Bank teller
Encyclopedia
A teller is an employee of a bank
who deals directly with most customers. In some places, this employee is known as a cashier. Most teller jobs require cash handling experience and a high school diploma. Most banks provide on the job training.
Tellers are considered a "front line" in the banking business. This is because they are the first people that a customer sees at the bank and are also the people most likely to detect and stop fraudulent transactions in order to prevent losses at a bank (counterfeit
currency and checks, identity theft
, confidence trick
s, etc.). The position also requires tellers to be friendly and interact with the customers, providing them with information about customers' accounts and bank services.
Tellers work from a station, usually located on a Teller Line. Most stations have: A Computer
, Cash Drawers, Receipt Validator/Printers, Proof Work sorters, and paperwork used for completing bank transactions. These transactions include:
In the United States, tellers held approximately 608,000 jobs in 2006. Of these, 1 out of 4 worked part-time. Median annual earnings as of May 2006 were $22,140.
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...
who deals directly with most customers. In some places, this employee is known as a cashier. Most teller jobs require cash handling experience and a high school diploma. Most banks provide on the job training.
Tellers are considered a "front line" in the banking business. This is because they are the first people that a customer sees at the bank and are also the people most likely to detect and stop fraudulent transactions in order to prevent losses at a bank (counterfeit
Counterfeit
To counterfeit means to illegally imitate something. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product...
currency and checks, identity theft
Identity theft
Identity theft is a form of stealing another person's identity in which someone pretends to be someone else by assuming that person's identity, typically in order to access resources or obtain credit and other benefits in that person's name...
, confidence trick
Confidence trick
A confidence trick is an attempt to defraud a person or group by gaining their confidence. A confidence artist is an individual working alone or in concert with others who exploits characteristics of the human psyche such as dishonesty and honesty, vanity, compassion, credulity, irresponsibility,...
s, etc.). The position also requires tellers to be friendly and interact with the customers, providing them with information about customers' accounts and bank services.
Tellers work from a station, usually located on a Teller Line. Most stations have: A Computer
Computer
A computer is a programmable machine designed to sequentially and automatically carry out a sequence of arithmetic or logical operations. The particular sequence of operations can be changed readily, allowing the computer to solve more than one kind of problem...
, Cash Drawers, Receipt Validator/Printers, Proof Work sorters, and paperwork used for completing bank transactions. These transactions include:
- Check cashing, depositing
- Savings deposits, withdrawals
- Issuing negotiable items (cashier's checkCashier's checkA cashier's check is a check guaranteed by a bank. They are treated as guaranteed funds and are usually cleared the next day. It is the customer's right to request "next-day availability" when depositing a cashier's check in person...
s, traveler's chequeTraveler's chequeA traveler's cheque is a preprinted, fixed-amount cheque designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.- Usage :As traveler's cheques can usually be replaced if lost or stolen A traveler's cheque...
s, money orderMoney orderA money order is a payment order for a pre-specified amount of money. Because it is required that the funds be prepaid for the amount shown on it, it is a more trusted method of payment than a cheque.-History of money orders:...
s, federal draft issuances, etc.) - Payment collecting
- Promotion of the financial institution's products (loans, mortgages, etc.)
- Business referrals (trustTrust companyA trust company is a corporation, especially a commercial bank, organized to perform the fiduciary of trusts and agencies. It is normally owned by one of three types of structures: an independent partnership, a bank, or a law firm, each of which specializes in being a trustee of various kinds of...
, insuranceInsuranceIn law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
, lendingCredit (finance)Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
, etc.) - Cash advances
- Savings bond purchase or redemption
- Resolving customer issues
- Balancing the vault, cash drawers, ATMsAutomated teller machineAn automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...
, and TAUsTeller assist unitTeller assist units , also known as automatic teller safes or teller cash dispensers , are devices used in retail banking for the disbursement of money at a Bank teller wicket or a centralized area... - Batching and Processing Proof Work (On-Us/Not-On-Us Checks, Payment Coupons, Counter Slips, etc.)
- May include ordering products for the customer (checks, deposit slips, etc.)
In the United States, tellers held approximately 608,000 jobs in 2006. Of these, 1 out of 4 worked part-time. Median annual earnings as of May 2006 were $22,140.