In a busy bank or business, making change can be very time-consuming. Human error can cost businesses many thousands of dollars per year, and customers are not inclined to report overpayments to tellers or cashiers. In the last 35 years, automated money handling systems, also known as a cash recycling system, are helping businesses watch their bottom line.
A machine that automatically counts and dispenses accurate change to customers during a purchase or bank withdrawal can help prevent theft. A cash recycling system can hold more than $100,000, dependent upon business needs. Removable drawers are easy to maintain, and the closed system acts as a deterrent to would-be hackers or thieves.
A cash recycling system can also save a business or bank significant amounts of time, allowing for higher customer satisfaction when purchasing goods or cashing cheques. In-house cheque scanners can cut transaction times in half, meaning more time for the customer to spend on work or recreation, making repeat business more likely.
Counterfeit money can also be detected by a cash recycling system, many of which utilize computerized scanning equipment to weed out bad bills. Again, tellers and cashiers have historically been required to scan and/or mark large bills to check for authenticity, but a bill that is printed on high-quality paper can slip through, costing the business money and marring the cashier’s reputation.
In addition to individual bill-scanning equipment, many closed system money distributors can accept cheques from customers and they all keep precise track of financial transactions. This makes the manager’s jobs easier at the end of shifts, when they have to reconcile bank deposits and keep accurate track of transaction totals.
A high-quality currency sorter machine also acts as a counterfeit bill detector machine, and scanners for business use are improving customer care and employee confidence with every accurate, quick transaction.