Bank tellers work the counters at the bank. They are responsible for direct customer banking interactions. They accurately handle and process routine transactions customers request. These transactions include cashing money orders or checks, depositing money, and collecting loan payments.
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How to Become a Bank Teller
A high school diploma or equivalent is required to become a bank teller. Some have college credits or degrees, but this is usually never required. Tellers usually receive on-the-job training that can last up to 4 weeks. This training is usually provided by an experienced teller or the head teller within the financial institute you work for. Strong math computation, communication skills, and being detailed oriented are key components in becoming a teller.
Training usually includes how to balance cash drawers, verify signatures, learn the computer software, kinds of financial products and services the bank offers, or security procedures. In addition, the hiring bank will do a credit and background check to ensure you are in good standing.
Job Description of a Bank Teller
Tellers provides account services to customers by receiving deposits, cashing checks, distributing savings withdrawals, logging night and mail deposits, issuing cashier’s checks or traveler’s checks, and answering questions in person or on telephone. Their primary responsibility is safely and accurately handling customer’s money they process. They must verify all customer’s identity and ensure that the account has enough funds to cover the transaction requested. If a customer is interested in financial products or services they may explain the products and services offered by the bank and refer to the appropriate personnel.
Most tellers are hired full time and work during the day. They often stand in one position most of the day. There is a decline in teller positions, due to mobile banking and banking. These automations require less tellers, allowing customers to have virtual interactions through web cams or ATM’s. The Bureau of Labor Statistics projects a decline in this career.
Free Teacher and Student Resources
The University of Michigan offers a free Finance for Everyone course on EdX.org (link opens in a new tab) with the option to pay a small fee receive a verified certificate upon completion of the course.
By taking this course, you’ll learn:
- Why finance is everywhere and how it affects all of us.
- An understanding of the financial world, and an appreciation for the beauty and power of finance.
- Gain the fundamental knowledge, skills, and tools of finance and the ability to apply them everywhere, in personal and professional situations.
- Different frameworks for decision-making.
- Acquire skills in using different decision-making tools, and learn to make sound personal and professional financial decisions.
- The concept of Time Value of Money (TVM) and apply related tools and frameworks to everyday decisions.
Bank Teller Career Video Transcript
Whether customers visit the bank to deposit a paycheck or just check their account balance… the person they stand in line to see is… the teller. Tellers process routine transactions, such as cashing checks, depositing money, and collecting loan payments. They are responsible for the safe and accurate handling of the money they process, and must be extremely careful to avoid errors. Head tellers set tellers’ work schedules and help those with less experience. They may deal with customer problems, such as errors in customer accounts. Head tellers also go to the vault for larger sums, and ensure that other tellers have enough cash to cover their shift.
Tellers rely on math skills for much of their work, but their bread and butter is customer service. As the face of the bank, they must be friendly, helpful and able to understand customer inquiries and explain services well. Tellers primarily work in bank branches, keeping full time hours. Part-time work is not uncommon. Most tellers have a high school diploma and receive about 1 month of on-the-job training. Banks may do background checks before hiring. Experienced tellers can advance within their banks to become head tellers, supervisors, or other occupations such as loan officer or sales positions.
Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Tellers.
National Center for O*NET Development. 43-3071.00. O*NET OnLine.
The career video is in the public domain from the U. S. Department of Labor, Employment and Training Administration.