Cash counting machines count cash, as the name implies, but they also do a lot more. They check for counterfeits, act a a secure vault, reduce time and improve accuracy in cash counting. They can help business owners, controllers and accountants to deal with cash management problems like currency losses, security and even labour costs.
For business owners, controllers, accountants, CFOs, and COOs looking for help with asset protection, loss prevention, security and any other cash management problems, cash counting machines offer many solutions.
What are currency counter machines?
Electric cash counters were first used in Great Britain in 1980. They can process large amounts of money, counting notes and coins in batches rather than individually. Money counter machines can handle stacked banknotes or loose change.
Cash counters can complete their task much faster and much more accurately than humans counting notes and coins by hand. They use high speed scanners which can help with other cash management problems as well. For example, they can detect and separate counterfeit currency.
Detecting counterfeit currency
Counterfeit currency is an old problem. Especially in the nineteenth century, when banks issued their own currency, it was a serious problem. In fact, in the U.S., the Secret Service was founded in 1865 with the express purpose of minimizing the problem of counterfeit currency.
Currency counting machines use high speed scanners to count stacks of notes or loose change. The scanners can also detect and separate counterfeit currency, helping businesses solve one of their major cash management problems.
Further, cash recyclers double as a secure vault. They can be used to store money and to restrict access only to authorized users. In an emergency, a silent alarm can lock the unit.
Reducing labor time and costs
Currency counters also save businesses time and labor in counting their day intake of cash. Counting notes by hand is a slow and cumbersome process that must be repeated to ensure accuracy. Even so, cash counter machines are much more accurate.
They’re also much quicker and businesses find that by using a cash counter machine, they are able to free up staff for other duties. Cash counters also Improve the overall security of the process and eliminate the possibility of currency losses and internal thefts.
Many cash management solutions companies will also offer back up services like phone support, repairs and spare parts, etc. Currency counter machines can help businesses handle a wide range of cash management problems.