How to Save Time Depositing at the Bank [w Video]

by Ka Edong on July 31, 2012

I have lots of checks (Amen!) addressed to me. So I spend a significant amount of time at the bank depositing my checks. I don’t want to spend too much time at the banks depositing checks. Therefore, I need to be smart in saving time transacting with my bank.

Here’s a quick list of tips to save time making deposits at the bank. The list include THE BEST TIP EVER for depositing checks. It’s a tightly kept secret and I know you will looooove me for this! There’s also a video on using the real-time deposit ATMs of BPI.

How to avoid Pila Sa Bangko (image from pep.ph)

How to avoid Pila Sa Bangko (image from pep.ph)

1.) Deposit within the first 30-mins of banking hours.

1.) Avoid depositing on these days: Mondays, Fridays, paydays. Lines are long during these days.

2.) Deposit within the first 30-mins of banking hours

3.) Deposit within the last 30-mins of banking hours (sometimes this works, sometimes it doesn’t. Check with your bank, ask the security guard.)

4.) THE BEST TIP I discovered recently: Deposit *checks* 10 mins before check cut-off time.

This trick requires precision. It works for me because I am walking distance to my banks and know specifically how much time I need to get to my bank at the right time.

Example, my bank’s check deposit cut-off time is at 1:30pm. When I go to the bank to deposit a check at 1:20pm, they usually make a last call: “Check Deposits please, last call!” . Therefore, regardless of what number I am in the pila (queue), I get bumped up to the front of the pila. Cool 😉

5.) Deposit at the ATM. Whether it’s a cash deposit or a check deposit, if your bank’s ATM accepts deposits, go ahead and just deposit via ATM. It saves you time, you can do it any time of the day (or night — just stay safe). And you get to avoid any long lines.

6.) For ATM deposits, prepare your deposit envelope in advance. Did you know that for many banks (including BPI), you can actually use a regular letter envelope to make an ATM deposit? I recycle envelopes. I use ordinary envelopes. I make sure to write down all the pertinent details of the deposit including:

  • Account Name
  • Account Number
  • Amount
  • Bank/branch, Check # (if depositing check)
  • Cash breakdown (if depositing cash)
  • For good measure, I also write down my mobile number in case the bank needs to contact me.

7.) Deposit cash at Real-Time Deposit ATMs

8.) Ask your bank. The security guards know what time of the day and week when the lines are shortest. Gain from their knowledge.

For other ways to bank, see: Internet online banking, phone banking or mobile banking .

Hope this helps!

How about you, what are YOUR tips on transacting with your bank?

Cheers!

ka edong

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