For the consumers looking for more efficient and convenient ways of doing banking processes, Interactive Teller machine is the answer. It has presented a whole new way of handling customers and making them more interested in banking operations. Modern banking institutions are increasingly adopting video remote tellers, also known as interactive tellers. 

These are real-time experience machines that enable customers to interact and perform banking operations at the same time. For the convenience of customers, these machines are fitted with a touch screen, handheld phone, and buttons. 

Functions of an interactive teller machine 

• Deposit bills and checks
• Perform card-less transactions
• Cashing checks for bills
• Perform fund transfers 
• Opening new accounts
• Order debit card replacement
• Place inquiries and perform CD renewals
• Make credit card payments

Other popular names for Interactive teller machine

• In-Line Teller (ILT)
• Personal Teller Machine (PTM)
• Teller Assist Unit (TAU)
• Automated Interactive Teller (AIT)
• Video Teller Machine (VTM)

Benefits of interactive teller machine for customers

• Consumers can efficiently perform ID verification if their credit card is stolen or lost.
• The teller machine can dispense any amount of cash, including any denomination of bills. It also helps in Cash Automation. 
• Users get the convenience of human touch and real-time interaction, which is nowhere available with ATMs.

Benefits of interactive teller machine for financial institutions

• The interactive teller machine enhances the user experience by making the banking operations more convenient. 
• The availability of banking support gets extended. Customers can even perform banking operations at odd hours.
• With the usability of the interactive teller machine, the employees can be freed and made available for high-level operations.
• As the machine enables 75% of banking operations without the involvement of banking professionals, it saves a lot of costs associated with them. 
• Financial and banking institutions can go global, defying the geography and hours of banking operations. 
• Financial institutions are capable of providing real-time connectivity without the risk of offline incompatibilities. 
• The teller machine decreases the cost per transaction and saves a fortune for financial institutions. 
• Being modern and competitive technology, the machines give financial institutions a pace ahead of the competition.  

With so many benefits for financial institutions and their consumers, the Interactive Teller machine is a good investment. Contact www.bankersequipment.com for information. Bankers Equipment offers a wide range of equipment solutions for banking institutions, casinos, and retail units. 

Bankers Equipment Service considers that to give real service you must add something extraordinary to your business. Thus, they provide the highest level of service, products, and solutions that enable the customers to prosper. They meet or exceed customers’ expectations while maintaining a positive environment that provides success for the team members and the company. The range of innovative, proven and compact Cash Counter & sorters of Bankers Equipment Service are designed for counting and reconciliation tasks in both front and back-office environments, in banking, across retail, and in the gaming sector.

Bankers Equipment Service has now expanded the business within the following industries: Financial, Casino, Retail. Customer satisfaction is their main goal. At Bankers Equipment Service, first, they take the time to learn about your business, pain points, and goals. With this information in hand, they identify the right technology to meet your demands. In this way, they ensure that your business needs are addressed and problems are effectively solved. 

Let’s take a look at the three-step approach Bankers Equipment Service follow:

• Identify the right solution to fit your unique needs.
• Educate you on how to best use your equipment.
• Maintain equipment for longer lifecycles.

Need the best Retail Cash Management solution? If so, you can count on Bankers Equipment Service for it? The idea behind Retail Cash Management is to automate the entire cash handling process, from the point of sale to bank deposit. By switching from manual cash handling to cash management, a retail business will improve in several areas. 

Bankers Equipment Service is dealing in many products and services viz. ATM’s, Online Teller Machines, Remote Cash Capture, Document Management, Payment Systems, Cash Recyclers, Lobby Self Service Coin, Coin & Currency Sorter, Strategic Branding, FISASCORE, Backup/Disaster Recovery, IT Security, Ticket Redemption Kiosks, Remittance Process and many more. 

Bankers Equipment Service provides a wide variety of quality document management solutions including check encoding and audit equipment, teller printers, folders, joggers, shredders along check and document scanners. In casinos, they provide “best of breed” ticket redemption. Their innovative technology automates your cash chain - from POS to the Cage through the audit process to the Bank.

The payment dealing out way out captures images and data from payment coupons, captures MICR data from the accompanying checks, electronically interprets the handwritten or printed amounts from the checks.

For further details about Retail Cash Management please visit www.bankersequipment.com. 

In the financial services sector, the term "cash management" is widely employed. Everyone, from the CEO to the janitor, understands the need for proper cash handling and money management. The necessity of cash handling, on the other hand, can be overlooked in the retail industry.

ARCA's Jeff Hauser, marketing professional, and retail market expert highlighted a few of the reasons why cash handling is so critical.

"Cash processing is critical in the retail industry," Hauser added, "especially as competition and the urge to differentiate through customer experience grows." "It's vital to establish loyal customer bases by focusing less on payment administration and more on customer engagement."

So, what can go wrong if you don't handle your money properly? Here's what you should know:

Retail’s Most Common Issues

"Retail Cash Management" is defined as the process of collecting and disbursing money in a firm through a cash counter. This encompasses teller interactions and ATMs, to name a few instances at a bank. Cash handling over the cash counter in retail includes everything from the point of purchase to day-to-day managing money.

"Managing cash increases efficiency and security."

Before we go over the ins and outs of successful cash handling, it's important to understand what can go wrong if you don't have it. The following are three prevalent issues in the retail industry:

Inadequate Thorough Research

Due diligence is one of the most important reasons for cash-handling procedures at the cash counter. Do you always know where your money is? Do you have any idea who has access to it or where it's going? You'll have these answers if you manage your money well. You could quickly run into issues with book-keeping, fraud, theft, errors, and cash flow if you don't have it.

There Is No Paper Trace

The lack of a paper trail is the second typical issue. Retail Cash Management guarantees that you are aware of where your money is and who has access to it. On the other hand, ineffective systems will make it much more difficult to detect and correct issues.

This implies you won't be able to trace a discrepancy in your safe back to its source if you detect it at the end of the day.

Faults in Security

The third issue that arises frequently is one security. Retail Cash Management, whether through regulations or technology, can help your company become more secure.

You'll have more control over your money, including who has access to it, which will help you avoid fraud, theft, and security breaches. Your company's financial security may be jeopardized if you don't handle cash.

If you require any assistance regarding your bank’s cash counter retail cash handling, then please do not forget to connect with Bankers Equipment and get your retail cash management with ease today...

While these are only three frequent issues, proper retail cash management will help your organization in a variety of ways, the most important of which is increased efficiency, security, and convenience.

Cash Automation refers to the process of counting, dispensing, and managing cash using specialized technology in order to improve accuracy and lower costs associated with manual cash handling. The following are some examples of common products and solutions:

Cash registers

A currency counter does precisely what it says on the tin. When compared to manual counting, the advantages are faster and more accurate cash counting. High-speed single-pocket counters can value count a variety of currencies while also detecting counterfeit notes.

Sorters of money

A cash sorter can count mixed denominations in one pass and provide a value count and denomination breakdown. Two or more pocket machines continuously process currency and can separate counterfeit bills into separate pockets.

Cash sorters with three or more pockets can count and value mixed currency, sort by denomination and orientation, and detect counterfeit notes.

Recyclers of cash and coins

The entire cash cycle is automated with a cash and coin recycler: accepting and dispensing cash, securely storing banknotes and coins, and tracking cash on hand. Transactions, reconciliations, and deposit preparation are all sped up thanks to the technology in these machines. Provisional credit and CiT (Cash in Transit) options are available to customers who use cash recyclers.

What are the advantages of your company?

As a cash business owner, you may see fluctuations in your cash on hand at any time of day, week, or month. The cash that is securely deposited into your cash and coin recycler is made available to you using cash automation Insight software and provisional credit, which is daily credit issued to your account by your bank.

Since the first credit cards were introduced in the early twentieth century, we've been hearing about the coming "cashless society," but cash is still around. Even with an ever-growing number of smartphone-based digital payment platforms (e.g., PayPal, Apple Pay) and cryptocurrencies, cash appears to be here to stay.

Low-cost and time-saving

Cash automation technology is being used by businesses of all sizes to improve security and accuracy while also saving time and money. Consider the advantages of cash automation if your business relies heavily on cash transactions. Cash transactions typically involve small amounts of money, making it even more important to spend as little time and money on cash handling as possible.

Make a phone call to the cash-handling experts.

From the cash automation experts at Bankers Equipment, learn how your business can benefit from cash automation technology. We've been assisting businesses for over a century, and we can help you find the right cash handling and storage solutions for your company. For friendly, knowledgeable service, call us at 952.890.6661 • 888.890.6661, or stop by our showroom. 

Cash Management consists of cash incoming and outgoing from the different mediums in the company,i.e., from the company's operations, investment, and finance departments. Cash management is an important aspect of a company's financial stability. It consists of paying taxes, settling accounts, fulfilling obligations, staff salaries, rent, etc. Unfortunately, many businesses engage in poor cash management due to poor understanding of the cash flow cycle, lack of understanding of profit versus cash, bad capital investments and lack of cash management skills. 

The most important cash management equipment is a savings account, currency discriminator, mutual funds, money market deposit accounts, cash recycler, and savings bonds. Amongst these, the prominent one's are cash recyclers and currency discriminators. 

Cash Recycler 

• It is a compound appliance that handles a few easy but major tasks like accepting and dispensing cash. It also stores money safely, keeps an errorless accounting of cash, and mechanizes the cash cycle. Usually, they are found in banks, credit unions, and back-office retail cash rooms. 

• Cash recyclers are a comprehensive approach to cash management. 

• It reduces labor thus is also cost-effective; it improves both staff and companies' productivity.  

Currency Discriminator 

• It is designed to help industries and organizations in managing cash.

• It helps in preparing bank deposits, and it counts banknotes quickly and accurately. 

• If we insert a pile full of notes and currency of different denominations, it states the difference between them and counts the number of denominations. 

• It also helps in keeping an audit trail. 

These are the most effective and important ways in modern times for cash management. They help ensure that there is adequate cash to meet the current obligations while ensuring there are no idle funds. This is especially important as businesses depend on the recovery of receivables. If used properly the make sure that the cash flow is not jeopardized. They ensure the optimum utilization of cash to ensure maximum liquidity and profitability and participate in making the proper collection, disbursement, and cash investment flawless.