Online banking alternatives can make managing your money easier with lower fees and higher interest rates – but what happens when you have cash in hand? Unlike traditional banks with branches on every corner, many digital financial services providers require a bit more planning when you want to deposit physical money.
The good news is that many online banking services and financial technology companies partner with retail store networks and ATM providers to accept cash deposits nationwide. Below, we compare several popular options for cash deposits, break down the fees you might encounter, and walk through exactly how to add cash to your account.
Key takeaways
Several online banking services and financial technology companies accept cash deposits through retail store networks, ATMs, or both – giving you flexibility even without physical branches.
Deposit fees vary widely, ranging from free to around $4.95 per transaction depending on the provider and method.
Chime®, Capital One, SoFi, and other financial services providers partner with services like Green Dot to make cash deposits accessible nationwide.
Best online banking for cash deposits compared
Online Bank or FinTech | Cash Deposit Method | Deposit Fee | Monthly Fee | Deposit Limit
|
Chime | Retail stores like Walgreens, Kroger, 7-Eleven, CVS, and Circle K | Up to $4.95 (free at Walgreens’ 8,000 locations) | $0 | $500/transaction at most locations, up to $3,000 at Kroger, up to $1,000 at Walgreens and 7-Eleven |
Capital One 360 | Walgreens, CVS, and other participating stores, plus Capital One ATMs and cafés | $0 | Up to $1,500/day; up to $5,000/month | |
SoFi | Retail stores via Green Dot | Up to $4.95 | $0 | $1,000/day; up to $5,000/month |
Axos Bank | Retail stores via Green Dot | Up to $4.95 | $0 | $20–$500/day at most retailers; up to $1,000/day at Walmart; up to $1,500/day at ACT Cash Express locations* |
Alliant Credit Union | Select ATMs | Varies by location | $0 | Varies |
Varo Bank | Retail stores via Green Dot | Up to $4.95 | $0 | $500/transaction; up to $1,500/day |
Current | Select retail stores | $0 | $500/transaction; up to $1,000/day; up to $10,000/month |
Deposit methods, fees, and limits are subject to change and may vary by account, retailer, ATM, or location. See the linked provider or third-party source for the latest details.
Best online banking alternatives that accept cash deposits
So which online banks or fintechs actually let you deposit cash without a hassle? Here's a closer look at seven solid options, starting with Chime.
1. Chime
Chime lets you deposit cash at more than 100,000 retail locations nationwide through the Green Dot network. You can add funds at stores like Walgreens, CVS, Circle K, Kroger, and 7-Eleven, making it easy to find a convenient cash deposit location.
Cash deposit limits vary by retailer. Most locations accept up to $500 per transaction, while Walgreens and 7-Eleven allow up to $1,000 per transaction and Kroger allows up to $3,000 per transaction. Chime also has daily and monthly cash deposit limits, and applicable retailer limits may vary by location. Cash deposits are free at Walgreens locations. Other retailers may charge fees of up to $4.95 per transaction.1
Chime is a financial technology company that offers banking services through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Chime charges no monthly fees.2
Deposits are held through Chime’s partner banks, The Bancorp Bank, N.A. and Stride Bank, N.A., Members FDIC.
2. Capital One 360
Capital One 360 stands out because you can deposit cash for free at Capital One ATMs, branches, and café locations, as well as certain retail stores. The bank also provides access to a large network of fee-free ATMs for withdrawals.
When adding cash at participating retail locations, customers can deposit up to $1,500 per day and up to $5,000 per month. Deposits made at Capital One ATMs may be subject to different limits.
The account has no monthly fees and no minimum balance requirements. Capital One also offers a competitive APY on its 360 Performance Savings account, which can help your money grow faster.
One thing to keep in mind: Capital One's physical locations are concentrated in certain regions. If you live outside major metro areas, you may have fewer convenient options for cash deposits
3. SoFi
SoFi accepts cash deposits through the Green Dot retail network at stores like Walmart, Walgreens, and CVS. The process works similarly to other Green Dot partners – you bring cash to a participating retailer, provide your account information, and funds typically appear within minutes.
SoFi charges no monthly fees and offers a competitive APY on its savings account when you set up direct deposit. The platform also offers investing and lending products, which can simplify managing multiple financial goals in one place.
Retail deposit fees of up to $4.95 apply. SoFi allows up to two cash deposits per 24-hour period, with a maximum of $500 per transaction and $1,000 daily deposit limit. Cash deposits are also capped at $3,000 over a rolling seven-day period and $5,000 over a rolling 30-day period.
4. Axos Bank
Axos Bank provides cash deposit access through a retail store network via Green Dot. Deposit limits vary by retailer. Most participating locations allow deposits between $20 and $500 per day, Walmart locations allow up to $1,000 per day, and participating ACT Cash Express locations allow up to $1,500 per day. Additional monthly deposit limits may apply.
The bank offers several checking account options, including a Rewards Checking account that earns interest and provides unlimited ATM fee reimbursements.
There are no monthly maintenance fees on most Axos accounts, and the bank offers robust online and mobile banking tools. Axos also provides a wide range of products including mortgages, personal loans, and business accounts.
5. Alliant Credit Union
Alliant Credit Union lets you make cash deposits at select ATMs. Alliant charges no monthly fees and pays a competitive dividend rate on checking balances. The credit union requires membership, but eligibility is broad, so anyone can join.
6. Varo Bank
Varo Bank accepts cash deposits through the Green Dot network at participating retail stores. Varo was one of the first all-digital banks to receive a national bank charter, meaning your deposits are held directly at Varo rather than through a partner institution.
The account has no monthly fees and no minimum balance requirements. Varo also offers a savings account with a competitive APY when you meet certain direct deposit thresholds.
Cash deposit fees up to $4.95 may apply at retail locations. Cash deposits require a minimum deposit of $20 and are limited to $500 per transaction and $1,500 per day.
7. Current
Current accepts cash deposits at select retail locations. The account is designed with budgeting in mind, offering features like Savings Pods that let you set aside money for specific goals.
While some banks offer free cash deposits, Current charges $3.50 per cash deposit transaction. You can add up to $500 per transaction and up to $1,000 per day, with a monthly limit of $10,000.
One limitation to keep in mind is that Current does not currently support cash deposits at ATMs. All cash deposits must be made through participating retail locations.
Current charges no monthly fees and provides fee-free overdraft coverage for eligible members. The app includes spending insights and instant transaction notifications to help you track where your money goes.
How to deposit cash at an online bank
Depositing cash at an online bank typically involves one of three methods. The right option depends on which bank you choose and what's convenient in your area.
Retail store deposits: You visit a participating store in a network like Green Dot, tell the cashier you want to make a cash deposit, provide your debit card or account information, and hand over the cash. Funds usually appear in your account within minutes, though some deposits may take up to an hour.
ATM deposits: Banks like Capital One operate their own ATM networks that accept cash. You insert your debit card, select the deposit option, feed cash into the machine, and confirm the amount. Deposits typically post quickly and are often free.
Shared branch deposits: Some credit unions participate in shared branching networks. You can visit any credit union in the network, provide your account information, and complete the deposit as you would at your home branch.
Tip: Before heading out, use your bank's app or website to find the nearest deposit location. This saves time and helps you avoid locations that may not accept deposits.
Are there fees for depositing cash at online banks?
Fees for cash deposits vary depending on the bank and deposit method. Here's what to expect:
Retail store deposits through Green Dot often cost up to $4.95 per transaction. The exact fee depends on the retailer, and fees can vary by location. The retailer collects the fee, not your bank.
ATM deposits at bank-owned machines are usually free. Capital One, for example, doesn't charge for deposits at its ATMs or café locations. However, using an out-of-network ATM for deposits may result in ATM fees from both the operator and your bank.
Shared branch deposits at credit unions are generally free, though some credit unions may charge a small fee for non-members using the network.
If you deposit cash frequently, fees can add up. Someone who deposits cash weekly might save money with Capital One's free ATM deposits, while someone who rarely handles cash might not mind occasional retail fees.
Bottom line
Digital banking services and financial technology companies have made cash deposits far more accessible through retail store networks, ATMs, and shared branches. Whether through retail store networks, ATMs, or shared branches, you can find an option that fits your lifestyle without giving up the benefits of digital banking – like lower fees and higher interest rates.
Chime offers cash deposits2 at over 100,000 retail locations nationwide, along with no monthly fees and features like early direct deposit and fee-free overdraft. If you're ready to try a digital checking account experience that makes managing cash simple, open a Chime account today.