Bank Teller Job Description, Career as a Bank Teller, Salary, Employment - Definition and Nature of the Work, Education and Training Requirements, Getting the Job

tellers banks checks money

Education and Training: High school

Salary: Median—$21,120 per year

Employment Outlook: Fair

Definition and Nature of the Work

Bank tellers receive and process money when customers make deposits. They also distribute money when customers write checks on their accounts or withdraw savings. Tellers perform many other services as well. They cash payroll checks, exchange foreign currency, receive loan payments, and issue traveler's checks. Tellers work in large city banks as well as small branch banks in suburbs, towns, and rural areas. Some tellers work for other financial institutions such as savings and loan associations.

Tellers are also responsible for recording the transactions they perform. For instance, each deposit is recorded on a deposit slip that is filled in by the customer. The teller validates, or checks, the deposit slip and stamps it by machine to show that it was checked and accepted at that date and time. Some tellers work with machines that automatically enter deposits and withdrawals into the bank's ledger or records. Tellers also validate checks before cashing them. Tellers must be able to identify the customers for whom they cash checks by asking for a personal identification number, checking for photo identification, or comparing the customer's signature to the one the bank has on file. In addition, tellers often check the computer at their station to see whether customers have enough money in their accounts to cover the personal checks they want to cash.

Tellers start the day with a certain amount of cash in their cash drawer. They are responsible for this money and for all the checks, deposits, loan payments, and other monies they receive during the day. As they work, tellers keep track of all the transactions that they perform. After banking hours the tellers settle their accounts by filling out a settlement sheet. The settlement sheet reflects the day's activities. It helps the tellers check their own work to see that their transactions have been done accurately. Tellers calculate the amounts on the deposit slips to find the total amount of money received for the day. They add up the amounts on all the checks to find the total amount of money paid out. After accounting for all of the transactions and entering them onto the settlement sheet, the teller knows how much cash should be in the cash drawer. The teller counts the cash to see whether the dollar total is the same as that on the settlement sheet. If the totals match, the teller has finished work for the day. If the totals do not match, the teller must look for the mistake. Tellers are required to settle before leaving the bank.

Some tellers perform specialized tasks. In large banks one teller may take only savings account deposits and another may cash payroll checks. Sometimes experienced tellers are given specialized jobs that are more complex. Vault tellers, for instance, keep records of the cash and checks that come in and out of the bank's vault over the course of a day. All tellers must be able to work with details. It is important for tellers to be able to perform routine tasks quickly and accurately.

Bank tellers deposit checks and withdraw money for customers. Eventually they can specialize in more complex transactions such as taking real estate loan payments. (© William Taufic/Corbis.)

Education and Training Requirements

Banks usually hire high school graduates. They prefer those who have had some clerical experience. Students can prepare in high school for a job as a teller by taking business math or courses in which they learn to use computers and other business machines. Many banks offer a few classroom training sessions to new tellers. These sessions are followed by on-the-job training, during which a trainee observes an experienced teller. The trainee gradually learns the bank's methods and record-keeping techniques as well as how to operate any machines used by the bank.

Bank tellers are responsible for large sums of money. Therefore banks bond, or insure, their tellers against possible losses of money through error or theft. The bonding company asks for references from the teller and may investigate the teller's background before selling the insurance to the bank.

Getting the Job

Many tellers are promoted to their jobs from beginning clerical jobs. However, some people start as tellers without any previous bank experience. Prospective tellers can contact banks directly or through state and private employment agencies. They can also check Internet job sites and classified ads of local newspapers for advertised openings.

Advancement Possibilities and Employment Outlook

In large banks beginners usually specialize in doing one simple type of transaction, such as taking checking account deposits. Eventually they learn to handle other transactions. Then tellers can specialize in more complex transactions, such as taking real estate loan payments. Some tellers become head tellers who supervise the work of the other tellers in their branches. They also direct the training of new tellers. Some tellers become assistant managers in a branch office of their bank. These tellers usually take college courses in banking or courses offered by the banking industry.

According to the U.S. Bureau of Labor Statistics, tellers held about 558,000 jobs in 2004. Roughly one-third of these were part-time employees. Employment of tellers was expected to grow more slowly than the average for all occupations through the year 2014 because of the increased use of automatic teller machines and automated systems that allow customers to do their banking over the Internet and the phone. However, there will be new positions for full- and part-time tellers because banking provides a relatively large number of job openings.

Working Conditions

Banks are usually pleasant places to work. Full-time tellers work between thirty-five and forty hours a week. Overtime may be required once per week or more. As banks expand their service hours, tellers may find it necessary to work shifts that include evenings and Saturdays. Tellers spend a lot of time on their feet, and their work is repetitive. Because they deal with the public, tellers must be quick, courteous, and efficient when people are waiting to be served.

Earnings and Benefits

The median yearly salary for an experienced, full-time teller was $21,120 in 2004, according to the Bureau of Labor Statistics. Some banks offer incentives whereby tellers earn extra money for inducing customers to use special financial services that the bank offers.

Where to Go for More Information

American Bankers Association
1120 Connecticut Ave. NW
Washington, DC 20036
(800) BANKERS
http://www.aba.com

National Bankers Association
1513 P St. NW
Washington, DC 20005
(202) 588-5432
http://www.nationalbankers.org

Bank Administration Institute
1 N. Franklin St., Ste. 1000
Chicago, IL 60606
(312) 683-2464
http://www.bai.org

Banks usually offer generous benefits to their employees. Besides paid vacations and up to twelve paid holidays per year, employees may participate in pension and profit sharing plans. Employees usually receive health, life, and accident insurance. Some banks help pay tuition for employees who are continuing their education.

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User Comments

about 4 years ago

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over 3 years ago

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over 4 years ago

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7 months ago

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almost 4 years ago

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12 months ago

Dear All,

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over 1 year ago

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almost 4 years ago

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12 months ago

gina

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over 3 years ago

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about 4 years ago

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almost 5 years ago

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5 months ago

Mr.Khamdaeng

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about 4 years ago

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12 months ago

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29 days ago

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3 months ago

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5 months ago

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almost 2 years ago

michael ellis

it doesn't matter what subjects you take if you want to become a teller. i have a ba in management and was overqualified without taking any special classes. it might be different with an associates. for higher positions in a bank there's a possibility that an accounting degree would help, but there's no substitute for experience (which is true for most jobs). if you're willing to do it, i would highly recommend 2-3 internships before you graduate in the specific field you want to work in.

29 days ago

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about 1 month ago

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2 months ago

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4 months ago

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4 months ago

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5 months ago

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5 months ago

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7 months ago

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8 months ago

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9 months ago

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12 months ago

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12 months ago

bale

thnx 4 the information.Now i will focus more on my studies especially maths n accounting inoder to be a clerk!!..........Thank You!

12 months ago

I would like to know if when they do the background check,Do you get fingerprinted?

about 1 year ago

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over 1 year ago

O'Mario

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over 1 year ago

maria

AM CURRENTLY WORKING AS A BANK TELLER IN MALAWI AND AM LOOKING FOR A JOB OVERSEAS

over 2 years ago

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about 3 years ago

i have the same question as the last. what would be some good classes for me to take in college? & do many colleges have these classes available for me to take?

about 3 years ago

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over 3 years ago

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~Choose a job you love, and you will never have to work a day in your life.~

over 3 years ago

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almost 4 years ago

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almost 5 years ago

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5 months ago

Mr.Khamdaeng

Thanks for advises and i think this information is so useful for me and i will have an interview as a bank teller tomorrow....

i wish to have a good luck!!!!!!!

about 4 years ago

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3 months ago

haydie

hi.I came from the phillipines and i finished a degree of bachelor of Science in office Administration major in Management.I have work experience in Taiwan which was not related to my course as factory worker then when i finished my contract in Taiwan,I worked in the phillipines as sales representative then i resigned because i franchised a business then i also have work experience in sales..I am interested to work as a bank teller since this job fits for me..Do you think i do have a chance to have this kind of job?Hope i can receive an e-mail for my quetion.Thanks.

4 months ago

Wilson

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but not the lastest version of salary.

9 months ago

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over 3 years ago

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about 4 years ago

It was very nice and easy to understand abt the tellers profle..thanks.

5 months ago

kedibone letticia lentsoe

hey would like to get a job as a bank teller in South Africa (Gauteng) johannesburg

over 1 year ago

thanks for the info. now i wont be as nervous for my first day. :)

over 3 years ago

THANKS THIS WAS GREAT INFORMATION HELPED ME ALOT WITH UPDATING MY RESUME.

over 3 years ago

Awesome:) Thanks for the great insight as to how a teller does his/her job. :)

7 months ago

Tania Rios

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almost 4 years ago

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over 3 years ago

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9 months ago

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over 3 years ago

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almost 4 years ago

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thanks

about 4 years ago

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29 days ago

You know i want to get you a new job inside this greta place i am the manager of a great bank in ohio

about 1 month ago

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4 months ago

Wilson

Thank you very much for the information. that's useful.

but not the lastest version of salary.

4 months ago

Hi,

can any one tell me what are components of the dash biard of roles in a bank. any templates would be great.

5 months ago

very good article for job seekers.and also i would like to mention that this is very useful for all

5 months ago

Houses and cars are quite expensive and not everybody can buy it. However, credit loans are created to support people in such kind of cases.

5 months ago

kedibone letticia lentsoe

hey would like to get a job as a bank teller in South Africa (Gauteng) johannesburg

5 months ago

kedibone letticia lentsoe

hey would like to get a job as a bank teller in South Africa (Gauteng) johannesburg

7 months ago

Teller

7 months ago

Houses and cars are expensive and not everyone can buy it. However, mortgage loans was created to aid people in such hard situations.

8 months ago

Great...this is very helpful to me tomorrow is my exam and interview in the bank...a big help and tips

23 days ago

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23 days ago

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