Automated cash handling refers to the process of dispensing, counting, and tracking cash within various business environments using software and hardware devices such as banknote processing. Automated cash handling is used by banks, retail stores, check-cashing outlets, payday loan/advance providers, casinos, and more. This process is facilitated through the use of specially designed hardware and software, with the primary goals of preventing loss, deterring theft, and reducing the need for constant manual oversight of cash operations.[1]
The hardware used for automated cash handling typically includes one or more of the following:
- Automatic teller machines (ATMs) [2]
- Currency-counting machines for notes and coins
- Currency detectors, also known as currency validator or acceptor, to check notes and coins
- Coin wrapper or rolled coin dispenser
- Banknote destruction devices
- Intelligent banknote neutralization systems
In an automated cash handling environment, a cashier or teller begins their shift by accessing a cash drawer through the automated cash handling equipment, dispensing the required cash as needed.[3] At the end of their shift, the cashier or teller deposits the remaining cash into the automated cash handling equipment, which then counts the cash and securely stores it in a safe. To ensure proper control, a manager sets specific permissions for each teller or cashier, governing their ability to dispense and count cash.
Some advanced automated cash handling systems offer networking capabilities and remote operation, allowing for dispensing, counting, and reporting to be conducted from a central location. This remote operation not only enhances efficiency but also results in cost savings, as all cash-related activities are consolidated and monitored remotely.