Jack Awatare
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Long before ATMs and online money transfer services were available, we conducted most banking transactions via cheques. We needed cheques to withdraw money, deposit it, and make third party payments. Even today, cheques are not rendered redundant. Granted, its usage has reduced compared to, say, two decades ago, but they continue to remain in circulation. If you are taking baby steps in the banking world and wish to know how to deposit cheque in bank, read on.
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The most common way how to a deposit cheque is at a bank branch. Here are the steps.
If you cannot visit your bank branch, you can also deposit cheques at select ATM kiosks with cheque depositing facilities. Here are the steps.
The bank credits the funds into your account within the shortest time possible.
Unlike with cash withdrawal, where you can use other bank ATM, you cannot deposit cheques at other bank ATMs. Also, some ATM kiosks also have a drop box facility, to deposit cheques in an envelope akin to a deposit slip. Here, you will not get the cheque deposit receipt. As a DBS Savings Account holder, you can consult your relationship manager if you wish to know how to deposit cheques in DBS bank branches or ATMs and get the necessary information about your nearest DBS branch and ATM kiosks.
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