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What does a
Bank Teller do?

Click here to view all Bank Teller jobs on neuvoo.ca.
Other common names for this position: Bank Clerk, Retail Banker, Commercial Banker, Bank Cashier, Customer Services Representative, Credit Union Teller

Description

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).[1]


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.

Primary Responsibilities

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.

Daily Tasks

  • 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.
Salary
$28,265

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.

$28,265
$40,000
$20,000
Deductions
Deductions
Gross Salary28,265.25 $
CPP- 1,225.85 $
EI- 531.39 $
Federal Tax- 2,105.28 $
Provincial Tax- 1,140.61 $
Total Tax- 5,003.13 $
Net Pay*23,262.12 $
In Ontario, Canada, if you make 28,265.25 $ a year, you will be taxed 5,003.13 $. That means that your take home pay will be 23,262.12 $ per year, or 1,938.51 $ per month. Your average tax rate is 17.70% and your marginal tax rate is 25.52%.
* Deductions are calculated based on the tables of Ontario, Canada income tax.
Job Offers
There are currently 207 available job offers for the Bank Teller position on neuvoo.ca. Below is a list of available jobs, based on Canada's most populated metropolitan areas.
Education is key ! Over [number] graduates attended one or more of these schools prior to becoming a Bank Teller. These Schools usually offer specialized courses and programs that impart the necessary knowledge and skills required by most employers.
Top 5 Schools in Canada
to become Bank Teller
  • 1
    Montreal, Quebec
  • 2
    Montreal, Quebec
Required Skills and Qualifications
  • Outstanding interpersonal and communication skills:
  • Communicating clearly, both in writing and verbally, in order to build trust and cultivate relationships with clients, coworkers, and executives;
  • displaying impeccable and professional phone demeanor;
  • displaying strong customer skills in order to anticipate customers’ needs and handle their requests in a proactive, diplomatic, and tactful manner;
  • having a friendly and engaging personality in order to foster and maintain positive client relationships; and
  • being a demonstrated team player.
  • Exceptional organizational and time management skills:
  • Prioritizing and planning work activities as to use time effectively while handling a high volume, diverse workload;
  • multitasking; and
  • being able to work in a dynamic, fast-paced environment.
  • Analytical and problem-solving skills:
  • Effectively reading and interpreting information; and
  • identifying issues and resolving problems in a timely manner using creativity and good judgment.
  • Outstanding attention to detail and high levels of thoroughness:
  • Ensuring the compliance with internal security measures; and
  • staying focused during highly repetitive tasks.
  • Administrative skills:
  • Demonstrated proficiency in computer spreadsheets, database applications, banking platforms, and accounting systems;
  • being able to operate basic office equipment, such as copiers and printers; and
  • willing to learn new technologies.
  • Strong math skills:
  • Ability of adding, subtracting, multiplying and dividing in a timely manner;
  • ability of counting and handling large amounts of money; and
  • capacity of preparing daily balances.
  • High levels of initiative, flexibility, and responsiveness:
  • Being able to learn and adapt quickly, while facing continuously changing demands; and
  • working toward improving current organizational processes as to make them more efficient and less time-consuming.
  • High levels of honesty, discretion, and integrity:
  • Being trustworthy enough to handle sensitive/confidential information.
  • Exceptionally resourceful with an extensive knowledge of standard office practices, procedures, and equipment.

The Bank Teller job is usually considered an entry-level position; hence, the minimal educational requirement is a high school diploma. However, more and more employers now seek candidates who have completed post-secondary courses or have earned a higher academic degree, such as a college or university degree in Administration, Banking, Accounting, or Finance studies. Moreover, any higher level of education is often recognized as experience and will eventually allow candidates to apply for higher positions, especially for those who wish to pursue their career in the Banking field. Bank Tellers who demonstrate outstanding administrative skills in their performance and/or have a college or university degree in the aforementioned fields, will have a greater chance of being promoted in the future. Previous experience in Finance, Banking, or Accounting is also a definite asset.


Due to the nature of this position and the sort of personal information that is being managed, candidates to the Bank Tellers position must pass a background check. Likewise, applicants are usually exposed to a series of tests to measure their aptitude with figures. Since it is commonly conceived as an entry-level position, successful candidates receive an on-the-job training to learn about the bank’s security, audit, compliance procedures, financial application software, and safe handling of money.

References