If you’re a business that deals with a lot of cash—but perhaps doesn’t have much experience in the financial industry—you may be wondering what machines can aid you in safe and precise cash handling. Here are some simple descriptions that can help you decide what your business needs:
Cash Recycling Machines
A cash recycler accepts and dispenses cash. It also provides secure storage and automatic accounting of cash. A cash recycler is typically found in a bank or credit union, but Iif you have a retail business that deals with quite a bit of cash, this might be a worthy investment to ensure safe cash storage and accurate counting. They also allow for self-service, so your customers can withdraw if they need to pay in cash.
Currency Counting Machines
Currency counting machines may be standalone or integrated into other machines, such as ATMs or vending machines. Essentially, these are exactly what they sound like: They count money, either banknotes or coins, to provide a total count. They can also group specific kinds of currency in batches to be appropriately wrapped or otherwise packaged.
Cheque Scanners
Cheque Scanners are typically portable, countertop devices that take scanned images of cheques. Not only can having one of these increase efficiency for businesses who process many personal or bank cheques, they also keep records according to specific legal and financial specifications.
Counterfeit Bill Detector Machines
If you deal with very little cash or your business is at low risk for accepting counterfeit currency, you may be able to get along with training your cash handlers to scrutinize certain bills, perhaps assisted by detecting markers. But a counterfeit detecting machine can also be quite affordable. Typically, these use ultraviolet light and magnetic sensors to detect counterfeit bills.
What machines have you found to be the best value when it comes to increasing the efficiency of your business and reducing your risk regarding cash handling? Do you have any cash recycling or scanning machine recommendations, or advice when it comes to repairs? Share in the comments.