Managing Money

How to Deposit Money Online

December 12, 2012
Hawaiian ATM. Photo by Julie Mayfield

I’m a frequent user of online bank accounts and I know that one of the biggest challenges of online banking is getting money into the online accounts. If that’s true for you too, here are the methods I’m aware of, all of which I’ve used.

Direct Deposit for Online Bank Accounts

This is by far the easiest, quickest way to fund an online bank account. We have several streams of income and I assign the ones that are eligible for direct deposit to the account that makes the most sense for each.

The largest amount is direct deposited to PerkStreet each month, so it’s available to pay bills and household expenses.

The other, smaller amounts are direct deposited to different ING Direct savings accounts, according to the job I’ve given each to do (emergency fund, college savings, etc.).

Setting up a direct deposit is as easy as having your bank account number and the bank’s routing number and providing it to the person/company that initiates the deposit, often a payroll department.

How to Deposit a Check Online

A certain amount of money finds its way to us in check form each month. Checks can be a bit trickier to get into an online account, but there are several ways that work.

Deposit Apps

If your online bank has a deposit app, that is a quick and easy way to deposit the check. It usually involves taking a picture of the front and back of the check.

Bank of America isn’t an online bank, but I regularly use their mobile app to make deposits to our business and personal accounts. I love that the bank is no longer part of the errands I run.


If your online bank account comes with an ATM card, you can deposit checks that way. Just be sure to check out your ATM network so you can avoid any fees that may be associated with using the wrong one.


Another way to fund online accounts is to deposit a check into one account and then transfer the amount to your online accounts. I regularly deposit checks using the Bank of America deposit app and initiate transfers.

Do you bank online? How to you fund your online accounts?

Note: This post contains my referral links. See my disclosure policy for more information.

  1. What a timely article! I’m getting ready to open my first online account. The savings rate is much better than at my local bank, and I like the idea of keeping money separate that I’m saving for a remodeling project.

  2. I have been wondering just this question. How does one make deposits to online accounts. I have a son that has one but other than his paycheck that is on direct deposit, he doesn’t know a way to deposit other checks or cash into his online account.
    I’m thinking about going with Perk Street but this has been my main drawback. How to deposit cash or personal checks into the account. I don’t have a phone that has apps, just a cheap Cricket phone, so I can’t do the app thing. Any other ideas would be greatly appreciated.

    1. Hi Rebekah, you can use an ATM, or deposit into your current bank account and then transfer to your online account. Hope that helps!

Leave a Reply

Your email address will not be published. Required fields are marked *