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Tellers

THE JOB

TELLERS receive and pay out money and keep the records necessary in various
banking and other financial transactions.  They work in banks, savings and
loan associations, personal finance companies, credit unions and large
businesses that operate credit offices.  Their tasks vary with the size and
type of institution.  In addition to routine duties, Tellers help build good
public relations by providing prompt, efficient, courteous and personalized
service to customers.  They help increase business by promoting additional
products and services.  Since financial institutions now offer more complex
financial services, customer service duties are important aspects of the
job.  Knowledge of institutional services is essential.

In small banks and savings and loan associations, Tellers perform a variety
of tasks.  However, in large banks and other financial institutions, Tellers
may be assigned to one type of transaction and may have special job titles.
For example, one Teller may handle transactions for clients who have made
loans while another sells foreign currencies and traveler's checks.  Tellers
accept payments for utility bills, Christmas Club accounts, the issuance and
collection of customers' notes, and open new accounts. 

Commercial Tellers, also called paying and receiving Tellers, are the most
common.  They accept customers' deposits for commercial and savings
accounts, cash checks and pay withdrawals.  Before cashing checks, Tellers
must verify customers' identity, account balances and signature.  When
accepting deposits, they check the accuracy of deposit slips and enter the
total in customers' passbooks and on deposit receipts.

Before customer service hours, Tellers receive and count the daily supply of
cash needs.  They arrange monies received, by denomination, in cash boxes
and coin dispensers.  After banking hours, Tellers are required to total
amounts deposited, count cash on hand, and balance the day's accounts using
a teller machine.  They sort checks and deposit slips and return cash to the
vault.

Credit union Tellers spend less time at the window and more time on clerical
and bookkeeping tasks than bank or savings and loan Tellers, as transactions
are often done by mail or payroll deduction.  Credit union Tellers often
receive money directly for loan payments or purchase of credit union shares,
cash checks and interview applicants for membership or for loans.

Tellers operate adding, calculating, computerized equipment and other office
machines.  Most Tellers use computer terminals for recording deposits and
withdrawals.  They make change, total deposits, and compute financial fees,
interest, foreign currency exchange rates and service charges. 

Along with usual routine duties, Tellers may perform other tasks.  They may
sort incoming deposits and assist in processing incoming and outgoing mail.
They may also count, verify and post armored car deposits; type and file
checks, loan forms and other documents; and prepare statements and currency-
received tickets.  They may also photograph records using a microfilm machine.


WORKING CONDITIONS

Most Tellers work in pleasant, air-conditioned, and quiet surroundings.
Most offices have modern equipment and furnishings.  Tellers may experience
occasional pressure because of the need for careful work and prompt service
to lines of customers during peak banking hours.  The work involves standing
for long periods while performing repetitive tasks.  Normal or corrected
hearing and sight are necessary.  Tellers must be able to work well with
other staff.  They should enjoy meeting the public, notwithstanding the
occasional disagreeable customer.


EMPLOYMENT OUTLOOK

The California Projections of Employment, published by the Labor Market
Information Division, shows that the number of Tellers will decline through
2005.

Estimated number of workers in 1993              79,150
Estimated number of workers in 2005              61,570
Projected Growth 1993-2005                         -22%
Estimated openings due to separations by 2005    31,090

(These figures do not include self-employment or openings due to turnover.)

Bank consolidation and the use of additional technology will lead to reduced
numbers of Tellers in California.  However, many jobs will become available
as turnover, and the use of more part-time workers, will lead to additional
job openings.  Qualified applicants should have relatively good prospects
because this occupation generally provides a large number of job openings.
Cyclical swings in the economy appear to have little effect on the number of
Tellers needed.

Employment opportunities are best for applicants with at least six month's
experience.  However, opportunities are usually available for trainees with
the necessary aptitudes and skills.  The outlook is also favorable for part-
time workers to help serve customers during peak hours.  Most part-time
Tellers work in commercial banks and savings and loan associations.


WAGES, HOURS, AND FRINGE BENEFITS

Salaries depend on the size of the firm, work experience, formal education,
ability, and the initiative of the employee.  Pay also is usually higher in
metropolitan areas.  Starting salaries paid by banks, savings and loan
associations, and credit unions range between the minimum wage and $9.50 per
hour.  Experienced Tellers earn an hourly range of $6.50-$18.00.

Many financial institutions hire Tellers to work part-time, between 20 and
30 hours a week.  Full-time Tellers work 40 hours weekly, which may include
evenings or Saturdays.

Most employers pay sick leave, vacation and retirement plans; most of them
also pay medical, dental, vision and life insurance.  A few firms provide
for child care. Benefits may be available only to full-time employees.


ENTRANCE REQUIREMENTS AND TRAINING

Applicants must have at least a high school education or its equivalent and
be bondable.  Applicants with cashiering, clerical, and public contact
experience are preferred.  Preparatory courses such as business arithmetic,
business law, bookkeeping, typing, speech, and office machine operation are
helpful.  Familiarity with computer terminals is desirable.  Essential
qualifications  include good communications, numerical and clerical skills,
a pleasant personality, tact, neatness, speed, a good memory and the ability
to handle details.  Tellers must make sure every financial transaction is
kept strictly confidential..

Most banks offer a programmed series of instruction that combines on-the-job
training with classroom instruction.  Training for new Tellers may last from
two weeks to six months or longer.  New Tellers are usually closely
supervised by experienced Tellers before they are allowed to work
independently.

Employers give constant on-the-job training to acquaint employees with new
and current procedures and equipment.  Employees are encouraged to further
their education through outside studies.  Obtaining an American Institute of
Banking Certificate is recommended.


ADVANCEMENT

Most employers promote from within.  Advancement depends upon length of
experience, skill development, and the ability to handle responsibilities
independently.  In banks, paying and receiving Tellers may become chief,
note, loan or collection and exchange Tellers.  Tellers with management
potential can be accepted into training programs.  Head Tellers can promote
to operations supervisor and then to assistant branch manager.  The American
Institute of Banking, an educational affiliate of the American Banking
Association, and the Institute of Financial Education offer training courses
to help employees of financial and thrift institutions increase their skills
and knowledge and attain promotional goals.  In savings and loan associations,
Tellers may become lead or supervising Tellers.


FINDING THE JOB

Prospective Tellers may find jobs by applying directly to banks and other
financial institutions.  Employment opportunities are listed with the
California Employment Development Department Workforce Services Offices and private
employment agencies.  Some firms advertise Teller openings in local
newspapers.  Part-time work is often available.  Tellers interested in
credit union work can request applications from the California Credit Union
League.


ADDITIONAL SOURCES OF INFORMATION

American Bankers Association
1120 Connecticut Avenue, N.W.
Washington, DC 20036
(202) 663-5000
www.aba.com

California Credit Union League
2350 South Garey Street
Pomona, CA 91766
(909) 628-6044
www.ccul.org

RELATED OCCUPATIONAL GUIDES

Cashiers         No. 31

OCCUPATIONAL CODE REFERENCES

DOT (Dictionary of Occupational Titles, 4th Ed., 1991)
Teller      211.362-018

OES (Occupational Employment Statistics) System
Tellers          531020


Source:  State of California, Employment Development Department,
         Labor Market Information Division, Information Services Group,
         (916) 262-2162.