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. They are in charge of assisting customers with any transaction they may require to do, from making deposits and withdrawals, to opening new debit and credit accounts, as well as offering them all the information they require regarding their personal banking accounts or the operations they are conducting. They must be knowledgeable in all the usual operations of a bank.
Bank Tellers need to pay special attention when receiving or handing money to clients, as any mistake can cause several delays, complications, and inconveniences for customers; as well as losses for the bank.
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 colleagues 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);
- issuing traveler’s checks, and exchanging foreign currency;
- opening new accounts for new and existing customers;
- preparing and verifying checks and issuing demand drafts;
- filling all the necessary paperwork;
- managing electronic banking systems and spreadsheets; and
- coordinating 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;
- ensuring the information contained in deposit slips is correct; and
- informing supervisors of any problem or incompatible, misleading information.
- Maintaining detailed records on the transactions executed daily:
- Organizing all paperwork and updating database systems; and
- keeping a thorough daily record of every activity and incidence held at the institution.
- Drafting all administrative paperwork including reminders, warnings, and updates in order to inform customers on relevant financial matters on theirs accounts and their status.
The average Bank Teller salary in USA is $26,520 per year or $14 per hour. This is the same as the Median wage of the country. Entry level positions start at $19,000 while most experienced workers make up to $37,000. These results are based on 429 salaries extracted from job descriptions.
- 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;
- dealing with difficult, stressed, and nervous clients in a proper, friendly, and patient manner; and
- being a demonstrated team player.
- Exceptional organizational and time management skills:
- Prioritizing and planning work activities as to use time effectively while managing 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;
- being accurate when working with clients’ banking accounts or when making transactions; 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;
- being able to work in a stressful environment; 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 an associate’s degree or a bachelor’s degree in Administration, Banking, Accounting, or Finance. 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 may also pursue training programs which often include information about banking rules, restrictions and regulations, morals and principles, etc. This is not a requirement, but getting a certification is guaranteed to highlight candidates’ professional skills.
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.