If you’re transacting and dealing with large amounts of hard currency, then you can clearly relate to the phrase time is money. This is in relation to counting such volumes of money physically and the time it will take you.
You may be very good at dealing with money counting but an error has to occur at some point. Money counting machines come in handy and act as a silent partner with their counting and tallying efficiency in minutes.
What are Money Counting Machines?
This is simply a machine that you can use to count, check, and sort your banknote or coin currencies. Their mode of operation is similar in all machines but may slightly vary depending on the model and specifications required.
Benefits of Money Counting Machine
It is very tiresome counting large sums of money and they come in different denominations. This means that you will spend a lot of time counting such bills and organizing them. Money counters can achieve the same in minutes by counting and organizing them for you.
We make many errors while counting and calculating large amounts of money as humans. A money counter gives accurate results by individually counting every bill and giving the correct summation after counting.
· Counterfeit Detection
When looking for counterfeit currency, it is almost impossible for your naked eye to detect fake bills. Money counting machines have several advanced features that can detect fake bills while counting them.
Such features include infrared scanning, ultraviolet ray technology, thickness analysis and dimensional detection. The machine will notify you immediately if it detects a counterfeit bill.
Money Counting Machines has a variety of applications varying from banks to restaurants and many other businesses. Such establishments cannot operate efficiently without this gadget because of the convenience of the users.
Don’t let yourself get fooled that, just as the name suggests, Money Counting Machines are just for counting money. You can easily find various models that have additional functions such as sorting the bills and bundling them.
This ensures that you handle your cash in the best possible way. Additionally, it means that you have invested in a very efficient cash management means and not just a counting machine.
· Smart and Reliable
Modern Money Counting Machines not only come in sleek and trendy designs but are also smart. This means that it can use its own system to analyze data, diagnose errors, and inform the user of any malfunction.
They are intelligent enough to recognize various types of notes based on regular data inputs. They also give the sum total of the days count besides just counting the currency.
Features to Look for in Cash Counting Machine
Sourcing for a Cash Counting Machine can prove to be a tedious task since the market is flooded with a wide variety of them. If you want your decision to be well-informed and appropriate for your application, you have to look out for specific favorable features.
We can analyze some of them in detail to see the most suitable ones you will require:
· Cash Handling Volume
You need to determine how much cash your business handles daily to consider the capacity that your machine can handle. If you handle large volumes of money, then a high-speed counting machine with advanced capabilities would be appropriate.
If you are handling low volumes of money in your business, then you can settle for a machine that has the features of a basic note-counting machine.
Your budget will greatly determine the complexity and kind of features that you can look for in currency counters. After ascertaining your budget range, look out for the features that give you the best money value.
You should also understand that as much as the cost is a crucial factor, it is not the only determinant of feature selection. You should settle for a machine that satisfies all your requirements with relevant features.
· Counterfeit Detection
It is of utmost importance that you settle for a currency counter that has a dependable ability to detect counterfeit currency. This is because counterfeit currency may just be the beginning of your business’s downfall.
We have machines that employ various modern technologies for counterfeit currencies. These include infrared sensors, magnetic ink technology, ultraviolet rays, dimensional detection, and thickness analysis.
· Value Counting/Batch Counting
The value and batch-counting machine features will depend on the requirements of your business. The batch-counting feature makes it possible for you to count a certain number of notes in a single batch.
This is important, especially in the preparation of cash deposits or if you are managing various cash registers. The value counting feature makes it possible for you to know the total value of the notes your machine has counted.
Ancient currency counting machines used to be very bulky and eat up more space. The current versions have advanced designs and functions.
They can settle for currency counters that are light in weight and compact for easy portability. Portability is also enhanced by the use of batteries to power some of these machines.
In the process of calculating and counting money, we are prone to making mistakes especially when large sums of money are involved. The money counter can achieve this with utmost accuracy and perfect repeatability.
Each bill placed on the counter is counted individually and they can be rechecked. They then display the total amount counted.
· Ease of Use
Money counters are generally very easy to use with their complexity varying based on their cost and design. Operating them is normally as easy as just placing the currency on the hopper and pressing a counting button.
Even with the most complex functionalities and features, you can still easily operate these machines with additional extra buttons to push. An additional user interface can come in handy to ease the operation for you.
· Hopper Capacity
The hopper is the tray in which you place your currency and it has a pouch-like structure. The size of the hopper is a determinant feature since it will dictate how much currency your machine can count at a go.
A business handling huge amounts of currency requires a counter with a bigger hopper. However, the rate of counting will depend on your machines feed capacity and its carrier capacity.
This feature in the cash counter enables you to count your currency in batches with the machine displaying a subtotal for every batch. This is very convenient especially when you want to count or dispense money from many register drawers.
Parts of the Money Counter
Some of the main components and functions of the parts of your Cash Counting Machine include:
· Cash-out Part
This component comprises two constituent parts: the cash-out rubber wheel working together with a pair of cash-out runners. They are mainly used in separating one batch of banknotes from the following batch and conveying them to the counter.
· Receiving Part
This part has three constituent components: a claw wheel for receiving bank notes, a holding plate for grasping the banknotes and a blocking plate. The banknotes are initially stacked and inserted on the different claws on the claw wheel during counting.
· Transmission Part
This is what drives the whole mechanical process through a single or double DC or AC motor. The power from the motor is transmitted to the various shafts using a transmission wheel and belt.
This is the entire frame on which all the rack components have been joined to. It is usually made of various metal materials with the most common one being stainless steel.
· Electronic Circuit
This is usually a single-chip microcomputer that controls various aspects such as the sensors, the drive system, and many other automated functions. It is also responsible for the signal parameters and the automated counterfeit detection mechanisms.
Types of Currency Counting Machines (& How they Work)
You can get a very wide variety of Money Counting Machines that you can choose from depending on your cash-handling requirements. We have a precise look at some of the most popular varieties that you can find readily available in the market:
· Basic Note Counting Machine
They are the simplest and most straightforward machines available in the market. Their main purpose is basically counting currency notes with no additional features such as value counting or counterfeit detection included.
You load your currency bills in a pocket located on a rear-loading structure. They go through the machine after counting a verifying then arrange in a front pocket for picking.
They are mostly suitable for individual use or in small-scale businesses. They are usually a very simple and cost-effective way of counting your money.
· Advanced Note Counting Machine
This money counter has additional functionalities and features when we compare it to the basic money counter. Their mode of operation is similar to the basic bill counters and they can detect fake currency and carry out both batch counting and value counting.
They are mostly used in businesses that normally handle moderately huge amounts of money. They enhance the security of the transactions with improved efficiency.
· Mixed Denomination Note Counting Machine
This is the best option for your business if you are handling banknotes of different denominations or currencies. They have the ability to count and sort a variety of denominations at the same time.
They greatly reduce the amount of time you will require and your effort input. We normally recommend them for use in forex exchange offices and any financial institution.
· Coin and Note Counting Machine
We have businesses like casinos or amusement parks that deal with large volumes of coins and notes. These machines provide an all-inclusive solution by counting and sorting both notes and coins simultaneously.
They are mostly used in vending machines, various amusement parks with slots, and in casinos.
· Coin Counting Machine
These are money counters that specifically count coins only. Their mode of operation is similar to the basic note counters but with a slight variation in its structure.
It contains a coin plate that receives the coins and forwards them to the counting part. The coins are separated into denominations and then counted and dropped into a sack or container at the bottom.
· Portable Note Counting Machine
You may have business transactions in various locations with frequent movements. Your best option for such would be a portable note-counting machine that is compact and lightweight.
They are easy to carry around and are powered by a battery. They are convenient for mobile banking services and outdoor events that generate huge volumes of money.
New Technologies on Money Counter Machine
One of the very valuable traits you can find in your currency counter is its ability to detect fake currency. Counterfeit currency can negatively impact your profits besides ruining the reputation of your business.
Bill counters have various advanced technologies that can weed out fake currencies and save your business. Let us sample some of the common technologies and how they work:
· Ultraviolet (UV) Technology
Original banknotes normally have a security feature in ultraviolet ink containing fluorescent phosphors. They are embedded in the currency paper during minting and are not visible to the naked eye in broad daylight.
Cash Counting Machines come equipped with ultraviolet detectors that will make the original notes glow under them. This is the most common method of detecting counterfeit currency since it is effective and very affordable.
· Infrared (IR) Technology
Though not commonly used, some bank notes are printed using infrared ink as a counterfeit preventive measure. When placed under a currency counter having infrared sensors, the IR light will either be absorbed or reflected by this light.
· Magnetic Detection
When making banknotes, metallic threads can be woven on the banknotes or magnetic patterns made on the notes’ face. To the naked eye, you will see these magnetic patterns or threads just as the regular patterns.
Cash Counting Machines having magnetic detection technology can easily recognize the magnetic threads and patterns. Notes without such patterns and threads will be rejected by the machine.
· Watermark Detection
All banknote denominations contain watermarks as security features imprinted on them. These can easily be detected by an ultraviolet light when placed under it.
· Color Spectrum Analysis
When banknotes are being printed, each denomination has a unique ink pattern woven into them. We have modern Cash Counting Machines that have a spectrum sensor that uses spectrum analysis to detect fake currency.
The machine has various denomination magnetic images input in their memory. The machine compares the pattern on the scanned note with the image in its memory and rejects any counterfeit.
· Size Detection
The size specifications of banknotes when manufacturing them are usually unique in terms of their length, width, and thickness. Money counters can use a pair of pulsing LED transceivers to accurately measure the currency’s dimensions.
· Automatic Currency Identification (ACI)
This technology is only available in specific Cash Counting Machines. It gives the machine the ability to identify an individual denomination and its exact value in the process of counting.
It can achieve this by using sensors that analyze the traits of each bill in terms of its shape and size. They can alternatively use optical character recognition (OCR) by scanning images of the bills and comparing them with their database.
The infrared sensors can also be used to measure the thickness of these currencies. Any rejected banknote will not be allowed to pass through the machine.
Limitations of Money Counting Machines
In as much as your Cash Counting Machine serves you with efficiency and accuracy, it has its own fair share of shortcomings. Some of them include:
- They have a high initial cost with equally high maintenance costs in the event of a breakdown
- When currency size and features change, you may be required to reprogram your machine to accommodate the new data
Money Counting Machine Price Range
Cash Counting Machines are very accurate and precise meaning they may cost you a lot more than any manual technique. Based on the amount of currency that your business handles and the required features, the price range may vary from hundreds of dollars to thousands.
You should factor in whether a low-cost currency scanner may serve your business purpose or a complex counter with counterfeit detection works best. Compare the features and capabilities of each machine to get a clear picture of the cost of your requirements.
Where to use Cash Counting Machines
Cash Counting Machines have a very wide field of applications but with the same purpose, counting money. Let’s look at some of them:
i. In businesses and financial institutions to count and tally money as well as ascertain the authenticity of the transacted currencies
ii. They are also used in vending machines to check how much money has been inserted by the buyer
iii. Modern bank ATMs have the option of depositing cash without sealing them in an envelope. The money counters here are advanced enough to detect the actual banknote inserted in the machine
iv. Casinos and amusement parks count the large amounts of coins and banknotes inserted in the various recreational machines.
Can Money Counter Detect Counterfeit Bills?
Yes, besides just counting money, most have the ability to single out fake currencies during counting. They achieve these using methods such as magnetic technology, size and weight analysis, ultraviolet rays, and infrared light.
Are Money Counting Machines Accurate?
They are 100% accurate. We have modern machines that have error detection systems therefore the chances of making a mistake are close to none.
Most likely the machine will send you an alert in the event of an error, which is very rare. Bill counting software also assists in identifying accuracy problems before they occur.
In Case You Have Mixed Denominations, Can Cash Counting Machine Sort Currency?
You will require a currency counter that has mixed denomination value detectors. Such machines contain advanced imaging software that works together with color image sensors to single out each denomination.
What is the Average Speed of Bill Counting Machines?
The speed of a currency counter is its bill count per minute. The average speed varies with the model with the high-end ones achieving as much as 1500 bills or more per minute. The lowest industry-accepted average is 1000 bills per minute with anything below that not worth the investment.
Can Money Counting Machine Record Serial Numbers?
Yes, they can. However, they require very advanced software in order to read the serial numbers while counting the bills. They scan the unique serial number on each bill and record it as it passes the machine.
Do Money Counters have In-built Printers?
Yes, there are some Cash Counting Machines that come with a thermal printer. These types of printers transfer the ink to the printing paper using heat and do not require toner cartridges.
With the information in this guide, you can make an informed decision when choosing the right money-counting machine for your business.
We have also gone through the importance of verification of banknotes during counting and its accuracy and speed. With the appropriate currency counter, you are assured of a top-of-the-range financial record with accuracy and efficiency.