A cash deposit is the money that you put into your bank account. The bank keeps your money safe for you until you decide to withdraw it. Cash deposits can be money transfers or cheques deposited in an account and don't only have to be cash. The account in which you deposit the money is a liability. However, it is an asset for the bank. It is not your asset anymore and turns into a right to money withdrawal on the terms agreed between you and the bank. 

You can generally deposit cash in two types of accounts: 

1. Checking or current account
2. Savings account

Different types of accounts give you different kinds of services and advantages. 

You have to pay a small amount of money as cash deposit charges in some types of current accounts. There might be a cash deposit limit per day as the rules governing transactions are getting tighter. A cash deposit limit is the maximum amount of money you can deposit in a bank account in one day. Similarly, there is a monthly and yearly cash deposit limit. Interestingly, Bandhan Bank does not have a monthly or yearly cash deposit limit. 
There are many banks around the country and the world, and everyone has their own savings and current account cash deposit limit. The cash deposit charges in current account and savings account depend on the bank you choose to bank with. Each bank has its own current account withdrawal limit per day and current account cash deposit limit per year. Similarly, each bank has its own limits for savings accounts.

Things to remember:

• Cash deposits mean adding money to your bank account. 
• Traditionally, you deposit money in your bank by visiting the nearest branch. 
• Another way to deposit money in the bank account is through an ATM-cum-cash deposit machine. 
• You do not need an ATM card to deposit money through ATMs.
• It is mandatory to provide your PAN details for high-value transactions. 

While internet banking has made banking more accessible for us, there is no way to deposit money in bank accounts apart from doing it physically.
 

How do you make a cash deposit?

There are two ways to deposit cash in bank accounts. These are: 

• By visiting a bank branch
• By using an ATM

Cash deposits by visiting a bank

• You can find a deposit slip yourself or ask a representative at the bank for one. 
• Fill in the necessary information on the slip, such as amount, phone number, email, account number, and name. 
• Enter the correct denominations. For instance, if you wish to deposit INR 10,000, then mention the denominations of cash. I.e 1,000x5, 500x5, 100x25. Enter the correct and applicable combinations of the notes on the slip. 
• Proceed towards the counter and give the slip to the official at the deposit counter. The official will check the details, count the cash, and give you an acknowledgment slip after stamping it. 
• The official will complete the process, and you will receive an SMS confirming your transaction and account balance. 

Cash deposits by using an ATM 

• Visit your nearest ATM. 
• Select the deposit cash option once you insert your ATM card. Enter your deposit amount, account type, and account number if you don't have your ATM card. 
• Put your money in the deposit area. 
• The ATM will count the money automatically and will ask you to confirm whether the amount is correct. 
• The ATM will generate a transaction receipt, and you will instantly receive the money in your account. 
• You will get an SMS on your mobile mentioning your account balance after the transaction.
   

Limits

It is now mandatory to mention the Aadhaar or PAN number if your financial year withdrawal exceeds Rs.20 lakh. It is the same in the case of opening a cash credit account or a current account with the bank. Additionally, PAN is mandatory for cash deposit transactions of Rs.50,000 and above.

A notification that the Government recently issued stated that every person who comes under the mentioned limits' ambit shall follow the rule. 
Section 269ST of the Income Tax Act puts certain restrictions that you need to follow: 
A person is not allowed to receive Rs.2,00,000 or more from a person in a day, in a single transaction, or concerning the transaction of a single event from a person. 

However, Section 269ST is not applicable for the following:

• For cash, you receive through a bank account, ECS, Account Payee Bank Draft, or an Account Payee Cheque
• For receipt from a co-operative bank, post office savings bank, banking company, or the Government 
• For transactions mentioned in Section 269SS
• Persons or class of persons the Government may specify

Most banks restrict withdrawals to 60 times half yearly. You can withdraw up to Rs. 1,00,000 from the ATM weekly. You can withdraw up to Rs. 24,000 weekly from the savings account. 
For cash deposit you can visit Bandhan Bank's nearest branch.