SmarterBank, the online-only institution with a cash-back like program that lets users reduce their student debt, has changed its rules on ATM deposits.
“Effective January 14, 2013, cash, checks, and other items deposited at an ATM will be available on the fifth business day after the deposit is applied to your account,” the bank said in an email to customers.
Previously the bank had not given any indication of how long it would take ATM deposits to clear. SmarterBank is a bank surrogate operated by The Bancorp Bank.
Making deposits through ATMs for online only banks is possible, although seldom fast.