Eight Principles that Count at the Teller Window

Every teller has a personal interest in cash-handling procedures and should be certain cash-related  policy is meticulously obeyed.  Cash limits vary from institution to institution and even from one teller to another, depending on the teller's specific responsibilities.  Limits can also vary from day to day, depending upon your cash needs. 

 

1. Large bulk-cash deposits should be removed from the teller window as soon as possible.  Similarly, prepared change orders should not be kept at the teller window awaiting pickup. It is tempting fate to use teller windows as temporary storage space for large sums of money.  The teller's coin vault could be used for safe temporary storage during the day.
2. Each teller is responsible for the currency and coin supply assigned to him/her.  Tellers also are charged with the responsibility of accepting money from--and paying money to--their customers.
3. Financial institution tellers are the constant target of thieves, swindlers, and con artists.  This is true of almost all phases of teller activity.  Teller training must go beyond the basics of counting money and making change.  Learning how swindlers cheat  tellers is an essential part of the training.  This requires continuous, on-going teller training.  Professional crooks are clever and resourceful.  They are well acquainted with internal procedures, and constantly invent new deceptive tactics.  Management must understand that a "new" teller steps up to the window and enters the world of major-league fraud.
4. The teller's responsibility for handling money begins before the teller window is opened and extends up to the point of balancing and turning in the cash supply at the end of the day.  During that time thousands of dollars are handled--money set up in the drawer, taken in from and paid out to depositors and customers, or transferred within the institution.
5. If interrupted during counting, stop and start again.  It's better to take the extra minute than to shortchange or overpay someone.
6. Avoid making unnecessary conversation when counting.  This discipline enables the teller to stay focused and avoid being distracted during the counting steps.
7. 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.
8. By handling currency and coin in a consistent and professional manner, 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.

Pay the teller the respect they are due, smile when you see them and provide them training and coaching routinely!

Still learning,

Honey

How Do I Know This ID is for Real?

Identification Rationale
Requesting, examining, and recording the presenter’s identification is an important part of the check-cashing decision.  It is how you determine whether the presenter is the person he or she claims to be. Since it is difficult to recognize everyone who wants to cash a check, properly identifying them is critical.

Identification Six Point Validity Test

Determine the validity of customer identification using specific criteria.

Acceptable identification must:

      1.   Contain a photograph.

      2.   Describe the presenter.

      3.   Show a sample of the presenter's signature.

      4.   Include the birth date of the presenter.

      5.   Display a date of expiration.

      6.   Be recognizable as an official I.D. and contain a registration or identification number.

Commonly acceptable forms of identification may include:

• Valid Driver's License with a photograph                             
• Armed Forces issued  ID                                                        
• USA/Foreign Passport    
• Official state Issued ID with a photograph                           
•  INS issued Alien Registration Card
• Well-known employee I.D. cards that contain photograph
• Government/military identification cards

REMEMBER:  For the I.D. to be acceptable, it must pass the Six Point Test.

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