Cash management is a challenge all major retailers, casinos, banks, and other establishments face on a daily basis. From balancing tills and sorting cash to detecting counterfeit bills, it all adds to the pressure of handling large amounts of cash. While many cashiers have become experts at the duty, the risk of human error always exists. How can retailers streamline the process of cash handling and make it easier for employees and customers?
Cash recyclers are the answer. How does a cash recycler work? This automated cash management solution is used to accept, count, sort, and dispense cash, all at the push of a button. Equipped with counterfeit detectors, sorting systems, and safe storage solutions, cash recyclers are the all-in-one systems businesses can rely on.
If you’ve ever asked “How does a cash recycler work?” this article is for you.
1. How It Handles Cash
The ins and outs of the machine aren’t complicated. Cash recyclers are easy to use and even easier to introduce to your bank, store, or establishment. Here are the basics:
Step One: To deposit money, notes are placed into the input bin.
Step Two: Cash travels inside the machine where sensors count and evaluate the authenticity, denomination, and fitness of the bills.
Step Three: Any rejected bills are sent to the rejection bins.
Step Four: Valid bills are sorted and stored inside the machine in cassettes.
Step Five: For a withdrawal, cash is recycled from the safe to the output bins.
The seamless process all takes place in a matter of seconds, saving you and your employees time, while increasing efficiency.
2. How It Detects Counterfeits
Each cash recycler is equipped with a counterfeit detector. As bills are inserted into the machine, each one is scanned before sorting. This ensures only legitimate bills are accepted, which helps secure your bottom line.
This asset also helps take some of the pressure off tellers to manually detect false bills. With technology advancing, detecting counterfeits has become increasingly difficult, creating stress for cashiers. Avoid this unneeded worry and invest in a cash recycler.
3. How It Improves Efficiency
In terms of efficiency, cash recyclers dramatically reduce the time and effort put into each transaction. For example, in a banking environment, tellers are expected to recount cash three times to ensure the amount is correct. They’re also responsible for watching that tills don’t exceed high levels of cash to mitigate risk.
Each time a teller needs to add to a till, two tellers must withdraw money from the vault. This takes time away from customers and requires additional counting. A cash recycler does all of this and more, allowing employees to focus on their clients and providing exceptional customer service.
4. How It Improves ROI
With cashiers and tellers better allocating their time, your business will be able to focus more employees on more important tasks, such as building customer relations or encouraging sales.
With an average lifespan of over 10 years, investing in a cash recycler is an effective way to reduce many operating costs with cash handling.
5. How to Get Started
The world of cash recyclers is diverse, with several machines available for many different business needs. To learn more about what machine is best for your company, do some research and engage a qualified cash management solutions provider.
Hopefully these answers offer the insights you were looking for when you asked yourself “How does a cash recycler work?”
