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Bank Teller Career

Career Description

The bank teller is the worker most people associate with their bank. Among the responsibilities of tellers are cashing checks, accepting deposits and loan payments, and processing withdrawals. Tellers make up approximately one-fourth of bank employees and conduct most of a bank’s routine transactions.

Common Work Tasks

  • Receive and count an amount of working cash for their drawers
  • Disburse cash during the day and are responsible for its safe and accurate handling
  • Count cash on hand, list the currency received on a balance sheet making sure that the accounts balance, and sort checks and deposit slips
  • Sell savings bonds, accept payment for customers’ utility bills and charge cards, process necessary paperwork for certificates of deposit, and sell travelers’ checks
  • Corroborate deposits and payments to automated teller machines (ATMs)
  • Verify the date, the name of the bank, the identity of the person who is to receive payment, and the legality of checks
  • Use computer terminals to record deposits and withdrawals
  • Carefully count cash to avoid errors
  • Prepare and verify cashier’s checks
  • Check accuracy of deposit slips

Other Job Titles

Bank Tellers are also known by other titles, including:

  • Bill and Account Collector
  • Billing and Posting Clerk
  • Bookkeeper
  • Accounting Clerk
  • Brokerage Clerk
  • Credit Authorizer

Education,  Training, and Experience

Education and Training
  Most tellers are required to have at least a high school diploma, but some have completed some college training or even a bachelor’s degree in business, accounting, or liberal arts. Although a college degree is rarely required, graduates sometimes accept teller positions to get started in banking or in a particular company with the hope of eventually being promoted to managerial or other positions.

Once hired, tellers usually receive on-the-job training. Under the guidance of a supervisor or other senior worker, new employees learn company procedures. Some formal classroom training also may be necessary, such as training in specific computer software.

Experience
  Experience working in an office environment or in customer service, and particularly in cash-handling can be important for tellers. Regardless of experience, employers prefer workers who have good communication and customer service skills.  Knowledge of word processing and spreadsheet software is also valuable.

Salary

The median annual salary of a Bank Teller is $23,000. The top 10 percent earn more than $31,000, and the lowest 10 percent earn less than $18,000.  Median earnings in the industries employing the largest number of bank tellers are:

  • Depository Credit Intermediation - $23,550
  • Activities Related to Credit Intermediation - $23,510
  • Nondepository Credit Intermediation - $23,640
  • Management of Companies and Enterprises - $24,180
  • Securities and Commodity Contracts Intermediation and Brokerage - $25,960

Job Outlook

  • 2006-2016 Employment growth:  13%
  • Number of new jobs created 2006-2016: 82,000
  • Employment 2006 : 608,000
  • Employment 2016:  689,000
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