The teller is the worker most people associate with their bank. Among the responsibilities of tellers are cashing checks, accepting deposits and loan payments, and processing withdrawals. Tellers make up approximately one-fourth of bank employees and conduct most of a bank's routine transactions.
Prior to starting their shifts, tellers receive and count an amount of working cash for their drawers. A supervisor—usually the head teller—verifies this amount. Tellers disburse this cash during the day and are responsible for its safe and accurate handling. Before leaving, tellers count their cash on hand, list the currency received on a balance sheet making sure that the accounts balance, and sort checks and deposit slips. Over the course of a workday, tellers also may process numerous mail transactions. They also may sell savings bonds, accept payment for customers' utility bills and charge cards, process necessary paperwork for certificates of deposit, and sell travelers' checks. Some tellers specialize in handling foreign currencies or commercial or business accounts. Other tellers corroborate deposits and payments to automated teller machines (ATMs).
Being a teller requires a great deal of attention to detail. Before cashing a check, a teller must verify the date, the name of the bank, the identity of the person who is to receive payment, and the legality of the document. A teller also must make sure that the written and numerical amounts agree and that the account has sufficient funds to cover the check. The teller then must carefully count cash to avoid errors. Sometimes a customer withdraws money in the form of a cashier's check, which the teller prepares and verifies. When accepting a deposit, tellers must check the accuracy of the deposit slip before processing the transaction.
As banks begin to offer more and increasingly complex financial services, tellers are being trained to identify customers who might want to buy these services. This task requires them to learn about the various financial products and services the bank offers so that they can explain them to customers and refer interested customers to appropriate specialized sales personnel. In addition, tellers in many banks are being cross-trained to perform some of the functions of customer service representatives.
Technology continues to play a large role in the job duties of all tellers. In most banks, for example, tellers use computer terminals to record deposits and withdrawals. These terminals often give them quick access to detailed information on customer accounts. Tellers can use this information to tailor the bank's services to fit a customer's needs or to recommend an appropriate bank product or service.
In most banks, head tellers manage teller operations. They set work schedules, ensure that the proper procedures are adhered to, and act as mentors to less experienced tellers. In addition, head tellers may perform the typical duties of a front-line teller, as needed, and may deal with the more difficult customer problems. They may access the vault, ensure that the correct cash balance is in the vault, and oversee large cash transactions.
Work environment. Tellers work in an office environment. They may experience eye and muscle strain, backaches, headaches, and repetitive motion injuries as a result of using computers every day. Tellers may have to sit for extended periods while reviewing detailed data.
Many tellers work regular business hours and a standard 40-hour week. Sometimes, they work evenings and weekends to accommodate extended bank hours. About 1 in 4 tellers worked part time.
| 1. | Balance currency, coin, and checks in cash drawers at ends of shifts, and calculate daily transactions using computers, calculators, or adding machines. |
| 2. | Cash checks and pay out money after verifying that signatures are correct, that written and numerical amounts agree, and that accounts have sufficient funds. |
| 3. | Receive checks and cash for deposit, verify amounts, and check accuracy of deposit slips. |
| 4. | Examine checks for endorsements and to verify other information such as dates, bank names, identification of the persons receiving payments and the legality of the documents. |
| 5. | Enter customers' transactions into computers to record transactions and issue computer-generated receipts. |
| 6. | Count currency, coins, and checks received, by hand or using currency-counting machine, to prepare them for deposit or shipment to branch banks or the Federal Reserve Bank. |
| 7. | Identify transaction mistakes when debits and credits do not balance. |
| 8. | Prepare and verify cashier's checks. |
| 9. | Arrange monies received in cash boxes and coin dispensers according to denomination. |
| 10. | Process transactions such as term deposits, retirement savings plan contributions, automated teller transactions, night deposits, and mail deposits. |
| 11. | Receive mortgage, loan, or public utility bill payments, verifying payment dates and amounts due. |
| 12. | Resolve problems or discrepancies concerning customers' accounts. |
| 13. | Explain, promote, or sell products or services such as travelers' checks, savings bonds, money orders, and cashier's checks, using computerized information about customers to tailor recommendations. |
| 14. | Perform clerical tasks such as typing, filing, and microfilm photography. |
| 15. | Monitor bank vaults to ensure cash balances are correct. |
| 16. | Order a supply of cash to meet daily needs. |
| 17. | Sort and file deposit slips and checks. |
| 18. | Receive and count daily inventories of cash, drafts, and travelers' checks. |
| 19. | Process and maintain records of customer loans. |
| 20. | Count, verify, and post armored car deposits. |
| 21. | Carry out special services for customers, such as ordering bank cards and checks. |
| 22. | Compute financial fees, interest, and service charges. |
| 23. | Obtain and process information required for the provision of services, such as opening accounts, savings plans, and purchasing bonds. |
| 24. | Compose, type, and mail customer statements and other correspondence related to issues such as discrepancies and outstanding unpaid items. |
| 25. | Issue checks to bond owners in settlement of transactions. |
| 26. | Inform customers about foreign currency regulations, and compute transaction fees for currency exchanges. |
| 27. | Quote unit exchange rates, following daily international rate sheets or computer displays. |
| 28. | Prepare work schedules for staff. |
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