Money counting machines have become an essential tool for most Banks, Credit Unions, Retail, Casinos, and countless other businesses. In today's super competitive business markets you need to streamline your business and become as efficient as possible.
Money Counters provide us with a variety of solutions, all aimed at improving, accuracy, efficiency, and productivity. Keep in mind that it takes a teller on average 15 minutes to count out a drawer and you have to also factor in human error.
Now, if you've shopped around at all for a currency counting machine, you have undoubtedly been overwhelmed with the many different brands, models, features and options available. In order to sort all this out, you need to begin by asking yourself some questions to determine what's important and relevant for you:
Do you need counterfeit detection and if so, how much?
Do you need a Money Counter to just count bills or do you need it to add and batch too?
Do you need a Money Counter that can recognize mixed denomination value?
There are several other questions to answer, so let's take a look at all the different features and help you to better understand all the many factors involved in selecting the right Money Counting machine for you!
Counterfeit Detection is something that all businesses that accept cash should be concerned with. The Treasury Department estimates that $70 million counterfeit bills are in circulation. You could receive counterfeit money directly from a counterfeiter or from someone who unknowingly received the bills from someone else.
If you accept cash, counterfeiting should be an issue of concern for you. Fortunately, even lower end priced currency counters have levels of fraud protection. The minimum basic level of protection is UV.
The main counterfeit detection levels are UV, MG, IR, MT, MR, Size & Thickness Detection. For an in-depth discussion of all these counterfeit detection levels, what they mean and how they work, check out this blog post.
Batch, Add & Value Count
The ADD function allows you to count the number of bills in the hopper and accumulate the total number to the previous count. The Batch function allows you to predetermine how many bills to count before it automatically stops. The Value Count function allows the counting to stop when a specified dollar amount is reached.
Mixed Value Recognition
AKA - a discriminator. Mixed denomination value detection is arguably one of the most important considerations when thinking about buying a money counter machine. Standard money counters require that you presort your bills and classify them by 1s, 5s, 10s, 20s, etc. However, a mixed bill value counter will automatically detect the denomination of the bill, distinguish it, and add it to the total count accordingly.
For example....if you want to count a mix of 5 x $5, 10 x $10, 20 x $20, the quantity counted will be 35 as the number of bills passed through the machine. The value count will be $525.
Hopper Position & Size
The hopper is where you place the bills in the machine to start counting. There are two basic types of hoppers, back-loading and front-loading. Back-loaders are ideal for smaller volume jobs. As the name suggests, it's located on the back side of the machine. They have restrictions as it holds a smaller amount of bills and you can't add more bills while the machine is counting. The front-loader version gives you more options. The hopper size is bigger allowing you to put a bigger stack of bills in at a time and you can add more bills in while the machine has begun to count. Typically, the hopper size runs from 200 to 1,000 bills, depending on the model.
The counting speed of money counters is normally calculated as bills per minute. Counting speeds can vary and although faster machines are typically more expensive, they are almost a necessity for any business dealing in large amounts of cash. One of the primary reasons a company needs a money counting machine is to quickly count their cash, saving the company both time and resources by not having an individual do the same task. If you’re in a business that deals with large volumes of cash and short on time, you should look for machines with faster counting speeds.
Count speeds are adjustable and can range from 800 to 1,900 bills per minute. Lower speeds would be for older bills in poor condition, while new crisp bills can be counted at maximum speeds.
A business that deals with international clients or currency from around the world need to get a bill counting machine that can accurately take into consideration and organize different types of currencies.
Multi-Currency/Mixed denomination value counters can detect the difference between certain types of currencies automatically. But even if your currency counter can’t automatically detect the country of origin for that bill, some bill counters come with a value count feature that allows you to preset the values so you’re able to classify between varying forms of currencies.
Serial Number Recognition
Thanks to its integrated CIS sensor, some machines are able to read the serial number on each bill, depending however on in which orientation the bills are inserted. Serial number recording is useful for tracing and when you need an audit trail. Our Safescan 2885-S and Carnation CR1500 are both equipped to read and record serial numbers. Both have optional printers to print out the results.
Currency counting machines can have one or two pockets. With a single pocket, the counting will stop when an unrecognized or suspect bill has been detected and requires you to pull it out before counting can resume. With a two-pocket model when an unrecognized or suspect bill is detected it will automatically move it to the second pocket without stopping the count and the machine keeps counting.
When buying a bill counting machine, it’s best to do your research ahead of time to ensure you are buying the machine that best suits your business needs. The least expensive machine is not always the best and can need replacing long before a mid-range counter, so do your research and ask an expert if you have any questions. At Currency Counting Solutions we are your one stop to selecting the right cash counting machine for you!