11/23/2022
When you have a savings or checking account at the bank, you surely have a source of income to deposit funds to help you with your expenses or projects.
There are many ways to carry out this procedure, but curiously not all of them are known or well used. That's why we'll give you options and you'll see which one might be more convenient.
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What are the most common methods to deposit in your account?
If we go to the basics, many people should be familiar with this information. Since we're talking about the U.S. banking system, common alternatives for depositing into your bank account start with:
Visiting a branch
Whether it's a check, wire transfer or cash, a branch teller can't go wrong. If you prefer personalized attention, people-watching or interacting with tellers, this option fits you like a glove.
Although it is an option that is rarely used by the younger generations, people who are wary of technology prefer it.
Using the ATM
You may have a greater affinity for a teller than for more sophisticated or "complicated" means. Most of these machines accept cash or checks to deposit into your account.
It is recommended that you use them while the bank is open and know the process well to avoid mistakes that may cause you to lose time or patience.
Take advantage of safe deposit boxes
Also known as secure or night deposit boxes, they are usually located at the entrance or on an inside wall of the bank.
They are usually used by merchants to avoid leaving cash in their businesses, but anyone can take advantage of them. All you have to do is include the appropriate voucher and put the money or check in its respective envelope.
Implement direct debits
Automatic direct debits may look complicated, but it's the opposite. Through a simple configuration from the bank's website, you can schedule payments or deposits to be made periodically and without lifting a finger.
It is a method that we recommend because it facilitates the management of your personal finances and because of its practicality.
New ways to deposit money into your bank account
Although online transfers have been with us for some time now, we consider them in this section because some people are reluctant to use them as a daily resource. The same goes for other similar alternatives that we will now describe:
Mobile banking or app.
Most traditional and modern banks already have their own application for your favorite devices, such as cell phones, tablets and computers.
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This software includes a variety of frequent operations, such as transferring money from one account to another via the Internet. In general, it is a program that is easy to master and stands out for its usefulness.
Digital wallets or e-wallets
If you prefer an online account, digital wallets are a good choice. Most of these services allow you to link your bank accounts to make the most common transactions.
In e-wallets you can deposit by credit or debit card and there are e-wallets for different currencies or cryptocurrencies.
Commercial applications
There are applications for all tastes and they have become popular because they allow you to pay in stores around the world or transfer money to other people. The most prominent ones are Zelle, Google Pay, Apple Pay, Dwolla, Paypal, TransferWise or Venmo, among others.
You can download them for free and some are sponsored by the most recognized banks. They even offer financial advice, budgeting, expense tracking and other features to better manage your personal finances.
ACH Transfers
This procedure falls into the category of electronic deposits. The difference from individual online transfers is that they are processed in batches and sent at a certain time of day.
Services such as Bill Pay and Direct Deposit take advantage of this secure technology to pay for services or wages, tax refunds, employee expense reimbursements, and annuity or interest payments.
Español: Formas de depositar dinero en una cuenta bancaria