What Does A Bank Teller Do And How Does A Bank Teller Work?

When you go to the bank, to do your random transaction, you definitely have come in contact with a bank teller.

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Who Is A bank teller 

A Bank Teller is usually an employee in the bank who handles all the cash transactions, they are also referred to as customer representatives.

They are considered front-liners because they are the first point of interaction for customers as they enter the bank.

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They verify the identity of customers and process requests for deposits and withdrawals from patron accounts. They generate certified checks and money orders according to the needs of the customer.

Because they are front liners they are most likely to detect and stop fraudulent transactions in order to prevent losses at a bank (counterfeit currency and cheques, identity theft, confidence tricks, etc.). 

The position also requires that the tellers are smart, proactive, friendly, and interact with the customers, providing them with information about customers’ accounts and bank services. 

Tellers work from a station in the bank, this station is usually called a teller line. Most stations have a teller system, which includes cash drawers, receipt validator/printers, proof work sorters, and paperwork used for completing bank transactions. 

A list of Bank Teller transactions include:

  • Check cashing, depositing, transfers, wire transfers
  • Savings deposits, withdrawals
  • Issuing negotiable items (cashier’s checks, traveler’s cheques, money orders, federal draft issuances, etc.)
  • Payment collecting
  • Promotion of the financial institution’s products (loans, mortgages, etc.)
  • Business referrals (trust, insurance, lending, etc.)
  • Cash advances
  • Savings bond redemption. Paper savings bonds can no longer be purchased, only electronic bonds are available for purchase now, so banks can no longer issue bonds.
  • Resolving customer issues
  • Balancing the vault, cash drawers, ATMs, and TAUs
  • Batching and Processing Proof Work (On-Us/Not-On-Us Checks, Payment Coupons, Counter Slips, etc.)
  • May include ordering products for the customer (cheques, deposit slips, etc.)

Is A Bank Teller’s Work Difficult?

The answer to that question is a very big Yes. The job of a bank teller can be quite stressful.

There are a lot of factors at play, and there is a significant amount of risk when dealing with large sums of cash. A bank teller must always follow procedures very carefully and work smartly.

A large part of a teller’s job is being able to spot and prevent fraudulent behavior and that requires a whole lot.

Qualities Of A Good Teller

There are several qualities that a good bank teller must possess, which include;

  • Honesty and Integrity

A good teller must be honest at all times, even in worse situations that could make them lose their jobs. It is very important a bank teller has integrity because people and the bank are trusting you with their money.

  • Pay Attention To details

Apart from handling cash transactions, a good teller needs to pay attention to details in order to detect fraudulent activities that could cause loss to the bank.

  • Good Communication Skills. 

This is very important because in the bank you have a lot of people from different social statuses so a bank teller must be able to communicate in any manner Required of them. They need to be flexible in their communication with customers.

  • Knowledge of financial software

Bank tellers must be able to use specialized financial software. Training may be available on the job, but understanding the software beforehand, is an advantage.

  • Basic accounting

Bank tellers handle huge sums of money and therefore must be able to keep track of numbers. In most cases, transactions are usually tracked by computers, but as a teller, you need to be acquainted with basic accounting skills and respond with ease if there’s an issue

Duties And Responsibilities Of A Bank Teller

Below is a list of duties a bank teller is expected to carry out.

  • Count their drawer cash at the start of a shift
  • Take cash, checks, debit cards, and other payment forms from customers
  • Answer account-related questions for customers
  • Prepare specialized types of funds for customers, including savings bonds, traveler’s checks, and money orders
  • Exchange customers’ money for foreign currency
  • Place customer orders for checks and bank cards
  • Electronically record every transaction during their shift
  • Count their cash drawer at the end of their shift and reconcile to the beginning balance

Is Working As A Bank Teller Lucrative?

Most banking firms offer excellent benefits, which include offers like medical insurance, disability insurance, sick leave, vacations, and retirement options.

Banking firms are highly regulated and well managed with a set of principles governing every aspect of their financial operations, making them excellent environments for safe, pleasant, and rewarding places to work.

Example Of Bank Teller Interview Question

  • What do you believe is the most important thing in customer service?
  • If you found a way to do a task more efficiently than the way you were instructed, what would you do?
  • Have you had any experience handling cash? If so, where and how did you gain your experience?
  • If an existing customer became angry over a new bank verification policy, how would you handle it?
  • If you were facing a problem with a customer and did not know how else to proceed, what would you do?

Do You Have To Be Good At Math To Be A Bank Teller?

The answer is yes. Bank tellers need strong math skills in order to count and handle large amounts of money.

When a customer wants to withdraw money, tellers must be able to determine whether the client’s account balance meets the requirement for the transaction

Reasons To Work As A Bank Teller

Working in a bank generally is a good experience for anyone both now and in the future.

Another reason to work as a bank teller is because of the prestige it gives you banking jobs are very difficult to get.

It’s a privilege working over there and it gives you this sense of achievement. Another reason why you should work as a bank teller is the fact that you get a lot of exposure working as a bank teller, you also get the chance to meet big personalities and create opportunities for yourself.

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