In the era of smartphones, cashing a check at the ATM often feels like a relic of the past. Many companies now use direct deposits to pay employees. In doing so, they don’t often issue paper checks anymore.
Moreover, you can often deposit a paper check by using your smartphone camera. When you scan the check through your bank’s app, it registers the check’s number and amount, thereby placing the amount in your bank account.
Nevertheless, there are still benefits to using ATMs. In this guide, we’ll walk you through three distinct advantages that only ATMs can provide. Let’s get started!
1. Cashing a Check at the ATM
We’ll start with an ATM’s most significant advantage. Currently, no app or home device allows you to withdraw physical cash. For the time being, you still have to go to the ATM for cashing checks.
Likewise, let’s say a friend or family member sends you a card with cash in it. If you want to deposit this cash into your bank account, the only way to do so is through an ATM.
However, ATMs don’t just make depositing cash easier! If you have multiple checks to deposit, an ATM is often more convenient.
ATMs rarely require you to place your checks in an envelope now. If you want to deposit multiple checks, you can insert them into the ATM all at once.
It then reads and deposits the checks in a single moment. As such, you can save time by avoiding online banking’s slower scanning processes.
2. Collect E-Receipts for Your Bank Account
Keeping thorough financial records is an excellent discipline for any household. If you’re honest, you could probably stand to improve your record-keeping.
One way to make that improvement is to stop crumpling receipts into your pocket. Instead, send yourself digital receipts from your ATM transaction.
After all, you probably receive your monthly account statements through email. Why not send your receipts to your email? Some ATMs even allow you to choose E-Receipts as your default setting.
In the long run, this practice can save you significant time. You won’t have to worry about cleaning out your pockets or car compartments to find the receipt you need.
3. Choose From Personalized Settings
The above sections explore two chief benefits of using an ATM. However, those advantages contribute to a third and final benefit: speedy transactions.
Usually, your ATM transactions follow a pattern. You take out the same amount of money for lunch each week. You deposit a check every two weeks.
With recent ATM upgrades, you can skip surfing through transaction options. Instead, you can customize a list of favorites that can help you complete your transaction quickly.
Find Other Financial Tips
Cashing a check at the ATM still has benefits that cashing checks online can’t match. When you need to deposit or withdraw money, try checking out a convenient ATM to see what options it has for you.
Utilizing an ATM is just one way to manage your finances. To find other ways, check out our other content today! Our goal is to improve your finances by providing top-notch financial advice online.