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Blog: There Are Many Ways to Use a Teller Cash Recycler - Which is Right For You?

June 12, 2024  |  FREDDIE RAPHAEL

In previous installments of this series, we’ve looked at different teller cash automation devices and the benefits of viewing their operation end-to-end. Now, let’s look at the different ways you can install and use a teller cash recycler (TCR) inside your branch and how you can determine which way is right for you.

First, what different installation and use types are there for TCRs?

The most common one is likely having the TCR installed directly at the teller. There is some variation here: In some cases, each teller has their own teller cash recycling device, in other cases two or more tellers share use of the same device. In the latter case, a virtualized teller register will be used to keep track of the transactions. In some cases, one central TCR is functioning as an interim or day vault for all tellers. The number of TCRs you install at your teller line depends heavily on the volume of transactions taking place at your location and the capacity of the device(s) you install.

Another way to use a TCR is to install it in a consulting or VIP area – usually in an inconspicuous under-the-counter installation so the consultant can interact with the device from a seated position.
Teller Cash Recycler
This enables bankers to accept and dispense cash at a banker desk, which provides more privacy to the consumer. Again, one TCR can be used by a single staff member or be shared among several.

Similarly, a TCR can also be installed in the back office and be used as the main cashier’s window or in a hidden room. This type of installation is also suitable for VIP services or for handling commercial deposits. However, the latter requires that the TCR has a high enough capacity to handle larger volume transactions.

At some banks and credit unions the majority of their transactions occur outside of the branch at the drive-thru. This is aided by the fact that many drive-thrus stay open 24/7, or at least long after the business day ends.
Teller Cash Recycler
A teller cash recycler can be installed here as well as it is a convenient touchpoint for both employees and consumers. There has been a resurgence in drive-thru popularity (or necessity) since the COVID pandemic. It offers a cost-effective way for consumers to access financial services while prioritizing their health and safety (and that of staff).

Lastly, a TCR can also be customer-facing in a customer-operated and teller-assisted scenario. While the teller initiates the transaction via their station or a table, the customer places cash in the deposit tray or takes it from the cash-out tray.

Each of these installation types has its merits. The question is which one is the right size or right fit for you? There are four main factors to consider:
Teller Cash Recycler
VOLUME AND STAFFING
What is your current teller transaction activity? Do you expect this number to change in the future and how? What is the number of staff members required to accommodate this volume? What is the mix of commercial versus consumer traffic at the location you are looking at? Are your customers coming into your lobby to transact or do they prefer to use the drive-up? 
OPERATING MODEL
Do you use a traditional staffing model with the more classic distribution of roles? Or are you using a universal banker model where your staff members are trained to take care of a variety of tasks and transactions throughout your branch? Are there defined roles or do all employees share responsibilities?
BRANCH SIZE AND DESIGN
Can employees easily share TCR units? Is the drive-up teller situated in the same physical area as the lobby teller? Are there teller pods or other design features that will preclude the use of shared units?
EXPECTED BENEFIT
Are you looking to reduce headcount and cost? Do you expect to see an increase in sales engagement? How much time is devoted to setup/close-out teller drawers? Is there a potential reduction in security risks associated with unsecured drawers?

Diebold Nixdorf’s Advisory Services team is here to help you determine the right strategy for your teller cash recyclers. We can help you with a transaction analysis by reviewing your cashier transactions in detail by branch to determine the number of transactions that would benefit from a TCR. We calculate the impact a TCR would have at a branch level with consumer wait time, cashier efficiency, and potential revenue growth. In addition, we can support you in the optimization of your branch deployment strategy by determining which branches would benefit from a TCR, prioritizing the number of TCRs per branch that are needed, and developing a deployment strategy for a multi-year timeframe that will have the highest positive impact. Lastly, we can work with you to calculate the total cost savings, estimate the new potential revenue growth, determine the financial payback, calculate the internal rate of return, and the net present value to develop a financial justification.

Once you have decided to use this technology, our Branch Design Team can identify the right locations and design to bring your branch vision life.

If you’d like to take advantage of our consulting services, please contact your Diebold Nixdorf associate today and they will organize a session.

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Freddie Raphael

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Freddie Raphael

Senior Manager, Advisory Services Diebold Nixdorf

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