Arizona State Savings & Credit Union Learning & Development Cash Handling 101 Arizona State Savings & Credit Union Learning & Development

Cash handling....you’re the expert Concentrate Consistent Organized Count three times Compare cash total to transaction receipt

Cash Control Your responsibility to ensure proper cash control. Sole responsibility for the cash assigned to him or her. While operating a cash drawer take the following precautions: Never leave cash unsecured or unattended Cash is to be locked and out of reach/sight of members Passwords, combinations and access code should be confidential Verify the drawer in dual control before taking custody of the drawer Do not allow access to your cash drawer Count and list currency

Cash Limits Drawer limits may vary Generally top drawer limit is $2500.00 All excess cash should be kept in your teller vault or second drawer Stay within drawer limits Keep mute money to a minimum

Methods of counting currency Hand to counter Remove cash from drawer Count desire quantity to counter, start with large bills Replace excess in drawer Place next desired denomination on top of pile When all desired bills are stacked on the pile, turn over and count to the counter Hand to hand Remove cash from drawer, one bill at a time, place in left hand Repeat process for all desired denominations When all desired bills are in your left hand count from left to right

Cash Quiz Who’s picture is on a dime?

Counting Methods By denomination By units By quantity Count each bill by face value Add each new bill to the previous amount By units Leave off zeros Count by first digit only Add zeros at the end of the count By quantity Count desired denomination quantity only Multiply the total on paper or adding machine Repeat for all denominations

Counting coin Separate the coin by denomination Spread the coin flat on the counter Count two at a time – counter to hand Count by quantity Repeat for all denominations

Cash Quiz Who’s picture is on a nickel?

Keep your drawer organized Arrange paper currency in stacks When opening a stack of bills, toss the strap after verification Get rid of paper when opening rolls of coins Make sure that your coins and paper currency are in the right area of the drawer Make sure your dollar bills are neat, not bunched or bent Never leave your teller drawer open when you are going to be away from it

Cash Quiz Who’s picture is on the $100 dollar bill? Benjamin Franklin

Count cash three times Count cash as you take it from your cash drawer Count cash to yourself as you count it out on the counter or hand to hand Count cash aloud as you count it to the member

Redeeming Damaged Money Redeemable at full face value More than half of the original note can be exchanged Less than half of the original note – must be sent to the Treasury for redemption Redemption of mutilated coin is handled by the US Mint

Foreign Currency At this time we do not exchange foreign currency Refer members to a commercial bank

Cash Quiz Who’s picture is on a five dollar bill?

Portrait – One of the most noticeable changes is a larger, slightly off center portrait that incorporates more detail. Moving the portrait off center reduces wear on the portrait and provides more room for the watermark. Watermark – created during the paper-making process, depicts the same historical figure as the portrait. It is visible from both sides when held up to a light. Security Thread – embedded polymer strip, positioned in a unique spot for each denomination, guards against counterfeiting. The thread itself, visible when held up to a bright light, contains micro-printing – the letters USA, the denomination of the bill, and on the $50 and $20, a flag. When viewed under ultraviolet light, the thread glows a distinctive color for each denomination. Color-shifting ink – The ink used in the numeral in the lower right-hand corner on the front of the bill looks green when viewed straight on but black when viewed at an angle. Micro-printing – can be read only with a magnifier and becomes blurred when copies, appears in unique places on each denomination. For example, on the $20 bill, it appears around the border of the portrait and within the number in the lower left corner. Fine-line printing patterns – appear on both sides of the note, in the background of the portrait and the buildings. This type of printing is difficult to reproduce on scanning equipment or replicate by other printing methods. Low vision feature – a large dark numeral on the back of the note makes it easier for people with low vision to identify the note’s denomination. Serial number – no two notes of the same kind, denomination, and series have the same serial number. This fact can be important in detecting counterfeit notes; many counterfeiters make large batches of a particular note with the same number.

Detecting Counterfeit Currency Original bills are on the left

If you receive a counterfeit… Do not return it to the passer Delay the passer if possible (if a stranger) Note the passers description (if a stranger) Telephone the police or Secret Service Write your initials and date on an unprinted section of the note Minimize handling the note; place it in an envelop Issue the presenter a receipt for the counterfeit bill

Fun Facts Since October 1, 1877, all US currency has been printed by the Bureau of Engraving and Printing The total number of fifty and one hundred dollar notes passed and seized in 1980 was 777,957 By the end of the Civil War, between one-third and one-half of all US currency in circulation was counterfeit

Do you know? The largest currency denomination ever produced? $100,000 series 1934 Gold Certificate printed from Dec 18, 1934 to Jan 9, 1935 What denomination of currency notes is the Treasury Department no longer printing? $500, $1,000, $5,000, and $10,000. Production of these denominations stopped during World War II. Their main purpose was for bank transfer payments.