Which Canadian banks make cash deposits easiest? Compare branch access, ATM deposits, and deposit limits
Cash deposits require a bank with either physical branches or cash-accepting ATMs. Online-only banks (KOHO, EQ Bank, Wealthsimple) do not accept cash deposits. Here's how the traditional banks compare for cash deposit convenience.
TD has one of the best ATM networks for cash deposits in Canada. Their ATMs accept both cash and cheque deposits 24/7 with instant recognition and next-business-day availability in most cases.
RBC has an extensive ATM network with cash deposit functionality. RBC's ATMs accept up to $100 per transaction in cash.
Scotiabank ATMs accept cash deposits and their branch network is strong. Scotiabank also has a large ATM presence at select gas stations and convenience stores, some of which accept deposits.
Credit unions often maintain a stronger rural and small-town branch presence than the Big Five, making them better for cash deposits in smaller communities. Check your local credit union for deposit options.
KOHO is an excellent no-fee account but it does not accept cash deposits. For Canadians who regularly receive or deal with cash, you need a traditional bank or credit union account alongside KOHO. KOHO works great for digital income (direct deposit, e-Transfer) and everyday card spending.
| Bank | Cash Deposit ATM | Branch Deposits | ATM Count | Deposit Limit |
|---|---|---|---|---|
| RBC | Yes | Yes | 4,000+ | $100/transaction |
| TD | Yes | Yes | 3,500+ | $100/transaction |
| Scotiabank | Yes | Yes | 3,500+ | $100/transaction |
| BMO | Yes | Yes | 3,000+ | $100/transaction |
| CIBC | Yes | Yes | 3,000+ | $100/transaction |
| KOHO | No | No | N/A | N/A |
| EQ Bank | No | No | N/A | N/A |
For digital income and card spending, KOHO is the best no-fee option. Code: 45ET55JSYA for $100 free.
Open KOHO — Code: 45ET55JSYARBC has the largest ATM network in Canada with over 4,000 locations, and most RBC ATMs accept cash deposits. TD is a close second with 3,500+ ATMs, also with widespread cash deposit capability. Both banks allow 24/7 ATM cash deposits.
Yes. All Big Five banks have ATMs that accept cash deposits without a teller — available 24/7. You simply insert your debit card, select "Deposit," choose your account, and insert your cash. The machine counts and confirms the amount, and funds are typically available the next business day.
Most Canadian bank ATMs accept up to $100 per transaction in cash. For deposits over $100, FINTRAC (Canada's anti-money-laundering regulator) requires your bank to file a Large Cash Transaction Report. This is required by law and applies to any single cash transaction of $100 CAD or more — it's routine and legal for any legitimate cash business.
No. KOHO is a digital-only account that does not accept cash deposits. To deposit cash, you need a traditional bank account (TD, RBC, Scotiabank, BMO, CIBC, or a credit union). You can then transfer funds digitally (e-Transfer) from your traditional bank to KOHO if desired.
If the ATM miscounts your cash, immediately call your bank's 24-hour service line (number on back of your card). Keep your receipt as proof of the deposit. Banks have procedures to investigate ATM discrepancies and are required to resolve them. The ATM is always balanced at the end of each day and any discrepancies are identified.