Money counting is a business activity that requires diligence and vigilance, and this has always been a challenging task if done manually. With newer technologies, the advent of counting machines has made things much easier to save time and effort. While this was an excellent start for businesses, the influx of a lot of machines confused many people about choosing the right one that suited their needs.
For instance, there are many designs and types to consider, and if you are not careful, you will end up with the wrong machine. But what should you look for when selecting the right cash counting machine? Here are some basic parameters to check and compare before picking one.
Cash Counting Machine Basics
- Counter: The counter counts and shows the number of banknotes provided without value considerations. It also does not record the denomination of the notes and can count multiple currencies.
- Mixed Note Counter: This cash counting machine displays the number of notes it has counted and the values of each note. It counts the cash and gives the total value of the money, including mixed denominations.
- Sorter: A sorter is like a mixed note counter but has separate deposit trays to place different note denominations.
What to Look for in a Cash Counting Machine:
Counting Speed and Accuracy:
Your purpose for getting a cash counting machine is to save time and be productive. Therefore, checking the speed and accuracy of cash counting machines is crucial. A device that works faster and more accurately is the best choice for you. This relieves the pressure of handling huge bundles of cash and accuracy concerns. If you deal with a good amount of cash, go for the highest money counting speed to enjoy value for money.
Mixed Note Counting:
When blindly selecting a cash counting machine, you may resort to manual counting to manage multiple denominations. The best machine should feature a mixed note counting mechanism to sort cash in different denominations. These machines are built with colour imaging sensors and software to detect the denomination of notes. In addition, they have counterfeit detection and work better than standard cash counters.
The batching feature in a cash counting machine allows you to remove some amount of cash before it starts counting. This is a great feature, primarily if there is a specific number of notes you want to collect from a bundle. For example, if you want only 130 notes from a bundle of 330, the machine automatically stops at 130. You will pick the counted notes from there before continuing the counting process. This is an essential cash counting machine feature because it allows you to organize your cash in desired bundles.
Hopper Size and Type:
Depending on the volume and frequency of your daily business transactions, the hopper size is a top priority. The hopper is the slot on a money counter where notes for counting are placed. Besides speeding up the counting of notes, the adequate hopper size improves the machine’s efficiency. If you handle a lot of money daily and you pick a machine with a small hopper, you must feed more money into the machine. With a properly sized hopper, you only need to stack money once.
Error and Counterfeit Detection Features:
A business that handles multiple daily transactions is prone to counterfeit cash, folded or torn money. Therefore, it is very economical having a fake note detection machine that counts sufficiently. With the error detection feature, the machine can detect faulty or counterfeit notes and remove them from the sequence. This minimizes the falsification of money counts. When looking for an accurate and error-free machine, pick one with better quality lighting and an image of the money it tests.
Ease of Use:
What is the point of having a quality money counter if you cannot use it? Picking the right money counter means looking for user-friendly features. For example, the interface should be easy to use once you set it up instead of reading the manual from time to time. Also, look for a machine with fewer buttons that your staff can quickly master. Finally, when buying a cash counter, test its performance or read reviews about it to make an informed decision.
After taking note of these features, you will understand what you expect from a money counter and go for it. And when buying a machine, source one from a company with an excellent market reputation and dedication to durability and service. Fancy technology should not blind you; first, understand your needs and choose a deserving cash counting machine.