17:
148:
Prison
Transactions: In the corrections system, automated cash handling systems facilitate electronic transfers of funds from inmates' relatives to prisoners. This streamlined process is significantly faster and more efficient compared to traditional manual transfers. Moreover, it acts as a deterrent
156:
Gas
Stations: In regions where self-service at gas stations is prohibited, automated cash handling systems have played a crucial role as crime deterrents and cost-effective solutions. With these systems in place, gas attendants no longer face the risk of robbery. The entire transaction process is
152:
Retail
Revolution: In 1987, automated cash handling systems gained popularity among retailers nationwide. The effectiveness and speedy checkouts they provided encouraged customers to use debit/credit cards, making them an attractive option for businesses. As a result, many establishments adopted
88:
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. At the end of their shift, the cashier or teller deposits the remaining cash into the automated cash
169:
The rise of automated cash systems in the 1980s has significantly transformed the way society operates, particularly within the banking sector. Banks have adapted their operations to harness the capabilities of these advanced systems, leading to notable changes in the roles of bankers and the
92:
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
143:
Automated cash handling systems play diverse and vital roles in everyday economic activities. Beyond their primary function of dispensing money and processing checks, these systems have expanded into various sectors, bringing efficiency and security to a range of processes.
133:
Job
Displacement: Advanced automated cash handling systems, which require minimal human interaction, can lead to the displacement of certain jobs. This can have an impact on employment opportunities in roles that were previously centered around manual cash handling
174:
Shift in Banker Roles: Traditional bankers who primarily handled physical money have witnessed a significant shift in their roles. They are now increasingly engaged in sales and advisory positions rather than performing the traditional tasks of cash
178:
Automated Money
Management: Automated cash systems have revolutionized the money-handling process within banks. These systems are adept at counting and dispensing money accurately, reducing the need for manual counting and verification by
45:, 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.
89:
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.
130:
Regular System
Maintenance: Automated systems require ongoing maintenance to ensure their operating systems run smoothly. This maintenance can involve software updates, hardware upkeep, and troubleshooting.
183:
This transformation within the banking industry underscores the evolution of banking practices and the integration of technology to enhance efficiency and customer service.
161:
Automated cash handling systems have evolved to become integral components of various industries, offering efficiency, security, and convenience in economic operations.
117:
Cost-Efficiency: Automated cash handling is often a cost-effective alternative to hiring additional employees, making it a cost-efficient solution for businesses.
29:
refers to the process of dispensing, counting, and tracking cash within various business environments using software and hardware devices such as
105:
Reduced Manual Labor: Automation minimizes the need for manual cash handling tasks, leading to increased efficiency and reduced labor costs.
257:
Steinberg, Don. Retailers replacing cash with ATM cards to lure customers: no cash down, PC Week 1 Dec. 1987, Business
Insights: Essentials
157:
computerized, ensuring faster transactions. Additionally, these systems allow petroleum companies to reduce costs and enhance security.
108:
Faster
Customer Service: Automated systems expedite transactions, resulting in quicker and more efficient customer service experiences.
82:
111:
Enhanced Safety: With fewer person-to-person interactions, automated cash handling contributes to safer and more secure transactions.
114:
Consistent
Reliability: Automated systems are designed for precision and accuracy, ensuring consistent and reliable cash management.
126:
While automated cash handling offers numerous advantages, it also comes with a few disadvantages, including:
58:
300:
192:
52:
20:
217:
48:
The hardware used for automated cash handling typically includes one or more of the following:
8:
30:
197:
212:
64:
207:
284:
American Banker, Tellers' role changing from counting cash to sales 1996, pg. 5
76:
294:
16:
101:
Automated cash handling offers a range of significant benefits, including:
70:
38:
67:, also known as currency validator or acceptor, to check notes and coins
202:
239:
Ed
Grondahl, Integrated Solutions For Retailers, April/May 2009
42:
34:
266:
The smart card cashes in. The Economist 29 Jan. 1994
93:
activities are consolidated and monitored remotely.
292:
153:these systems to enhance customer satisfaction.
275:Pueblo Chieftain (Pueblo, CO), August 22, 2008
83:Intelligent banknote neutralization systems
235:
233:
164:
37:, retail stores, check-cashing outlets,
15:
230:
293:
149:against fraud and theft among inmates.
248:ATMS. Lodging Hospitality 15 May 2009
33:. Automated cash handling is used by
13:
138:
14:
312:
121:
278:
269:
260:
251:
242:
21:Automatic teller machine (ATM)
1:
223:
7:
186:
96:
10:
317:
59:Currency-counting machines
53:Automatic teller machines
193:Automated teller machine
73:or rolled coin dispenser
27:Automated cash handling
218:Manual fare collection
165:Effect on banking jobs
23:
19:
77:Banknote destruction
41:/advance providers,
170:handling of money.
61:for notes and coins
31:banknote processing
198:Teller Assist Unit
65:Currency detectors
24:
213:Currency detector
308:
285:
282:
276:
273:
267:
264:
258:
255:
249:
246:
240:
237:
208:Banknote counter
316:
315:
311:
310:
309:
307:
306:
305:
301:Payment systems
291:
290:
289:
288:
283:
279:
274:
270:
265:
261:
256:
252:
247:
243:
238:
231:
226:
189:
167:
141:
139:Role in economy
124:
99:
12:
11:
5:
314:
304:
303:
287:
286:
277:
268:
259:
250:
241:
228:
227:
225:
222:
221:
220:
215:
210:
205:
200:
195:
188:
185:
181:
180:
176:
166:
163:
159:
158:
154:
150:
140:
137:
136:
135:
131:
123:
120:
119:
118:
115:
112:
109:
106:
98:
95:
86:
85:
80:
74:
68:
62:
56:
9:
6:
4:
3:
2:
313:
302:
299:
298:
296:
281:
272:
263:
254:
245:
236:
234:
229:
219:
216:
214:
211:
209:
206:
204:
201:
199:
196:
194:
191:
190:
184:
177:
173:
172:
171:
162:
155:
151:
147:
146:
145:
132:
129:
128:
127:
122:Disadvantages
116:
113:
110:
107:
104:
103:
102:
94:
90:
84:
81:
78:
75:
72:
69:
66:
63:
60:
57:
54:
51:
50:
49:
46:
44:
40:
36:
32:
28:
22:
18:
280:
271:
262:
253:
244:
182:
168:
160:
142:
125:
100:
91:
87:
71:Coin wrapper
47:
26:
25:
39:payday loan
224:References
175:handling.
295:Category
203:Banknote
187:See also
179:bankers.
97:Benefits
79:devices
55:(ATMs)
43:casinos
134:tasks.
35:banks
297::
232:^
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
