Can One Deposit Cash into Another Person’s Checking Account using an ATM if Both Accounts Belong to the Same Bank? Is This Legal or Illegal?

No, an ATM only lets you deposit into your account.

Security and Risks

When dealing with financial transactions, security is paramount. It would be highly irresponsible for someone to give their card and PIN to another person. You could drain their account, which would be a serious security breach and could result in legal consequences.

Legal and Authorized Transactions

Any transaction in a bank account done through an ATM needs a card or OTP on the registered mobile number of the account holder. You are not authorized to operate another person’s account, so depositing money is ruled out. The only way is through card-to-card transfers or other electronic fund transfers.

Facilities Available Through ATMs

ATMs do not have any provision to deposit money into either other people’s accounts or your own account. However, you can transfer funds through the card-to-card process. Some of the facilities available through ATMs include:

Cash withdrawal PIN change Mini statement of last ten entries Balance verification Mobile recharge Ticketing Payment of tax Transfer of funds

Note that you can only deposit cash through Cash Deposit Machines (CDMs), which are slightly different from standard ATMs. CDMs allow you to deposit money up to Rs 49000 at a time. However, as per the latest policy changes, one cannot deposit money into others' accounts unless and until he is a joint account holder with the primary account holder.

Fund Transfer Options

While you cannot deposit cash into an account through an ATM, you can still transfer funds. Fund transfer can be done through the card-to-card process. Some banks, such as State Bank of India (SBI) and ICICI Bank, provide this facility, while many other banks do not. Typically, you can deposit a limited amount into a third party's account, but you will need to provide the account number and name for verification purposes.

Using Cash Deposit Machines (CDM)

When it comes to depositing cash, you can do it through a Cash Deposit Machine (CDM). These machines are available at almost every major bank branch and some major e-banking locations. For example, you can deposit cash into someone else's account by using their account details, such as the account number and name, to verify the transaction.

In summary, analogy and clarity are important when it comes to handling financial transactions. While ATMs do not support direct cash deposits for other people's accounts, you can use CDMs for this purpose, provided that the necessary account details are available. Always ensure that you follow the legal and ethical guidelines to avoid any potential issues. If you have any further questions or need assistance, consider consulting your bank or a financial advisor.