Handling Large Amounts of Cash? Invest in a Cash Recycling Machine

Cash management software

Accuracy and security are perhaps the most important words to banks and businesses dealing with large volumes of cash. In order to account for human error, lengthy procedures are needed, and that takes time and decreases efficiency. A cash management accounting system can take the risk of human error out of the picture, speed up transactions, and allow employees to focus on customer service. Currency counting machines can do all of the tasks normally required of a teller such as counting stacks of bills or loose coins with 100% accuracy and in less time.
What Is A Cash Recycler?
A cash recycling machine can:

  • sort coins
  • sort bills
  • detect counterfeit bills
  • dispense coins
  • dispense bills
  • serve as a safe

How Do I Know If I Need A Cash Management Accounting System?
Any bank or business dealing with large volumes of cash would benefit from having a currency sorting machine. A bank teller must have a minimum amount of cash and coins in the drawer at all times. When more bills or coins are needed, a trip to the vault is required and a process of verifying takes place. Similarly, when the drawer is over the maximum, another vault trip is required. Because it serves as a secure safe, an electronic coin sorter and counter would eliminate these trips and verifications that take valuable time.
Counting bills by hand is time consuming and must be done 2 or 3 times to ensure accuracy. A cash counting machine performs the task with 100% accuracy the first time and at a fraction of the speed. The time saved can be used to improve customer relations. Tellers can answer banking questions or sell other services.
What About Counterfeit Bills?
Counterfeiting is one of the oldest crimes in history, and it takes a carefully trained eye and attention to detail to spot a fake. The cash recycler doubles as a counterfeit detector machine and can spot the fake immediately, saving the company both time and money.
What About Security?
In addition to the cash recycler machine serving as a secure safe, security is also improved by limiting the time cash is exposed. Because all the counting is done inside the machine, cash spends significantly less time at the teller’s window.
What About Reliability And Service Of The Machine?
Companies servicing these cash management accounting machines understand how vital they are to a business or bank. For this reason, a variety of support contracts are available. On-site service support generally includes phone support, parts, travel and labour required to repair and restore equipment to its optimum operating condition. Scheduled preventative maintenance visits are are also included in an on-site contract. Other types of contracts might include loaner replacement equipment available with quick turnaround to fill an immediate need.

An Efficient Currency Sorter Machine Saves Time, Prevents Errors

Counterfeit bill detector machine

What do you think your customers use their jar of loose change for? Once they cash in their coins, are they using that amount as their limit when they find a slot machine in Ontario? Are they letting their children use it for spending money on their summer visit to Canada’s Wonderland?

Whether your banking clients are using their cashed in coins to entertain themselves or their children, or whether they are socking those coins away into savings, as a financial institute you are only thinking about two things when that large bag of coins comes to your teller window: speed and accuracy. The most current and accurate currency sorter machine can give your retail cash management location both speed and accuracy.

If you are a business other than a financial institution, it is just as important that you have a fast, efficient and safe way to process currency. An electronic coin sorter and counter, as well as a fraud-fighter counterfeit machine, purchased from a reliable company can ease the process and improve security by providing well trained support personnel. Making your currency sorter machine purchases from a company that also provides account managers, project managers, highly-trained field service representatives, repair technicians, and logistics experts ensure you always have the support you need when it comes to your cheque, cash and coin processing.

Fully electronic counters, machines that are able to count batches of notes or of coins without having to process them individually, were first introduced in Great Britain in the early 1980s. Fast forward 30 years and cash counting machines now allow a business to maintain 100% assured accuracy for cash transactions. Since the earliest use of a currency sorter machine, the goal has always been efficiency and accuracy. Another major reason that businesses and companies use money counters, obviously, is the amount of time it saves them. Without a bill and coin sorter and counting device, counting notes by hand is time consuming and is usually completed two or three times to make sure the numbers are correct to compensate for any human error.

Whether you are a small business owner in a northern remote part of Canada, or are a small banking institution in Winnipeg, it is important for you to be able to process both coin and paper currency quickly and accurately. Making the decision to purchase a counterfeit bill detector machine and commercial coin counting machines from a company that also provides fast and quality service is key to your success. Your time is important, so yo need technicians with quick local response time that can be tailored to your needs and work within your schedule to get your equipment up and running quickly and accurately.