Tellers: Salary, career path, job outlook, education and more
- Education Required
- Tellers usually need a high school diploma or equivalent. Some tellers may take some college courses, but a degree is rarely required for a job applicant to be hired.
- Training Required
- New tellers usually receive brief on-the-job training, typically lasting about 1 month. Normally, a head teller or another experienced teller trains them. During this training, tellers learn how to balance cash drawers and verify signatures. They also learn the computer software that their bank uses and the financial products and services the bank offers.
- Job Outlook
-
The projected percent change in employment from 2016 to 2026: -8% (Decline)
(The average growth rate for all occupations is 7 percent.) - Advancement
- Experienced tellers can advance within their bank. They can become head tellers or move to other supervisory positions. Some tellers can advance to other occupations, such as loan officer. They can also move to sales positions.
- Median pay: How much do Tellers make?
- $27,260 Annual Salary
- $13.11 per hour
Tellers are responsible for accurately processing routine transactions at a bank. These transactions include cashing checks, depositing money, and collecting loan payments.
What do Tellers do?
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
- Answer questions from customers about their accounts
- Prepare specialized types of funds, such as travelers 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 customers identity and make sure that the account has enough money to cover the transaction. When counting cash, tellers must be careful not to make errors. If a customer is interested in financial products or services, such as certificates of deposits (CDs) and loans, tellers explain the products and services offered by the bank and refer the customer to the appropriate personnel.
In most banks, tellers record account changes using computers that give them easy access to the customers financial information. Tellers also can use this information when recommending a new product or service.
Careers for Tellers
- Bank tellers
- Commercial tellers
- Exchange tellers
- Foreign bank note tellers
- Foreign exchange clerks
- Head tellers
- Loan tellers
- Money order clerks
- Receiving tellers
- Savings tellers
- Securities tellers