Personal Finance

can bank drafts be depositted into abm?

  • Last Updated:
  • Oct 28th, 2009 2:31 pm
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[OP]
Deal Fanatic
Aug 9, 2009
5396 posts
1008 upvotes

can bank drafts be depositted into abm?

never depositted a bank draft before... and would hate to line up at teller... so any ideas?
and also what about a certified cheque?
15 replies
Deal Addict
Nov 18, 2008
3271 posts
77 upvotes
They're the same as any cheque and of course you can put it into the ATM. Just note that it will be subject to whatever hold your bank card has on deposits. These days tellers also hold drafts and certified cheques and treat them like normal cheques because of all the fraud out there.
[OP]
Deal Fanatic
Aug 9, 2009
5396 posts
1008 upvotes
is there usually an amount limit that should require u to deposit at teller? for example if its a large amount like $10,000 does it require you to deposit at teller instead of abm?

also has it ever happend that the cheque somehow went missing after being depositted into the abm? just wondering.
Member
Jun 6, 2009
285 posts
6 upvotes
Vancouver
if your so worried why don't you just wait the 5 minutes at the bank?
[OP]
Deal Fanatic
Aug 9, 2009
5396 posts
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i've obviously have my reasons thats why i posted this...
I work full time and full time school. i get only about 5-6 hrs of sleep everyday.

the line up at my bank is ALWAYS from 45mins to 1.5 hrs. (thats what happens when your bank is located beside pacific mall)
Sr. Member
Jul 29, 2009
895 posts
14 upvotes
Unless you've won the 6/49 jackpot, you shouldn't have any difficulty depositing a large bank draft / (certified) cheque / money order / whatever into an ATM. I haven't heard of items going missing from ATM deposits, but if it's something you're legitimately concerned about, you'll have to suck it up and wait for a teller.
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Jan 31, 2006
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Toronto
azncapcom wrote: i've obviously have my reasons thats why i posted this...
I work full time and full time school. i get only about 5-6 hrs of sleep everyday.

the line up at my bank is ALWAYS from 45mins to 1.5 hrs. (thats what happens when your bank is located beside pacific mall)
Does you bank with TD or HSBC? They have a lot of branch in that area why you have to line up that long?
Deal Expert
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Aug 18, 2005
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Burlington-Hamilton
Yes, I have deposited drafts at the ATM and there was no problem.
- casual gastronomist -
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Jan 31, 2006
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YYC27 wrote: Unless you've won the 6/49 jackpot, you shouldn't have any difficulty depositing a large bank draft / (certified) cheque / money order / whatever into an ATM. I haven't heard of items going missing from ATM deposits, but if it's something you're legitimately concerned about, you'll have to suck it up and wait for a teller.
I know 6/49 is cashable on the spot with any bank since it a a gurantee cheque after all unless you fake that cheque. But no one is stupid to cash a huge amount. :cheesygri
[OP]
Deal Fanatic
Aug 9, 2009
5396 posts
1008 upvotes
cgtlky wrote: Does you bank with TD or HSBC? They have a lot of branch in that area why you have to line up that long?
HSBC. the line is ALWAYS full when i go... i wait for about 45 minutes usually... dont know if its the time that i go or what... but as i've mentioned i have literally NO spare time. as i work full time and full time school, occupies all my time. (dont forget i have homework to do as well)
Sr. Member
Jul 29, 2009
895 posts
14 upvotes
cgtlky wrote: I know 6/49 is cashable on the spot with any bank since it a a gurantee cheque after all unless you fake that cheque. But no one is stupid to cash a huge amount. :cheesygri
I just meant you might have issues trying to deposit $45M at the ATM. ;)
Sr. Member
Dec 17, 2006
540 posts
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azncapcom wrote: is there usually an amount limit that should require u to deposit at teller? for example if its a large amount like $10,000 does it require you to deposit at teller instead of abm?

also has it ever happend that the cheque somehow went missing after being depositted into the abm? just wondering.
I've deposited $10,000 draft into an ATM. Drafts can be replaced if they go missing. Just keep your receipts. And no, I've never had a deposit item go missing.
Sr. Member
User avatar
May 19, 2006
513 posts
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Might be an urban myth but my friend says that one person did deposit their 6/49 cheque through the ATM at the branch she always went to.

Was trying to avoid the attention of doing it in branch apparently ....

Makes sense. I remember how much fuss their was when someone tried depositing a $1000 bill one time. ;)
Deal Expert
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Dec 11, 2005
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Why not just go to another branch...

Another thing you might be able to do (I don't know for sure just guessing) is cash the draft at a branch of the issuing bank. If you have no account there though there might be a fee involved.
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Feb 24, 2008
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Gatineau
The amount of time the OP has spent reading and writing these replies, he could have been in and out of the bank already :idea:

djino
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Mar 6, 2005
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brunes wrote: Why not just go to another branch...

Another thing you might be able to do (I don't know for sure just guessing) is cash the draft at a branch of the issuing bank. If you have no account there though there might be a fee involved.
It's up to them but yes you can try to cash at at the branch printed on the draft. However they do not have to and many branches will have a cash limit, for example you can't walk in and demand they cash a $8000 draft in full on the spot.

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