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Why Do We Need Currency Counter?

Posted by Ribao Technology on Monday, June 15, 2009 5:22:22 AM
Currency counter or currency-counting machine is a machine which counts money, either stacks of banknotes or loose collections of coins. Counters may be purely mechanical or use electronic components. The machines typically provide a total count of all money, or count off specific batch sizes for wrapping and storage.
To common people, currency counters seems unnecesssary, but to bank officers or supermarket vendors, currency counters are indispensible.The reasons why currency counting machine is necessary are as follows.
First, using money counter is very convenient and easy to manipulate. You just need to put the money into the machine. The counting process takes no more than 5 minitues
Secondly, one does not need to worry about the counting result since the error rate is 0%
Thirdly, it does not cost you much to obtain a currency counter.
In a word, currency counter is necessary and useful especially to banks, vending machines.

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Bill Counters With Couterfeit Detection

Posted by Ribao Technology on Friday, March 27, 2009 5:00:00 PM
For most retailers, the only line of defense against counterfeiting is an adolescent clerk who holds the large bill up to the light, but has no idea what she is supposed to be looking for. Some however, have a secondary precaution of requiring managers to inspect the bills; managers who despite their post-adolescence, have no idea what they're supposed to be looking for.

 

Insurance providers do not compensate for counterfeit losses because the policy holder is responsible for regulating the currency that it willfully accepts. Even more alarming is the near certainty that businesses, banks included, that pass along counterfeit money will not assume liability for it.

The best way for a company to protect itself against "getting stuck with the [homemade] bill" is to use a bill counter with counterfeit detection. Banks have them. When making a substantial withdrawal or cashing a sizeable check, insist that the teller use the bill counter rather than her fingers. Even if it seems petty, it's less of a hassle than attempting to recover counterfeit funds.

Also, every business should have a money counting machine with the counterfeit detection feature to ensure that all the paper money that changes hands is money and not just paper. Depending on where it's purchased, companies can buy money counters for less than one of the most commonly falsified bills.

It takes no more effort to check with a machine than with a manager and by doing so, the clerks and managers can stop pretending they know how to spot a fake. So in a way, buying a bill counter prevents counterfeiting twice.

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