Tellers

 1. OVERVIEW

Tellers play a vital role in the banking industry, processing customer transactions such as cashing checks, accepting deposits, and assisting with withdrawals. They are responsible for ensuring that all transactions are handled accurately and efficiently while providing high-quality customer service. The role requires strong attention to detail and the ability to manage cash securely.

• 2024 Median Pay: $39,340 per year ($18.91 per hour)

• Job Growth (2023–2033): -15% (Decline)

• Typical Education: High school diploma or equivalent

• Work Experience in a Related Occupation: None

• On-the-job Training: Short-term on-the-job training

2. Role Breakdown by Level

Entry-Level Role: Teller

• Job Titles: Bank Teller, Customer Service Teller

• Education: High school diploma or equivalent. Some employers may prefer candidates with a degree or college courses in business or finance.

• Experience: No prior experience required. Training is provided on the job.

• Certifications: None required, though some employers may prefer candidates with customer service certifications or basic financial knowledge.

• Core Duties:

• Accept checks, cash, and other forms of payment.

• Process deposits, withdrawals, and other routine financial transactions.

• Maintain a balanced cash drawer.

• Answer customer inquiries and offer bank products as needed.

• Adhere to all banking policies and procedures.

• Salary Range: $31,270 – $48,270 per year

• Key Skills:

• Customer service skills

• Attention to detail

• Strong math and cash-handling skills

• Communication and interpersonal skills

Mid-Level Role: Senior Teller / Head Teller

• Job Titles: Head Teller, Senior Teller, Lead Teller

• Education: High school diploma or equivalent, with some additional training or certification in banking or finance.

• Experience: Several years of experience as a teller or in banking operations.

• Certifications: Some certifications, such as from the American Bankers Association (ABA), may be preferred.

• Core Duties:

• Supervise and train junior tellers.

• Handle more complex customer transactions and issues.

• Maintain schedules for teller staff.

• Ensure compliance with all banking regulations.

• Oversee cash handling and vault management.

• Salary Range: $39,340 – $55,000 per year

• Key Skills:

• Leadership and team management

• Advanced customer service

• Problem-solving

• Knowledge of financial products and services

Senior-Level Role: Branch Manager / Banking Operations Manager

• Job Titles: Branch Manager, Banking Operations Manager, Retail Banking Manager

• Education: Bachelor’s degree in business, finance, or a related field.

• Experience: 5+ years in banking, with some time spent in supervisory or managerial roles.

• Certifications: Professional certifications such as Certified Branch Manager (CBM) may be advantageous.

• Core Duties:

• Oversee branch operations and staff.

• Ensure the branch meets financial goals and customer satisfaction standards.

• Manage cash flow and operations of the branch.

• Handle complex financial transactions and customer concerns.

• Drive sales and performance of banking products.

• Salary Range: $55,000 – $80,000 per year

• Key Skills:

• Leadership and strategic planning

• Financial management and budgeting

• Sales and business development

• Conflict resolution and decision-making

3. How to Become a Teller

• Education Requirements:

• Entry-Level: A high school diploma or equivalent is typically required. Some positions may require a postsecondary certificate in banking or finance.

• Mid-Level: Additional banking certifications or experience in customer service is preferred.

• Senior-Level: A bachelor’s degree in business, finance, or a related field is preferred for management roles.

• Work Experience:

• Entry-Level: On-the-job training is provided, with no prior experience required.

• Mid-Level: Several years of experience working as a teller or in related roles in the banking industry.

• Senior-Level: Significant experience in banking operations, with leadership or supervisory experience.

• Licenses and Certifications:

• Entry-Level: Certifications are generally not required but can improve employability.

• Mid-Level: Professional certifications like Certified Bank Teller (CBT) or customer service-related courses may be beneficial.

• Senior-Level: Certification in branch management, such as Certified Branch Manager (CBM), or other financial certifications could be advantageous.

4. Skills & Tools

Core Skills

• Customer Service: Handling customer requests and transactions with professionalism and accuracy.

• Math Skills: Managing large sums of money and making accurate calculations for transactions.

• Attention to Detail: Ensuring that all transactions are processed correctly.

• Communication Skills: Interacting effectively with customers and team members.

• Problem-Solving: Addressing issues or discrepancies in financial transactions.

Tools & Equipment

• Banking Software: Tools like Finastra, Fiserv, or other banking software for processing transactions and managing accounts.

• Cash Registers and ATMs: Systems used to process payments, withdrawals, and deposits.

• Customer Relationship Management (CRM) Software: Tools used for managing customer interactions and financial products.

5. Work Environment

• Work Schedule: Most tellers work full-time during regular business hours. Some positions require evening or weekend work depending on the bank’s hours.

• Work Locations: Tellers are primarily employed in bank branches or credit unions. Head tellers or branch managers work in management offices or oversee several locations.

• Physical Demands: Tellers typically stand for long periods and may need to help lift or assist customers physically. There is a moderate level of stress due to handling cash and customer inquiries.

6. Pay

• Median Annual Wage (2024): $39,340 per year

• Salaries by Specialty:

• Tellers: $39,230

• Head Tellers: $41,110 (Depending on location and experience)

7. Job Outlook

• Job Growth: -15% (Decline) from 2023 to 2033, due to automation and online banking reducing the demand for tellers.

• Annual Openings: Approximately 27,300 openings each year, driven by retirements and transitions to other roles in the workforce.

8. Related Occupations

• Bookkeeping, Accounting, and Auditing Clerks: Compute, classify, and record financial data.

• Customer Service Representatives: Interact with customers to resolve complaints and provide service.

• Cashiers: Process payments and disburse money in retail settings.

• Loan Officers: Evaluate, authorize, or recommend loan approvals.

9. Resources for Learning & Advancement

• Books:

• "The Teller’s Guide to Banking" by Susan B. Berke

• "Customer Service for Dummies" by Karen Leland

• Online Courses:

• LinkedIn Learning offers courses on banking and customer service.

• Coursera provides courses on finance and banking basics.

• Certifications:

• Certified Bank Teller (CBT) by the American Bankers Association (ABA)

• Communities:

• Reddit: r/BankingCareers for tips and networking

• YouTube: Channels offering tips on banking customer service and operations.

This guide can be used as a roadmap for anyone interested in a career as a teller, from entry-level roles to advanced managerial positions in the banking sector.