5 Factors To Consider When Buying a Money Counting Machine
If you are a business owner or financial institution, having a quality money counting machine is essential. Counting stacks of bills by hand is time consuming and inefficient, and you could potentially count some counterfeit notes without even noticing. That is why these machines are equipped with the latest counterfeit detection technology and fast processing speed to count bills in the most efficient way possible. Check out a list of the latest money counting machines on the market for more information on pricing and models. A money counting machine is a very useful tool that can exponentially reduce counting errors and ensure the accuracy of the total amount. When shopping for a money counter, there are five factors to consider before making a purchase.
The cost of a money counter is the first criteria to consider. Especially if you have a budget or a specific price range in mind, it’s important to do a price check on every model and take note of what the machine offers for that price. Usually, the more expensive it is, the more features and functions it has.
There are money counters on the market that go for as low as $200 that have just the basic functions needed for counting. Fancier ones like mixed-money counters can go for as much as $1,000 or more. Multi-function counters are the most desirable ones for professional use; they often come with imaging software and technology that allows the machine to detect the denomination of the bill.
Usability (Easy of Use)
A money counter shouldn’t be difficult to use, in fact, it should be as easy as one, two, three. In the simplest terms, after turning it on, it’s all about inserting the stack of bills into the rear of the machine and letting the rest take care of itself. But every money counter comes with an operation manual for specific functions and settings just in case. Usually, the more expensive the machine is, the more complex it becomes with the addition of more buttons and functions that can take some time to get used to. Therefore, ease of use plays a large part in the buying process for one of these machines. It’s highly recommended to test one before making a final decision or read online reviews from previous buyers.
It’s a must-have feature for a money counter to have counterfeit detection. This is one of its many selling points, and while not every model has this feature, you definitely want it on yours. Fake bank notes circulate throughout the U.S banking system all the time, and it’s important to identify the legitimate bills from the counterfeit bills. Trying to identify fake bills by hand is time-consuming, and this is where money counters play an excellent role in expediting the counting process. Counterfeit detection uses UV light detection that reveals and identifies key markings and symbols on the bill that can’t be seen with the naked eye.
Counting Multiple Currency Types
In cases where you need to count more than just U.S banknotes, you ought to consider multi-currency counters, which can process multiple types of currency from different countries. These models are usually more high-tech, featuring color image sensors and advanced imaging software to determine the denomination of each note. The main benefit of these counters is that they can accurately count the currency from other countries with practically no errors at all. But upon further analysis, such a machine may not be necessary for a small business owner in a retail shop since the majority of the currency will be local to the area. Multi-currency counters are better suited for international businesses, banks, and investment firms.