Currency Counters: The First Step in Cash Automation
A money-counting machine is one of the most useful and efficient tools that a business can invest in. Saving time and money, currency counters are the first step to cash automation by drastically reducing counting errors, detecting counterfeit bills, and helping ensure that your accounts are 100% accurate.
Bankpak provides high-quality currency counters that offer cash automation functionality with reliable hardware. For financial institutions or small businesses, currency counters are one of the most useful tools you can have on hand.
Because the goal of a cash counter is to make your life easier, it’s important that you understand the fundamentals of a currency counter as it pertains to your business.
Counting money in the cash office by hand is one of the most laborious and time-consuming jobs of office personnel, and it’s easily the most subject to inaccuracy.1 Whether it be from human error or distractions, this can lead to troublesome issues in your accounting department and business.
A money counter will complete the count with 100% accuracy and leave you feeling confident that your end-of-day count is exactly as it should be.
Millions of dollars in counterfeit bills are in circulation across the United States, and unfortunately, no company is safe from their harm. That’s why it’s crucial that your currency counter includes a counterfeit detection tool in its features. Some models may have this detection service built-in, while others do not, so be sure to check with a sales representative before purchasing a currency counter.
Hand-checking and identifying counterfeit money can be time-consuming and difficult, as you have to check every single bill to truly be safe. Money counters can use different types of detection tools in order to spot counterfeit bills, however, the most common and efficient is UV detection since modern U.S. currency is printed with ink that glows under ultraviolet light.2
Depending on the model of currency counter that you decide to choose for your company, it may or may not include the denomination value detector/sorting feature. Usually, these machines are more expensive than a standard money counter, but are useful if you are not presorting your bills. However, if a sorting error does occur, a currency counter that has the denomination value sorting/detector may prevent counting errors from occurring.
The increased price for a denomination sorting cash counter comes from the color image sensors and advanced imaging software that helps determine the denomination of each bill.
Currency Counters: Optimizing the Bank Office
Currency counters are an essential tool for banks and other institutions, as they streamline cash handling processes and reduce the risk for errors. At Bankpak, we are always looking for ways to improve our client’s experiences in their bank offices as well as increase time saved and minimize errors.
For that reason, we are a proud distributor of currency counters of many basic and high-end currency counter models that offer cash automation functionality with reliable hardware.
Let Bankpak assist your institution in implementing Currency Counters at your storefront or financial institution.
We have nearly 40 years of experience in providing the latest banking and security equipment for banks and credit unions, both large and small. Often, financial institutions are on the forefront of new technology implementation, and we can help provide the systems integration that will make your project come in on time and on budget.
By equipping each new branch and building with the latest technologies, our goal is to give your staff more time for top-tier, professional customer service.
If you need help navigating this process or have any questions about Currency Counters, contact us at Bankpak.com.
If you have any questions about the currency counters, contact us below.