How to Deposit Cash without an ATM

For depositing large sums of cash into a Crowded account, the best option is a cashier’s check. 

Here’s a step-by-step breakdown of the process:

1. Arrive with the cash at a branch of a bank that you personally or professionally have an account with. Getting a cashier’s check is typically reserved for bank customers, but it does not affect the balance or standing of the customer.
2. Buy a cashier’s check with the cash, and make the cash payable to the legal account name of the Crowded account.

3. Sign the back of the cashier’s check.

4. Endorse the check by writing “For mobile deposit only at i3 Bank”

5. If the check has a checkbox for mobile deposits, it is also required to check it. 

6. Deposit the check into your Crowded account with the Crowded mobile app check deposit feature:

   • Log in to the Crowded mobile app
   • Tap on the plus sign at the bottom of the screen and select “Deposit check.”
   • Enter the amount that you are depositing, and a description
   • Take a picture of the front and back of the check
   • Confirm to deposit

The cash is not your income

You’re acting as a custodian/volunteer, not earning the money. The funds belong to the organization, not you personally.
So even though the cash passes through your hands and your name may be on the cashier’s check as the purchaser, it does not become your taxable income.

Potential Reporting

If the cash amount is large (typically $10,000+ in cash when purchasing the check), the bank may file a Currency Transaction Report (CTR).
That: