Money Matters for the Teller!

There are many key disciplines when it comes to handling money.  Here are just a few...

All currency in the teller’s possession should be face-up, appear orderly and stored neatly.

When purchasing currency, the teller should verify the purchase immediately turn the strap or replace it with a new strap, stamp the strap with his or her teller stamp, and initial it.  All strapped currency in the possession of a teller should have the purchasing teller's initials and dated teller stamp on the up side of the strap. In order to prevent misuse, it is important all used currency straps be torn in two.

The teller's cash handling responsibilities begin anew daily.  Starting with the moment the teller takes possession of the cash and right up to the point the money is returned to safekeeping at the end of the day.  A best practice is for the teller to start the day counting and recording the cash drawer validating the drawer is intact. 

If interrupted during counting, stop and start again.  It's better to take the extra minute than to shortchange or overpay someone.

Avoid making unnecessary conversation when counting cash or preparing a cashier’s check.  Discipline is important to avoid being distracted during the counting steps.

Ask customers to count large amounts of cash before they leave the window. As an added precaution, follow procedures for having customers sign for large amounts of cash, to indicate receipt of the money.

Handling currency and coin in a consistent and professional manner assures the work is simplified and the chance of error is reduced. Equally important, tellers develop the skill to concentrate on both the transaction and the customer.

Ace all audits by following proper procedures and being consistent.  Email me, honey@interaction-training.com for your free copy of the Audit Checklist for Tellers.

Still learning,

Honey