Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.
Employment of tellers is projected to experience little or no change, growing 1 percent from 2010 to 2020. However, job prospects are expected to be excellent because many workers leave this occupation.
Tellers verify a customer’s identity and financial information before processing a transaction.
Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.
Duties
Tellers typically do the following:
Count the cash in their drawer at the start of their shift
Accept checks, cash, and other forms of payment from customers
Answers questions from customers about their accounts
Prepare specialized types of funds, such as traveler’s checks, savings bonds, and money orders
Exchange dollars for foreign currency
Order bank cards and checks for customers
Record all transactions electronically throughout their shift
Count the cash in their drawer at the end of their shift and make sure the amounts balance
Tellers are responsible for the safe and accurate handling of the money they process. When cashing a check, they must verify the customer’s identity and make sure that the account has enough money to cover the transaction. When counting cash, a teller must be careful not to make errors.
Tellers also seek out customers who might want to buy more financial products or services from the bank, such as certificates of deposits (CDs) and loans. When they think a customer is interested, tellers explain the products and services the bank offers and refer the customer to the appropriate sales personnel.
In most banks, tellers record account changes by using computer terminals that give them easy access to the customer’s financial information. Tellers also can use this information when recommending a new product or service.
Head tellers manage teller operations. They do the same tasks as other tellers as well as some managerial tasks, such as setting work schedules or helping less experienced tellers. Because of their experience, head tellers may deal with difficult customer problems, such as a customer questioning an error with an account. Head tellers also go to the vault (where larger amounts of money are kept) and ensure that the rest of the tellers have enough cash to cover their shift.
Most tellers work in bank branches. They sit at a computer station and interact with customers from behind a glass partition. Some banks are experimenting with new formats that allow the teller to more closely interact with a customer by changing the place of the teller station or removing the glass barrier.
Work Schedules
Most tellers work full time, Monday-through-Friday work schedules. Some tellers work on Saturdays. About 27 percent work part time, which is more than the average for other administrative and support occupations.
Most tellers have a high school diploma and get about 1 month of on-the-job training. Some banks do background checks before hiring a new teller.
Education
Tellers usually must have a high school diploma or equivalent. A few tellers have some college experience, but a degree is rarely needed for a job applicant to be hired.
Training
Tellers usually have a brief period of on-the-job training, typically lasting about 1 month. Normally, a head teller or another experienced teller trains them. A new teller may also need to learn the computer software that their bank uses and the financial products and services the bank offers.
Advancement
Experienced tellers can advance within their bank. They can become a head teller or move into another supervisory position. Some tellers can advance to other occupations, such as loan officer. They can also move to sales positions. For more information, see the profile on loan officers.
Important Qualities
Basic math skills. Because they count and handle large amounts of money, tellers must be good at arithmetic.
Customer-service skills. Tellers spend their day interacting with bank customers. They must be friendly, helpful, and patient. They must be able to understand what customers are looking for and explain the customers’ options.
Detail oriented. Tellers must be sure not to make errors when dealing with customers’ money.
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics
The median annual wage of tellers was $24,100 in May 2010. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $18,730, and the top 10 percent earned more than $32,650.
Most tellers work full time, Monday-through-Friday work schedules. Some tellers work on Saturdays. About 27 percent work part time, which is more than the average for other administrative and support occupations.
Note: All Occupations includes all occupations in the U.S. Economy. Source: U.S. Bureau of Labor Statistics, Employment Projections program
Employment of tellers is projected to experience little or no change, growing 1 percent from 2010 to 2020.
Past job growth for tellers was driven by a rapid expansion of bank branches, where most tellers work. However, the growth of bank branches is expected to slow because of both changes to the industry and the fact that certain areas now have an abundance of banks.
Additionally, online and mobile banking allows customers to handle many of the same transactions as tellers do. As more people use online banking, fewer bank customers will visit the teller window. This will result in decreased demand for tellers.
Job Prospects
Job prospects for tellers should be excellent because many workers leave this occupation.
Employment projections data for tellers, 2010-20
Occupational Title
SOC Code
Employment, 2010
Projected Employment, 2020
Change, 2010-20
Employment by Industry
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SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program
Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.
Customer service representatives interact with customers on behalf of an organization. They provide information about products and services and respond to customer complaints. Some also take orders and process returns.
Information clerks provide administrative and clerical support in a variety of settings. They help maintain records, collect data and information, and respond to customers’ questions or concerns.
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2010 Median Pay
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On-the-job Training
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Entry-level Education
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Number of Jobs, 2010
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Job Outlook, 2010-20
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Employment Change, 2010-20
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2010 Median Pay
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Entry-level Education
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