For cash-based businesses, a banknote counter can be a business benefit as well as a smart investment. You might find manually counting cash kind of traditional, but it can also be a tedious, time-intensive chore. There are no doubt other tasks you could attend to, some of them more rewarding than tallying up bills.
Banknote counters can automate this process so you can quickly total up a day's cash proceeds and get on with other jobs on your to-do list.
If you’re thinking about investing in a banknote counter, though, you might be wondering where to start. These five features should be at the top of your list of considerations. By factoring them in, you’ll be able to find the device that best suits your business’s needs.
1. Consider Counting Speed
It might seem obvious to consider the machine’s counting speed. After all, one of the reasons you’re investing in a banknote counter is to speed up the counting process and reduce the amount of time spent handling cash.
Other factors also come into play when considering counting speed, though, 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 may no longer be an advantage. High counting speeds should be matched with high accuracy. The takeaway? Don’t spring for a device just because it boasts the highest count speed.
2. Look at Hopper Size and Type
As mentioned, hopper size plays into speed with banknote counters. Adequate hopper sizing makes using the device more efficient. The less you have to pause to load more bills, the faster the counting process. Speed isn’t a benefit if the hopper size is so small that you have to sit there and feed bills through continuously.
The hopper may be located in different places depending on a machine's feed mechanism, which can affect size. Some hoppers handle bills that are less neatly stacked than others, which means you don’t need to spend as much time straightening up stacks of bills before feeding them through. Both factors can make the count process faster.
3. Seek out 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 can automatically count up to a set number, and then pause so you can remove that batch before continuing.
Other models can even 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 Are Useful Features
Using a banknote counter doesn't help if the machine counts poorly. A cash-counting machine with built-in error detection can lower 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 should also consider basic counterfeit detection features. These features can help you detect fraudulent notes and remove them sooner. They can also make an excellent addition to any loss prevention program.
5. Consider Whether Mixed Bills Can Be Handled
On top of basic counting features, some money counters can accurately count stacks of mixed bills. This saves time when manually sorting bills. It also prevents counting errors when a bill of the wrong denomination sneaks into the stack.
Some machines can even sort stacks of mixed bills into separate single-denomination piles. These devices either count bills while sorting or simply prepare them for counting by another machine.
Banknote Counters Add Up
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. Consider both your business’s needs and the available features. If you’re still not sure, talk to your cash management solution provider. Their advice will help you find the right machine for your needs.