For cash-based businesses, purchasing a bank note counter (also known as a money counter or currency counter) can be both a smart investment and a great relief. There's something nice about counting piles of money the first few times, but it quickly becomes a tedious, time-consuming chore.
Bank note counters automate this process so you can quickly total up a day's cash proceeds and get on with other important tasks. Before you buy a counter, take these five tips into consideration:
1. Counting Speed
This one seems fairly obvious, but not so fast. Speed is important, because speeding up the process of counting cash is the whole point. But other factors also come into play, such as a machine's hopper size. If you have to keep loading stacks of bills because the hopper is too small, the machine's speed is no longer an advantage. High counting speeds also need to be matched with high accuracy. So speed needs to be balanced against other factors.
2. Hopper Size and Type
Having an adequate hopper size is important for speed, because it makes it more efficient. The less often you have to pause to load the hopper up with more bills, the faster the counting process. The hopper can be located in different places depending on a machine's feed mechanism, and some hoppers can handle bills that are less neatly stacked than others.
3. Batch or Adding Features
Some money counting machines have a batching feature, which is helpful if you need to manually strap cash for deposit. The machine will automatically count up to a set number, and then pause so you can remove that batch before continuing. Other machines will add together multiple batches of bills fed into the hopper, running a continuous count and giving you the total at the end.
4. Error and Counterfeit Detection
Using a machine to count doesn't help if the machine counts poorly. A money counting machine with built-in error detection lowers the chance of miscounts due to folded or torn currency, multiple notes feeding at the same time, or bills of the wrong size. Businesses that experience a higher-than-usual level of counterfeit bill fraud, such as convenience stores and gas stations, may also want basic counterfeit detection features.
5. Mixed Bill Counters and Sorters
In addition to basic counting features, some money counters can also accurately count stacks of mixed bills. This saves time when manually sorting bills, and it prevents counting errors when a bill of the wrong denomination sneaks into the stack. Some machines sort stacks of mixed bills into separate single-denomination piles, either counting them while sorting or simply preparing them for counting by another machine.
Get Counting Help Today!
A note counting machine can be a great help to many businesses, speeding up the process of counting cash while simultaneously reducing counting errors and improving cash handling. With a large range of available features, it's important to analyze your business needs and choose the right machine to get the best return on your investment.