Bank money counter simplifies the work of counting cash. That way, other bank operations can run fast too. Banks should use the best money counters as they deal with high cash volumes, and they can’t afford to make a mistake since it affects the customers and the bottom line. Banks check them for various features when buying a money counter. That is why the manufacturers of Carnation cash counter and other top money counter machines ensure that they incorporate these features.
Features of bank money counters
· High counting speed
Though speed needs to balance with accuracy, most banks opt for money counting machines with high speed. That way, they can speed up operations for excellent customer service and efficiency.
· Type of hopper and size
Hopper size will also affect the counting speed of the money counter. Bank counting machines should have a sizable hopper that can accommodate more banknotes to enhance the counting speed. Bank tellers will waste less time loading cash on the hopper if it has a big hopper.
· Batch feature
Most banks strap cash in batches after counting. Some money counters with advanced features offer that option; hence after counting up to the set limit, one can manually strap the cash. That makes work easier for the tellers and saves time too. Other machines only come with adding features that give a total of the notes fed to the hopper. Choosing a money counter machine depends on bank needs and their choice of operation procedures.
· Mixed notes counters
Banks are looking for ways to make money counting easier. Some money counters can sort notes that customers deposit without sorting them first. Sorting cash or bills takes time. Advanced machines that can count and sort the bank notes accordingly make it easier to strap the notes. Having a money counter that can sort bills also minimizes the risk of errors of mixing different denominations.
· Counterfeit and error detector
Multiple notes, bills or wrong size, and folded or torn notes may cause errors in the final count. Counterfeit notes also result in the wrong total count and can be costly to banks. Banks opt for machines that have in-built error detection capabilities. Most businesses that also experience counterfeit notes include the gas station, retail stores, and banking agents. They should invest in money counters that have counterfeit detection capabilities.
Banks should watch out for other features such as power consumption rate, display and design, and low maintenance procedures. Quiet operation, low weight, and automatic operation are other minor features banks consider.
Categories of bank money counters
1. Basic bill counters
With a basic bill counter, banks can count the money accurately. But they must sort the bills in the same denominations. In case of errors in sorting the banknotes, then the total value will not be correct.
2. Value counters
These types of counter shave imaging software and can count mixed denominations. Such counters will also not count torn, very dirty, or partial notes. Value counters increase efficiency, and most banks prefer using such money counters.
3. Multi Currency counters
Banks deal with different currencies, and some clients may deposit mixed currency bills. Again, for other banking operations, banks may need to counter-check the banking currencies in their safe. Doing so may be hectic without the use of a multi currency money counter.
You will find various money counter brands in banks. Though there are many high-quality money counters in the market, a bank chooses a money counter depending on their needs. But most banks will choose a money counter depending on the following factors;
- Specific cash handling needs of the bank
- Performance and rating of the money counting machine
- Salient features
- Online reviews and feedback from existing clients
- Networking and referrals.
- Price
Banks need to improve their cash handling procedures and other banking operations for more profitability. Though fast counting and counterfeit detection come first in most banks when selecting a counter machine, the industry is dynamic. And banks are looking for advanced features. Due to the rising cases of counterfeit notes, cash handling errors, and the need to speed up operations in the banking hall, banks need to upgrade their money counters. Reviewing the latest banking news can give one an idea of the market trends. That way, a bank can make the right choice depending on their business needs to get value for their investment.