Teller

Summary of What they do:

Receive and pay out money. Keep records of money and negotiable instruments involved in a financial institution's various transactions.

What Tellers Do

Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.

Duties

Tellers verify a customer’s identity and financial information before processing a transaction.

Tellers typically do the following:

• Count the cash in their drawer at the start of their shift
• Accept checks, cash, and other forms of payment from customers
• Answer questions from customers about their accounts
• Prepare specialized types of funds, such as traveler’s checks, savings bonds, and money orders
• Exchange dollars for foreign currency
• Order bank cards and checks for customers
• Record all transactions electronically throughout their shift
• Count the cash in their drawer at the end of their shift and make sure the amounts balance

Tellers are responsible for the safe and accurate handling of the money they process. When cashing a check, they must verify the customer’s identity and make sure that the account has enough money to cover the transaction. When counting cash, tellers must be careful not to make errors. If a customer is interested in financial products or services, such as certificates of deposits (CDs) and loans, tellers explain the products and services offered by the bank and refer the customer to the appropriate personnel.

In most banks, tellers record account changes using computers that give them easy access to the customer’s financial information. Tellers also can use this information when recommending a new product or service.

Head tellers manage teller operations. Besides doing the same tasks as those done by other tellers, they perform some managerial duties, such as setting work schedules or helping less experienced tellers. Because of their experience, head tellers may deal with difficult customer problems, such as errors in customer accounts. Head tellers also go to the vault (where larger amounts of money are kept) and ensure that other tellers have enough cash to cover their shift.

Important Qualities

Customer-service skills. Tellers spend their day interacting with bank customers. They must be friendly, helpful, and patient. They must be able to understand customer needs and explain service options to their customers.

Detail oriented. Tellers must be sure not to make errors when dealing with customers’ money.

Math skills. Because they count and handle large amounts of money, tellers must be good at arithmetic.

Tasks On The Job

1. Answer telephones and assist customers with their questions.
2. Arrange monies received in cash boxes and coin dispensers according to denomination.
3. Balance currency, coin, and checks in cash drawers at ends of shifts and calculate daily transactions, using computers, calculators, or adding machines.
4. Carry out special services for customers, such as ordering bank cards and checks.
5. Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds.
6. Compose, type, and mail customer statements and other correspondence related to issues such as discrepancies and outstanding unpaid items.
7. Compute financial fees, interest, and service charges.
8. Count currency, coins, and checks received, by hand or using currency-counting machine, to prepare them for deposit or shipment to branch banks or the Federal Reserve Bank.
9. Count, verify, and post armored car deposits.
10. Enter customers' transactions into computers to record transactions and issue computer-generated receipts.
11. Examine checks for endorsements and to verify other information, such as dates, bank names, identification of the persons receiving payments, and the legality of the documents.
12. Explain, promote, or sell products or services, such as travelers' checks, savings bonds, money orders, and cashier's checks, using computerized information about customers to tailor recommendations.
13. Identify transaction mistakes when debits and credits do not balance.
14. Inform customers about foreign currency regulations and compute transaction fees for currency exchanges.
15. Issue checks to bond owners in settlement of transactions.
16. Monitor bank vaults to ensure cash balances are correct.
17. Obtain and process information required for the provision of services, such as opening accounts, savings plans, and purchasing bonds.
18. Order a supply of cash to meet daily needs.
19. Perform clerical tasks, such as typing, filing, and microfilm photography.
20. Prepare and verify cashier's checks.
21. Prepare work schedules for staff.
22. Process and maintain records of customer loans.
23. Process transactions, such as term deposits, retirement savings plan contributions, automated teller transactions, night deposits, and mail deposits.
24. Quote unit exchange rates, following daily international rate sheets or computer displays.
25. Receive and count daily inventories of cash, drafts, and travelers' checks.
26. Receive checks and cash for deposit, verify amounts, and check accuracy of deposit slips.
27. Receive mortgage, loan, or public utility bill payments, verifying payment dates and amounts due.
28. Resolve problems or discrepancies concerning customers' accounts.
29. Sort and file deposit slips and checks.