Automated cash handling is the process of dispensing, counting and tracking cash in a bank, retail, check cashing, payday loan / advance, casino or other business environment through specially designed hardware and software for the purposes of loss prevention, theft deterrence and reducing management time for oversight of cash drawer (till) operations.
The hardware consists of one or more of the following devices:
In an automated cash handling environment, a cashier or teller opens a cash drawer (till) at the start of shift by dispensing cash from the automated cash handling equipment. At the end of the shift, the cashier or teller deposits cash into the automated cash handling equipment which counts the cash and deposits it back into the safe. A manager sets permissions for each teller or cashier for dispensing and counting cash. A few automated cash handling systems allow for networking and remote operation (dispensing, counting, reporting). Remote operation of automated cash handling equipment facilitates cost savings and efficiency by centralizing all cash related activity to one location that can remotely monitor and control cash operations.