Teller Skills Customer Service Fundamentals

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Teller Money Handling and Balancing Tips Developing Routines to Stay Organized Getting things set up properly is half the battle, but keeping them straight is just as important. That is why it is necessary to develop good routines. Consider this example... have you ever lost your keys and had to search all over the house? If you had one place where you routinely put them, like in your purse or on a hook by the door, it would not happen. If you followed your routine, you would never lose your keys. It works the same way at the teller station. By developing and sticking with routines, you will remain more organized and you will make fewer mistakes. For example, if you always pay out coin first, you will be less likely to hand out the bills twice. Develop routines and stick with them. Counting Money The ability to count money quickly and accurately is fundamental to your job, whether you’re receiving money from customers or paying it out. You must develop a routine for counting cash to stay accurate. Always count in the same order, using the same method to stay accurate. Whether you are counting $25 or $25,000, always; 1. Separate the currency by denomination. 2. Face bills so that all portraits face up and in the same direction. 3. Roll each bill between your fingers to locate any doubles (bills stuck together)... this can be done as you arrange the bills. 4. Count in descending order.., counting the highest denomination first, then the next highest denomination, and so on. 5. Count your cash three times. This will eliminate most counting errors. Although these guidelines always apply, the counting system you use may vary depending on the amount you’re counting and the type of transaction. There are three commonly used counting systems. The denomination system. This method is commonly used when counting aloud to customers. With the denomination system, you can count and keep a cumulative total of all denominations or count and total each denomination separately. The ones system. This system is generally used when counting large amounts of cash, when packaging currency, or taking in large deposits. Using this system, you count each bill in a denomination as a “one” and then multiply the face value of the bills by the total number of bills to value the total package. The unit system. In this system, a unit value is assigned to each bill according to its denomination. For example, a $100 bill would have a unit value of 10, a $20 bill a value of 2, a $10 bill a value of 1, and so on. When counting with the unit system, a zero is added to the final count to translate the units into dollars. Page - 3
Teller Money Handling and Balancing Tips Regardless of which counting system is used, the key to effectively counting cash is to be consistent in the procedures you follow, stay alert, and emphasize accuracy over speed. COMMON BALANCING ERRORS Many tellers approach balancing with anticipation and fear. They are apprehensive that they won’t balance at the end of the day... that they will be over or short in cash. Balancing shouldn’t be a big deal, however. A teller actually balances with each and every cash transaction. If in each cash transaction the teller correctly counts the cash and correctly records the Cash-In or Cash-Out transaction, the drawer will automatically balance at the end of the day. View each cash transaction as a unit. To be assured of balancing, make sure each unit is done correctly throughout the day. Debit-Credit Principle Tellers can get confused if a customer wants to make several cash transactions at once. As a teller, however, you can easily make sure the transaction “balances” before the customer leaves your window using the debit-credit principle. The debit-credit principle is a simple bookkeeping principle used by all financial institutions. It states that in order to balance, the debits must equal the credits for each transaction. In order to use this principle, you must understand which items are debits and which are credits. Debits and credits are always identified as follows Debits Credits Cash-In tickets Cash-Out tickets Checks Deposit slips or tickets Withdrawal slips or tickets Sample Transaction 1: Assume, for example, that a customer hands you a deposit slip showing a total deposit of $250.00, with $50.00 in cash and a $200.00 check. You verify the cash, prepare a cash-in ticket for $50.00, and put the cash in your drawer. To balance this transaction, you would use the debit-credit principle by adding the debits and credits as follows: Debits Credits Cash-In ticket $50.00 Deposit slip $250.00 Check $200.00 Total: $250.00 Total: $250.00 Page - 4
Page 1 and 2: Webinar Series - T 401 Teller Skill
Page 3 and 4: Essential Qualities • People Skil
Page 5 and 6: Teller Toolkit Verisure, Inc • Wo
Page 7 and 8: Routine is the key 1. Greeting - al
Page 9 and 10: Counting Methods Denomination Used
Page 11 and 12: Causes of Mistakes D’oh! Verisure
Page 13 and 14: Teller Terminations Verisure, Inc M
Page 15 and 16: Servicing Statistics • 68%-78% of
Page 17 and 18: Difficult Situations Verisure, Inc
Page 19 and 20: Questions? Verisure, Inc © Copyrig
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Teller Skills Customer Service Fundamentals

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