Counting stacks and stacks of money by hand is tiresome and time consuming, especially when you have to do it everyday. It’s inefficient and chances are that you might count in some counterfeit notes unknowingly. That’s why a cash counting machine is a smart and long term investment for your business. A money counting machine can count your cash, detect counterfeit notes and even sort your bills by value i.e by 10s, 20s, 50s, 100s etc. Being a first time buyer for a machine you know nothing about, for technology that seems too good to be true can be a daunting task. That’s why this guide will help you in making decisions for your first cash counting machine. What features you should be on the lookout for considering the nature of your business. Here are some factors to consider when buying the machine-
- Multi-Currency Counter- Such a feature may not be relevant to you if you’re a small business owner operating locally as you’ll only get the local currency as payment. In such a case, having a multi currency counter in your machine may not be a suited feature and will just be heavier on your pocket. Now if your business handles different currencies or you’re a bank that exchanges currencies, a machine with such a feature would be best suited for you as it will be able to count currencies from other countries with zero errors and make your job easier.
2. Bills Value Detection- If you can’t keep your bills sorted, it is advised that you get a machine with an inbuilt bill denomination value detection technology, which would count different values accurately and classify it accordingly for your ease.
3. Counterfeit Detection- With the number of counterfeit bills in circulation growing every year, it is only smart that you get a machine with counterfeit cash detection technology built in and save your business and yourself from counterfeit cash. Many machines make use of UV(ultraviolet), MG(magnetic) and IR(infrared) technology to detect authentic bills. It is advised to get such a machine if you have a lot of cash flow as checking each bill by hand becomes a tedious task and often such marks which indicate authenticity miss the naked human eye.
4. Ease of use- The more functions you try to pack into one machine, its ease of use will reduce accordingly. It isn’t as easy as inserting the stack of cash in the machine and clicking on a button and it counts and sorts and checks for counterfeit money. The machine becomes complex to use as functions and buttons are added onto it. So always make sure to fully understand how the machine works before purchasing it. Every machine does come with a manual which has in it the functions mapped out from A-Z.
5. Pricing- Depending on your businesses need and your daily flow of cash, a cash counting machine with expensive features may not even be needed. If you’re a small business then all you might need is a simple cash counting machine with minimal features. But if you’re a big business with international clients or a bank with international currency coming in and out daily, then investing in a good and expensive cash counting machine with all the features included would be a wise choice.
Now that you’ve read up on this guide and educated yourself a little, we hope making the decision for your business has become easier. Make sure to ask existing customers about their experience and opt for a company that has solid and reliable customer service for the future. Time is money but you shouldn’t spend of yours trying to count it.