Bank teller: Difference between revisions
Ravensfire (talk | contribs) Reverting edit(s) by Khantaaimo12 (talk) to rev. 1180278573 by Cyali: rv spam (UV 0.1.5) |
→Prevalence and history: update, events have come to pass and new information is available |
||
| Line 25: | Line 25: | ||
In the United States, tellers held approximately 608,000 jobs in 2006. Of these, approximately 25% were classified as part-time. Median annual earnings as of May 2006 were $22,140.<ref>{{cite web|title=Tellers |work=Occupational Outlook Handbook |publisher=U.S. Bureau of Labor Statistics |date=May 2006 |url=http://www.bls.gov/oco/ocos126.htm |access-date=2008-01-31 |url-status=dead |archive-url=https://web.archive.org/web/20080516200541/http://www.bls.gov/oco/ocos126.htm |archive-date=2008-05-16 }}</ref> |
In the United States, tellers held approximately 608,000 jobs in 2006. Of these, approximately 25% were classified as part-time. Median annual earnings as of May 2006 were $22,140.<ref>{{cite web|title=Tellers |work=Occupational Outlook Handbook |publisher=U.S. Bureau of Labor Statistics |date=May 2006 |url=http://www.bls.gov/oco/ocos126.htm |access-date=2008-01-31 |url-status=dead |archive-url=https://web.archive.org/web/20080516200541/http://www.bls.gov/oco/ocos126.htm |archive-date=2008-05-16 }}</ref> |
||
The number of tellers in the United States increased from approximately 300,000 in 1970 to approximately 600,000 in 2010. A contributing factor may have been the introduction of [[automated teller machine]]s |
The number of tellers in the United States increased from approximately 300,000 in 1970 to approximately 600,000 in 2010. A contributing factor in the period of increase may have been the introduction of [[automated teller machine]]s due to the impact of [[induced demand]]: ATMs allow a branch to operate with fewer tellers, making it more economical for banks to open more branches, necessitating more tellers to staff those additional branches. In the later 2010s and the 2020s, automation and [[online banking]] (as anticipated<ref>{{cite news |url=https://www.recode.net/2017/5/8/15584268/eric-schmidt-alphabet-automation-atm-bank-teller |title=Eric Schmidt said ATMs led to more jobs for bank tellers. It’s not that simple. |date=May 8, 2017 |author=Tess Townsend |publisher=Recode |url-status=dead |archive-url=https://web.archive.org/web/20170511061213/https://www.recode.net/2017/5/8/15584268/eric-schmidt-alphabet-automation-atm-bank-teller |archive-date=2017-05-11 }}</ref>) reversed this trend, leading to only 364,100 in 2022<ref>{{cite web |title=Tellers : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics |work=Occupational Outlook Handbook |publisher=U.S. Bureau of Labor Statistics |url=https://www.bls.gov/ooh/office-and-administrative-support/tellers.htm |access-date=2024-04-10 |archive-url=https://web.archive.org/web/20240328151658/https://www.bls.gov/ooh/office-and-administrative-support/tellers.htm |archive-date=2024-03-28}}</ref>. |
||
==Public figures who were former bank tellers== |
==Public figures who were former bank tellers== |
||
Revision as of 08:09, 10 April 2024
 | The examples and perspective in this article may not represent a worldwide view of the subject. (October 2019) |
A bank teller (often abbreviated to simply teller) is an employee of a bank whose responsibilities include the handling of customer cash and negotiable instruments. In some places, this employee is known as a cashier or customer representative.[1] Tellers also deal with routine customer service at a branch.
Responsibilities and duties of the bank teller
Being front-line staff they are most likely to detect and stop fraudulent transactions in order to prevent losses at a bank (counterfeit currency and cheques, identity theft, confidence tricks, etc.). The position also requires tellers to be friendly and interact with the customers, providing them with information about customers' accounts and bank services. Tellers typically work from a station, usually located on a teller line. Most stations have a teller system, which includes cash drawers, receipt validator/printers, proof work sorters, and paperwork used for completing bank transactions. These transactions include:
- Check cashing, depositing, transfers, wire transfers
- Savings deposits, withdrawals
- Issuing negotiable items (cashier's checks, traveler's cheques, money orders, federal draft issuances, etc.)
- Payment collecting
- Promotion of the financial institution's products (loans, mortgages, etc.)
- Facilitating applications for retail credit products (short-term financing, credit cards, etc.)
- Business referrals (trust, insurance, lending, etc.)
- Cash advances
- Savings bond redemption
- Resolving customer issues
- Balancing the vault, cash drawers, ATMs, and TAUs
- Batching and Processing Proof Work (on-us/not-on-us checks, payment coupons, counter slips, etc.)
- May include ordering products for the customer (cheques, deposit slips, etc.)
Prevalence and history
In the United States, tellers held approximately 608,000 jobs in 2006. Of these, approximately 25% were classified as part-time. Median annual earnings as of May 2006 were $22,140.[2]
The number of tellers in the United States increased from approximately 300,000 in 1970 to approximately 600,000 in 2010. A contributing factor in the period of increase may have been the introduction of automated teller machines due to the impact of induced demand: ATMs allow a branch to operate with fewer tellers, making it more economical for banks to open more branches, necessitating more tellers to staff those additional branches. In the later 2010s and the 2020s, automation and online banking (as anticipated[3]) reversed this trend, leading to only 364,100 in 2022[4].
Public figures who were former bank tellers
Many well-known personalities have worked as bank tellers including:
See also
References
- ^ "Scotiabank Jobs".
- ^ "Tellers". Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. May 2006. Archived from the original on 2008-05-16. Retrieved 2008-01-31.
- ^ Tess Townsend (May 8, 2017). "Eric Schmidt said ATMs led to more jobs for bank tellers. It's not that simple". Recode. Archived from the original on 2017-05-11.
- ^ "Tellers : Occupational Outlook Handbook: : U.S. Bureau of Labor Statistics". Occupational Outlook Handbook. U.S. Bureau of Labor Statistics. Archived from the original on 2024-03-28. Retrieved 2024-04-10.
- ^ "10 of the Most Famous Financial Advisors". Investopedia.
- ^ "9 Boring Jobs Celebrities Had Before They Were Famous". www.jobs.net.
| Authority control databases: National |
|---|
