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Why now is the time for banks to install self-service coin counters

Why now is the time for banks to install self-service coin counters

Coin-counting machines have become a staple in banks across the U.S., and for good reason. These machines make trading coins for cash (or deposit) simpler, eliminating the time and cost of counting by hand. Where bank tellers or customers had to spend hours sorting and adding, they now pour the change into a machine. However, many banks have recently removed the service from their branches. With more individuals banking online, some banks feel offering a range of services in person just isn't worth it. This attitude may actually open the doors for savvy banks looking to win over frustrated customers.

Filling the self-service coin counter space

With several large banks removing counters from their branches, consumers need to look elsewhere for such services. For those who rely on coin counters, that could mean heading to a new bank. With so much space in the market, now is the time for banks to fill the counting gap. Including these machines in your bank's branches gives yet another incentive for consumers to choose your business over another, especially because rivals removing the service now require customers to count coins by hand before depositing them at a branch.

Choosing the best coin-counting machines

Your investment in coin counters doesn't have to bog down your branch staff. In fact, choosing self-service coin counters allows clients to help themselves. This prevents lines from getting long and saves your employees' time. Of course, which brand you purchase or rent is instrumental in your success. TD Bank removed counters in part because the brand it went with proved inaccurate. Cummins Allison's Money Machine 2 has a high accuracy rating, ensuring your customers will get a correct exchange. 

February 23, 2017