What is a night drop deposit?

A night drop deposit is a secure box located outside of a bank or other financial institution that allows customers to make deposits after business hours. Typically, checks and cash can be deposited.

Benefits of using night drop deposits include:

- Convenience: Night drop deposits allow customers to make deposits without having to wait for the bank to be open. This can be especially useful for businesses or individuals who have limited time to handle their finances during business hours.

- Security: Night drop deposits are typically secure, with multiple levels of security measures to protect the contents. This includes electronic locks, cameras, and motion sensors.

- Speed: Night drop deposits can often be processed more quickly than deposits made during business hours, as there is often no need for a bank employee to handle the cash or checks.

How to use night drop deposit:

1. Fill out a deposit slip. Make sure to include all the necessary information, including your account number, the amount of the deposit, and the date.

2. Seal your deposit in a secure envelope. For cash, use a sealed cash bag provided by the bank.

3. Place your envelope into the night deposit slot or drawer. Make sure the envelope is fully deposited into the box and not just resting on top.

4. Get a receipt. The receipt should have the deposit amount, the date, and the time on it.

5. Keep your receipt for future reference.