Bank Tellers stand as the first point of contact that is available for customers at financial institutions. Their duties encompass administrative tasks (e.g. filing, planning, and report writing), customer support, and the promotion of the institution’s services.
Bank Tellers provide assistance and guidance on a variety of financial transactions (e.g. deposits, checks, electronic, withdrawals, and purchases) and products (e.g. bank accounts, certificates, loans, credit cards, debit cards, bonds, shares, insurance, and mutual funds).
Bank Tellers’ performance is crucial for a financial institution’s operations; they have to guarantee that every transaction is carried out properly by observing the security measures required in order to ensure that the funds are transferred to the correct destination, meeting the customers’ requirements. In this regard, Bank Tellers are responsible for the money flowing in and out of their stations; therefore, they have to verify the customer’s identity before processing any request.
Here’s a non-exhaustive list of common tasks Bank Tellers are required to complete.
- Providing guidance, support, and transactional services to customers:
- Providing guidance on financial products and banking-related services, while meeting the customers’ needs;
- communicating with employees and other individuals to follow-up on financial transactions;
- responding to customers’ complaints and consultations regarding financial products and the status of their transactions; and
- answering inquiries about services.
- Handling financial transactions:
- Accepting payments from new and existing customers;
- counting and disbursing cash for deposits and withdrawals;
- repairing incoming wires that are not aimed at being added to the client’s account(s);
- preparing cashier’s checks, personal money orders, issuing traveler’s checks, and exchanging foreign currency;
- opening new accounts for new and existing customers;
- verifying checks and issuing demand drafts; and
- coordinating, if required, activities between customers and different departments within the organization with the aim of carrying out financial transactions.
- Ensuring compliance with all internal controls and established policies and procedures, in order to guarantee transparency in every transaction held:
- Counting working cash at the beginning and at the end of their shift;
- verifying customers’ identities;
- validating checks before being cashed; and
- validating if the information contained in deposit slips is correct.
- Maintaining detailed records on the transactions executed daily:
- Compiling, copying, sorting, and filing records of office activities and financial transactions;
- keeping a thorough daily record of every activity and incidence held at the institution; and
- updating filing, inventory, mailing, and database systems.
- Drafting communications (e.g. letters and emails) to customers regarding payment reminders, warnings for action against payment default, or account status updates.
- Maintaining a thorough record of the transactions held daily in the bank, from a check being cashed to a loan being taken out.
- Making deposits and withdrawals.
- Opening bank accounts.
- Maintaining several accounts records (e.g. journal, ledger, and balance sheet).
- Filing deposit slips and other paperwork.
- Sorting checks.
- Handling correspondence and balance accounts.
- Preparing bank reconciliations.
- Registering deposits and updating receivable accounts.
- Processing transaction requests for credit card customers.
- Accessing workflow systems and a number of other bank systems.
The average Bank Teller salary is $28,265 per year or $14 per hour. This is around 0.9 times less than the Median wage of the country. Entry level positions start at $20,000 while most experienced workers make up to $40,000. These results are based on 12 salaries extracted from job descriptions.