Career Development

What Does a Teller Do?

Find out what a teller does, how to get this job, and what it takes to succeed as a teller.

Teller jobs are some of the most common positions in the banking industry. They’re responsible for interacting with customers and providing them with a variety of financial services, including checking account deposits, withdrawals, and transactions; savings account deposits, withdrawals, and transactions; mortgage applications; credit card applications; etc.

Teller Job Duties

Tellers have a wide range of responsibilities, which can include:

  • Processing cash withdrawals from customers’ accounts or selling money orders or other services such as traveler’s checks
  • Processing account transactions such as deposits, withdrawals, and transfers between accounts
  • Maintaining security for the bank by ensuring that all transactions are completed accurately and within federal guidelines
  • Handling customer service issues such as resolving problems with deposits or withdrawals, accepting loan payments from borrowers, or answering questions about accounts
  • Accepting loan applications from potential borrowers, verifying information, and preparing paperwork for approval
  • Processing new accounts by gathering information about the business or individual who will own the account
  • Processing payments, deposits, and other transactions using an automated teller machine (ATM) or other computer terminal
  • Conducting audits of account activity to ensure accuracy of records
  • Reconciliations of accounts to ensure that they accurately reflect balances in the bank’s records.

Teller Salary & Outlook

Teller salaries vary depending on their level of education, years of experience, and the company they work for. They may also earn additional compensation in the form of bonuses.

  • Median Annual Salary: $31,500 ($15.14/hour)
  • Top 10% Annual Salary: $49,500 ($23.8/hour)

The employment of tellers is expected to decline over the next decade.

Automation will allow banks to serve more customers at each branch location, reducing the need for tellers. Automated teller machines (ATMs) are already capable of performing many of the tasks currently done by human tellers. As ATMs become more sophisticated and mobile, they will be able to provide basic customer service functions, such as informing customers about bank promotions or helping them find a particular type of product or service.

Teller Job Requirements

A teller position may require the following:

Education: Teller positions typically require only a high school diploma or GED. However, some employers may prefer an associate’s degree or certificate in accounting or finance.

Training & Experience: Most tellers receive on-the-job training, which may last a few days to a few weeks. During this training period, they learn the company’s policies and procedures, as well as the computer and cash handling systems. They also learn how to interact with customers and how to handle common transactions.

Certifications & Licenses: Certifications allow professionals to prove their qualifications to current and future employers. Tellers can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.

Teller Skills

Tellers need the following skills in order to be successful:

Cash handling: Telling skills are important for handling cash transactions. Telling skills include the ability to count money, make change and handle cash transactions quickly and accurately. Telling skills also include the ability to identify counterfeit money.

Customer service: Customer service is the ability to interact with customers in a friendly and helpful manner. Teller skills in customer service involve greeting customers, listening to their needs and answering their questions. Providing excellent customer service can help build trust with customers and encourage them to return to the bank.

Product knowledge: Teller skills involve product knowledge, which is the ability to answer customer questions about the bank’s products and services. This includes knowing the features of each product, how to apply for them and how to use them. Teller skills also include knowing the bank’s policies and procedures, which can help you answer customer questions about them.

Communication: Communication is another skill that can help tellers succeed in their careers. They often communicate with customers, other tellers and other bank employees. They should be able to clearly explain financial information and answer customer questions. They should also be able to communicate with other employees to ensure that transactions are processed correctly.

Problem-solving: As a teller, you may be the first person a customer speaks to when they have a question about their account or a transaction. It’s important to be able to solve customer issues and help them feel satisfied with their experience. You may also be responsible for resolving customer disputes. This requires you to be able to think critically and find solutions that satisfy both parties.

Teller Work Environment

Tellers are the public face of the bank and must project a professional and courteous image at all times. They work in well-lit, clean, and air-conditioned areas. Most tellers work a five-day, 40-hour week, although some banks are open on Saturdays and Sundays, and tellers may be required to work weekends. Many tellers are members of a union, such as the American Federation of State, County, and Municipal Employees, which negotiate wages and benefits on their behalf.

Teller Trends

Here are three trends influencing how tellers work. Tellers will need to stay up-to-date on these developments to keep their skills relevant and maintain a competitive advantage in the workplace.

The Rise of Mobile Banking

The rise of mobile banking is a trend that is quickly changing the way people bank. With the increasing popularity of smartphones and tablets, customers are now able to access their accounts from almost anywhere.

This means that tellers will need to be familiar with mobile banking services and how to use them. They will also need to be able to help customers who are having trouble with their devices or have questions about how to use the apps.

Banks Will Focus on Customer Service

As banks focus on customer service, tellers will need to be prepared to handle a wide range of tasks.

This includes everything from helping customers with basic transactions to providing advice on financial products. In order to be successful in this environment, tellers will need to be well-versed in all aspects of banking and be able to communicate effectively with customers.

More Use of Technology in Banks

Banks are increasingly using technology to improve the customer experience. This includes the use of self-service kiosks, online banking, and mobile apps.

As technology becomes more prevalent in banking, tellers will need to learn how to use these tools to provide better service to customers. This includes training on how to use self-service kiosks and how to set up online banking for customers.

Greater Attention to Security

As banks become more reliant on technology, they are placing greater attention on security. This is leading to an increased demand for tellers who can help customers manage their accounts safely and securely.

Tellers who are able to understand the latest trends in security will be in high demand as banks look for ways to protect their customers’ data.

How to Become a Teller

A teller career can be a great way to get started in the banking industry. As a teller, you’ll learn about different products and services offered by banks, as well as customer service skills that can be applied in any industry. You’ll also gain experience working with money and handling transactions.

As you progress in your career, you may want to consider becoming a branch manager or supervisor. This role offers more responsibility and requires additional skills, such as leadership and management skills.

Related: How to Write a Teller Resume

Advancement Prospects

A teller may eventually advance to a head teller position, in which he or she supervises the work of other tellers. Some tellers may also advance to loan officer, new accounts officer, or customer service representative positions. Some tellers with previous experience in bookkeeping or accounting may be promoted to assistant branch manager or branch manager positions.

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