Best Cash-handling Practice in Bank (Teller, Cashier) (2024)

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Best Cash-handling Practice in Bank (Teller, Cashier) (7)

Bank - Teller

  • Money counting

Counting the amount of the money is the most important task of a teller. Quickly counting the exact amount, detecting counterfeit, pieces of each denomination is impossible without professional banknote counting machine. 1+1 pocket banknote counter must be a choice in this case because 1) its speed is far faster than 1 pocket machine due to its non-stop counting, 2)it counts amount, not pieces, 3)counterfeit detecting HW is better and 4) counterfeit detecting SW can be upgraded.

See why multi pockets for the benefit of multi pockets against single pocket.

Best Cash-handling Practice in Bank (Teller, Cashier) (8)

Best Cash-handling Practice in Bank (Teller, Cashier) (9)

Best Cash-handling Practice in Bank (Teller, Cashier) (10)

  • Auto Currency Setting

Tellers are busy. They don't want to set the machine by pressing many buttons. Usually, the only thing they do with the counting machine is counting money.

With many currencies handled everyday, however, tellers have to set what currencies should be counted. It sometimes needs pressing buttons many times.

With auto currency setting function, tellers do not need to press buttons. They just place the money and then the machine intelligently decide the currency. It helps teller's life easier.

See the video below for the demo.

  • Recording serial numbers of banknotes

Long time after a transaction ended, a dispute may happen between a bank and a customer. Each may argue that they received counterfeits. It is impossible to prove whether they received counterfeits or not, without recording serial numbers of given/received banknotes.

Banknote counter, which can record serial numbers of banknotes, can be used to prevent such disputes.

  • Blackbox at teller's desk

Sometimes, a dispute about the past transaction may happen between the teller and the customer. Though many CCTV is installed in the bank, it is not enough to prove who is right or wrong.

A customer display with CCTV function can help resolve this dispute. It has a feature like blackboxand records scenes, conversation, and transaction amount, just next to the customer.

Later, when a dispute happens, a teller can easily look up the recorded data.

  • Advertisem*nt and Calendar

Bank places many leaflets to advertise its financial products and calendar for customer's convenience. Advanced customer display can replace them in more intelligent way.

Best Cash-handling Practice in Bank (Teller, Cashier) (13)

Best Cash-handling Practice in Bank (Teller, Cashier) (14)

  • Check Processing

In order to process many checks, teller has to scan them, and put in necessary information into her PC. Because of small space of the teller, she has to leave her desk to handle it. It can cause security risk and dropping work efficiency. All-in-one solution, which consolidated banknote counter, counterfeit detector, check scanner, can save teller's working space and also streamline check processing task.

Best Cash-handling Practice in Bank (Teller, Cashier) (15)

Best Cash-handling Practice in Bank (Teller, Cashier) (16)

  • Balancing after daily operation

After a daily work finishes, a teller has to balance her money. Retrieving transaction info from PC SW and intelligent customer display, which are linked to banknote counter, can make the balancing job quite easy.

Teller also has to check whether there is another denomination mixed inside a bundle. 1+1 pocket banknote counter with single mode, a mode to sort out different denominations, can make this job done in seconds.

Best Cash-handling Practice in Bank (Teller, Cashier) (17)

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Best Cash-handling Practice in Bank (Teller, Cashier) (2024)

FAQs

Best Cash-handling Practice in Bank (Teller, Cashier)? ›

All cash, checks, and payment cards, should be kept in a locked/combination vault or safe, or, in a locked room in a locked drawer or file cabinet, during non-business hours. Access to areas where cash is stored should be limited to only those employees who need access, and have been designated to have access.

How to handle cash as a bank teller? ›

3 Handling cash transactions

When handling cash transactions, tellers should follow some best practices to ensure accuracy and customer satisfaction. They should always count the cash they receive from customers in front of them, and use a counterfeit detector to check for fake bills.

How do you handle cash as a cashier? ›

  1. Secure all funds properly.
  2. Document all movement ("transfers") with receipts.
  3. Secure all cash transactions in a safe place.
  4. Give a receipt to every customer.
  5. Do not share safe combinations and passwords.
  6. Secure keys properly.
Jan 11, 2024

What are the 5 procedures in handling cash? ›

We outlined the Five Cash Handling and Control phases:
  • Accept Cash and Checks.
  • Prepare Deposits.
  • Deposit Cash.
  • Reconcile Deposits.
  • Report Losses.

What is the cash handling policy for cashiers? ›

Doors should be locked at all times in areas where cash is handled. Large sums of cash should be counted and handled out of sight of the general public. Individuals should keep working cash funds to a minimum at all times. Excess funds should be in a locked device or deposited in the Cashier's Office.

How do you practice cash handling? ›

Consider implementing these six cash-handling best practices at the checkout or register:
  1. Examine all bills greater than $20. ...
  2. Store all large bills underneath the register. ...
  3. Place customer cash payment across the register. ...
  4. Verbally confirm cash received and change. ...
  5. Alert management when cash is over defined limits.
Mar 7, 2023

How can I be a good cashier in bank? ›

To become a bank cashier, essential skills like strong numeracy abilities, attention to detail, computer proficiency, effective communication, and customer service orientation are crucial. Upskilling in these areas through relevant courses can give you a competitive edge in the banking industry.

What are two examples of bad cash handling practices? ›

If you're using any of these bad cash handling practices, it's time to overhaul your cash management process for the better.
  • Consider the Technology You Use at Registers. ...
  • Focusing Only on Shortages. ...
  • Poor Training. ...
  • Unsupervised Cash Counting. ...
  • Manual Cash Handling.
Feb 17, 2020

How to handle cash properly? ›

All transactions should be held at the same spot, and all cash should be going into the same cash box. Do not allow one person to have complete control over cash transactions. Make sure two people are involved in any cash handling transactions, whenever possible. Always keep all money in a cash box or money bag.

What are the five principles of cash handling? ›

  • Stewardship. The careful and responsible management of something entrusted to one's care. ...
  • Accountability. One person has sole responsibility for a fund. ...
  • Separation of Duties. ...
  • Physical Security. ...
  • Reconciliation.

How can a cashier avoid mistakes? ›

It's good practice for cashiers to say a bill's denomination out loud when a customer hands it to them. (“Out of twenty?”) This helps avoid honest mistakes and fraud. (“Wait, I gave you a fifty!”) Similarly, if it's not too busy, it's a good idea for cashiers to count change back to customers.

What is the difference between cash handling and cashiering? ›

A cash handling department is a campus operating unit that typically collects cash or cash equivalents and deposits to either a Main Cashiering Station or a Sub-cashiering Station.

How to avoid cash discrepancies? ›

One of the most common causes of cash discrepancies is human error, such as miscounting, misplacing, or mixing up bills and coins. To avoid this, you should always count cash carefully and double-check your calculations. Use a counting machine or a calculator to assist you, and keep a record of your counts.

How to handle cash in banks? ›

You should always keep the cash in a locked drawer, a safe, or a vault, and limit the access to authorized personnel only. You should also follow the policies and procedures of your bank or organization regarding the cash limits, deposits, transfers, and audits.

What are the risks associated with handling cash as a bank teller? ›

Handling cash puts bank tellers at risk of theft or fraud. While banks implement strict security measures, the inherent risks in handling large amounts of money can concern some individuals.

What is the best way to manage cash? ›

Here are some best practices in managing cash flow:
  1. Monitor your cash flow closely. ...
  2. Make projections frequently. ...
  3. Identify issues early. ...
  4. Understand basic accounting. ...
  5. Have an emergency backup plan. ...
  6. Grow carefully. ...
  7. Invoice quickly. ...
  8. Use technology wisely and effectively.

How much cash can I take out at a bank teller? ›

Generally, bank customers can take as much money out of their bank accounts as they want -- it's their money.

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