If there's one thing that's revolutionized cash management, it's note recyclers. These handy devices are used in banks and other businesses around the world, and for good reason. Counting notes by hand is time-consuming! In fact, it usually occurs two to three times to make sure the numbers are correct.
Fortunately, note recyclers have changed that.
How, you ask? Let's take a closer look at what exactly it is that note recyclers do and why they're so important to financial institutions and other industries today.
What Is a Note Recycler?
Note recycling machines are very similar to money counter machines. These currency machines perform a simple set of tasks that keeps money moving back and forth between teller and customer without ever losing a single cent. They're most commonly found in banks, retail offices, and credit unions.
Contrary to what its name suggests, this device doesn't actually recycle paper bills the way we recycle paper, plastic, and glass products. Rather, recycling in this sense means that the bills are counted and then redistributed to customers from a teller's drawer. And as mentioned previously, the process is much more efficient with the machine at the helm.
How Does a Note Recycler Work?
These machines may look complex, but the tasks they perform are actually relatively simple. Here's a short breakdown of what happens in an electric cash recycler machine:
- Notes are placed inside of the machine.
- Notes travel through sensors and are tested for authenticity and quality.
- Worn out or counterfeit notes are placed into a “reject” file.
- Notes are recycled into an “output” file for withdrawals.
In simple terms, these machines are super accurate bank tellers. They count, store, and dispense money in an automated series of steps, which allows human tellers to focus on interacting with customers and complete other requests. Not only does this save time, but in the long run, it saves money and eliminates cash handling mistakes.
Time and accuracy. These traits are the two most important deciding factors that go into an institution's use of note recycling machines. Managing coins and bank notes can get to be a complex process, and these handy machines have helped revolutionize efficiency here.