Currency Handling Equipment

Guide to Currency Handling Equipment

Time-saving machines can sort and count currency in seconds
By Charles Dervarics

Everybody loves cash, but processing it is a small business headache unless you have the right solution. Today's currency handling equipment sorts both coins and bills, and some solutions even come with built-in counterfeit detection.

This 3-part strategy will guide you through the search process:

1. Assess your needs based on daily cash volume
2. Look for technology that can scan, sort and count currency
3. Find cost-effective features appropriate for your business

Whether you need an upfront vending-machine solution or a back-end coin and currency counter, the market is flush with vendors.

Action Steps

The best contacts and resources to help you get it done

Get counterfeit protection Bogus bills can hurt your bottom line. Seek solutions that take the added step of built-in detection of counterfeit currency.

I recommend:  Progressive Business Systems equips many of its fast-sorting machines with magnetic counterfeit detection.

Look for special features Cashless transactions are on the increase, and some currency counters will meet this need as well.

I recommend:  Consider Cummins-Allison, whose products process currency and bar code coupons or tickets at the same time. Many of the product lines claim to recognize the denomination of every bill at speeds of 1,500 bills per minute. Large vendors such as Money Controls may customize solutions for specific types of businesses, from arcades to gas stations and parking facilities.

Get more for your money Look for solutions that not only count currency but also fill other small business needs.

I recommend:  Acucount's lightweight machines have a scale for mailing and a print function that provides a detailed audit trail by employee ID number.

Install card readers For many vending machines today, flexibility is the buzzword for currency handling equipment.

I recommend:  Coinco has coin and bill handling equipment with the added convenience of credit and debit card readers.

Don't forget maintenance Any currency handling machine needs special care to give it a long shelf life.

I recommend:  ABC Office sells currency handling equipment and special cleaners and air dusters to promote upkeep.

Tips & Tactics

Helpful advice for making the most of this Guide

• Expect prices from $100 for compact units to $700 and up for more sophisticated machines.
• For high-volume operations, look for equipment that can process up to 1,200 bills per minute.
• Your new machine should have few or no moving parts, and many will weigh less than 10 pounds.
• Some products feature a rechargeable battery so you can take the machine to different locations.