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Bank Teller Salary Range
The salary range of a bank teller varies as per the location and type of employer. This article provides you an insight into the average pay and duties in this profession.
A teller is a professional who is employed to carry out day-to-day transactions in the bank. He is expected to work very carefully, as he deals with confidential and money matters. Generally, his work demands accuracy and logical reasoning. So, if you are thinking of becoming one, you primarily need to be good in math, know how the banking sector works, and be quick in taking appropriate decisions or actions. He is not only employed in banks, but also in financial firms, credit institutions, and other facilities that deal mostly in fiscal matters.
The average salary may seem a bit low at first, but the flip side is that you receive several other benefits such as paid vacations and holidays, insurance, pension schemes, and overtime pay.
The earning potential is also dependent on how big the facility of employment is. The pay would be a little higher than normal if the employer is a reputed bank. The state and city of work also has an impact on the pay. If you are employed in Chicago or Atlanta, you would receive a higher pay as compared to someone working in Cincinnati or Orlando. The average salary ranges between USD 25,000 to USD 30,000 per annum. The starting salary of inexperienced professionals is approximately USD 20,000 per year. They are paid hourly when they work part-time or do overtime. The hourly pay can range between USD 10 to USD 16.
Duties and Responsibilities
The main responsibility of a teller is to handle everyday working procedures in a bank. This mainly relates to receiving and providing cash from/to customers. He has to guide them if they have any queries. This includes assisting them in opening new accounts and other formalities, and accepting all types of payments from them. He also has to impart information regarding any new products and services that the bank is about to introduce or has introduced recently. While dealing in all these transactions, he even needs to maintain good relations with all his current customers. He has to adhere to operational controls, including legal, corporate, and regulatory procedures to ensure the safety and security of customer and bank assets.
While handling the window, he has to receive commercial deposits from customers in the form of checks or cash. He necessarily has to verify it, and then only hand over the deposit or payment receipts. If checks, payment slips, or deposit slips are not appropriately filled, he needs to guide the customers in filling them correctly. He is supposed to check the person’s account details and confirm his identity, in case of a doubt about a fake transaction or a fraud. Moreover, he should be very vigilant for any other fraudulent activity. He is required to maintain an elaborate account of the cash, checks, and coins at the end of the day. There can be other specialized duties and obligations that may be assigned to him by his employer.