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Cash Handling 101

Cash Handling 101. Arizona State Savings & Credit Union Learning & Development. Cash handling....you’re the expert. Concentrate Consistent Organized Count three times Compare cash total to transaction receipt. Cash Control.

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Cash Handling 101

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  1. Cash Handling 101 Arizona State Savings & Credit Union Learning & Development

  2. Cash handling....you’re the expert • Concentrate • Consistent • Organized • Count three times • Compare cash total to transaction receipt

  3. Cash Control • Your responsibility to ensure proper cash control. Sole responsibility for the cash assigned to him or her. While operating a cash drawer take the following precautions: • Never leave cash unsecured or unattended • Cash is to be locked and out of reach/sight of members • Passwords, combinations and access code should be confidential • Verify the drawer in dual control before taking custody of the drawer • Do not allow access to your cash drawer • Count and list currency

  4. Cash Limits • Drawer limits may vary • Generally top drawer limit is $2500.00 • All excess cash should be kept in your teller vault or second drawer • Stay within drawer limits • Keep mute money to a minimum

  5. Hand to counter Remove cash from drawer Count desire quantity to counter, start with large bills Replace excess in drawer Place next desired denomination on top of pile When all desired bills are stacked on the pile, turn over and count to the counter Hand to hand Remove cash from drawer, one bill at a time, place in left hand Repeat process for all desired denominations When all desired bills are in your left hand count from left to right Methods of counting currency

  6. Cash Quiz • Who’s picture is on a dime?

  7. By denomination Count each bill by face value Add each new bill to the previous amount By units Leave off zeros Count by first digit only Add zeros at the end of the count By quantity Count desired denomination quantity only Multiply the total on paper or adding machine Repeat for all denominations Counting Methods

  8. Counting coin • Separate the coin by denomination • Spread the coin flat on the counter • Count two at a time – counter to hand • Count by quantity • Repeat for all denominations

  9. Cash Quiz • Who’s picture is on a nickel?

  10. Keep your drawer organized • Arrange paper currency in stacks • When opening a stack of bills, toss the strap after verification • Get rid of paper when opening rolls of coins • Make sure that your coins and paper currency are in the right area of the drawer • Make sure your dollar bills are neat, not bunched or bent • Never leave your teller drawer open when you are going to be away from it

  11. Cash Quiz • Who’s picture is on the $100 dollar bill? Benjamin Franklin

  12. Count cash three times • Count cash as you take it from your cash drawer • Count cash to yourself as you count it out on the counter or hand to hand • Count cash aloud as you count it to the member

  13. Redeeming Damaged Money • Redeemable at full face value • More than half of the original note can be exchanged • Less than half of the original note – must be sent to the Treasury for redemption • Redemption of mutilated coin is handled by the US Mint

  14. Foreign Currency • At this time we do not exchange foreign currency • Refer members to a commercial bank

  15. Cash Quiz • Who’s picture is on a five dollar bill?

  16. Detecting Counterfeit Currency

  17. If you receive a counterfeit… • Do not return it to the passer • Delay the passer if possible (if a stranger) • Note the passers description (if a stranger) • Telephone the police or Secret Service • Write your initials and date on an unprinted section of the note • Minimize handling the note; place it in an envelop • Issue the presenter a receipt for the counterfeit bill

  18. Fun Facts • Since October 1, 1877, all US currency has been printed by the Bureau of Engraving and Printing • The total number of fifty and one hundred dollar notes passed and seized in 1980 was 777,957 • By the end of the Civil War, between one-third and one-half of all US currency in circulation was counterfeit

  19. The largest currency denomination ever produced? $100,000 series 1934 Gold Certificate printed from Dec 18, 1934 to Jan 9, 1935 Do you know? • What denomination of currency notes is the Treasury Department no longer printing? • $500, $1,000, $5,000, and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments.

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