How to deposit cash into someone else’s account (2024)

In simple terms, a bank deposit is money you put into a bank account to keep it safe and accessible. Deposits are typically made to checking or savings accounts, including certificates of deposit (CDs) and money market accounts.

You can make bank deposits in numerous ways: with cash as well as checks, direct deposits, money transfers and ATM deposits. But what if you want to deposit cash into someone else’s bank account? Here’s more about how you can accomplish this task.

How to deposit cash into another person’s account

You can choose from several options when you want to deposit cash into another person’s bank account.

Deposit cash at the bank: The simplest way to deposit cash into someone else’s bank account is to head to the person’s bank and let the teller know you want to deposit cash into the account. This will require providing the recipient’s name and bank account number. Some banks don’t allow you to deposit cash into someone else’s account so, ideally, the person will be with you when the deposit is made. Keep in mind that some banks may not allow cash deposits if you aren’t a customer, however.

Use a money order: A money order is prepaid and works like cash or a personal check. You can purchase money orders at banks and credit unions, post offices and certain retailers.

To deposit a money order into another person’s account, fill in the recipient’s name along with the dollar amount of the money order. Since you don’t need a bank account to receive a money order, you won’t have to include the recipient’s account number. You will also have to fill in your name and address and endorse the money order in the appropriate space.

You’ll likely pay a fee to get a money order, and amounts are usually capped at $1,000.

Obtain a cashier’s check. A cashier’s check is similar to a money order in that it can be used instead of cash or personal checks. The difference is that a cashier’s check is issued and guaranteed by a bank and has higher fees than a money order. A cashier’s check has no limits, which also makes it a better option if you need to deposit a larger sum of money.

You’ll need to pay the bank upfront for the full check amount. The bank will then issue an official cashier’s check for that amount. The recipient’s name will be on the check under “payable to” so it can be deposited into the account. You won’t need the recipient’s account number for a cashier’s check.

Methods of cash deposits

If you want to deposit cash in the form of actual currency, such as coins and bills, you have two options: in person at a branch or at an ATM.

Cash deposits at branches can include both coins and paper bills. You will need to fill out a deposit form and hand it to the teller along with the money. The teller will count the currency to make sure it matches the deposit slip.

If you want to deposit cash at an ATM, you must typically stick to paper currency. The machine will guide you through the process.

Other methods of depositing money into someone else’s account

If you want to transfer money into someone else’s account but don’t want to deal with cash, you can always use one of these other methods:

Wire transfer: A wire transfer transmits money to someone else’s bank account and can be done at banks or providers such as Western Union. Wire transfers don’t usually have limits, making them ideal for sending large amounts of money. The money is often available within a single business day.

Check your bank’s wire transfer fees first, as they can range from $10 to $50, depending on whether you’re sending money internationally. You’ll need the recipient’s name, bank routing number and account number to send a wire transfer.

Online bank transfer: A bank-to-bank transfer, or Automated Clearing House (ACH) payment, is usually free but can take up to three business days to be finalized. You’ll need the recipient’s name, routing number and account number.

You can also use a service called Zelle to transfer money to someone at another bank. Fees and limits may be involved with these types of transfers.

Money transfer app: Choose from services such as Venmo, Cash App or PayPal to move money into a friend or family member’s account. You’ll need the recipient’s phone number or email to make the transfer.

Personal check: While checks are no longer as common, they’re still useful in the right situation. Many financial institutions even allow mobile check deposits.

Benefits and drawbacks of depositing cash into someone else’s account

Pros

Simple: The main benefit of depositing cash into another person’s account is that it’s easy — especially if you’re not comfortable with digital banking.

Quick: Another benefit is that with cash deposits, the money usually posts to the account immediately.

Convenient: You’ll find a variety of options for depositing funds, depending on your preferences.

Cons

Security concerns: Handling cash always carries a certain element of risk because if it gets lost or stolen, it’s usually gone forever.

Restrictions: Some banks have banned cash deposits from noncustomers.

Fees and limits: Certain methods cap how much you can send or include fees.

Legal requirements for cash deposits

The main thing to know from a legal standpoint is that banks are required to file Form 8300 to the IRS when customers deposit more than $10,000 in cash in a personal or business account at a single time. The reason is to help prevent fraud and money laundering.

Safety tips for cash deposits

When making a cash deposit, practice these safety tips to protect you and your money:

• The first rule of thumb when handling cash — especially large amounts — is to carry it in something secure, such as a zippered crossbody bag or anti-theft money bag equipped with lockable zippers, cut-resistant straps and Radio Frequency Identification (RFID)-blocking pockets. The safest option is to make the deposit inside a bank branch.
• If you decide to deposit it at an ATM, make sure the location looks safe, is well lit and not isolated from view. Whenever possible, deposit it during regular business hours, when bank staff are around.
• Once the deposit is made, be sure to get an official receipt with the amount and date. This will be your physical proof that the deposit was made — an important consideration with cash deposits.