Counting, validating, and handling cash are the most time-consuming tasks within a financial institution branch. Deposits are counted a minimum of two times, while withdrawals are often counted up to three times – two behind the counter and again when presented to the customer. Additionally, vault buys and sells are performed in a dual control environment, requiring two FTEs to count and and validate the transaction. This costs time and money. Even more, this routine exposes cash for extended periods of time increasing security concerns. These transactions are time-consuming and are prone to errors. Teller Cash Recyclers (TCRs) bring efficiency, accuracy, and security to many aspects of these daily cash handling processes. TCRs remove the burden of counting and validating the cash by the teller, along with removing the risk of errors associated with it. This technology allows the tellers the opportunity to focus on the customer and customer service during a transaction. TCRs also manage standard vault buys and sells without the need for dual control. End of day balancing is easier, less stressful, more accurate, and less time-consuming saving time and money. Aimee at American Bank & Trust in Pierre, SD, describes her experience, “It counts the cash that accompanies a deposit in seconds, saves time, we don’t have to put back in our drawer and sell to vault if our drawer has exceeded the limit. The TCR also reduces our cash exposure.” The added security of less cash exposure makes the TCRs even more attractive. The Hyosung MS500A comes with self-auditing features. With this solution, cash is no longer stored in teller cash drawers that are susceptible to robbery targets. Instead, cash is now stored in a secure mini-vault which allows branch operations to audit the TCR without exposing the cash or requiring dual control.
Curious how this can benefit you? Watch the video below to see how this technology works for you and contact your representative to learn more.