7 Factors to Consider When Choosing a Money Counter Machine
In the last two decades, money counter machines have become an increasingly popular and essential tool for Banks, Credit Unions, Casinos, Retail, and countless other businesses. These machines have a reputation for drastically reducing counting errors relating to money and help ensure that accounts and books are accurate.
Money counter machines can save you a significant amount of time and resources since they count money at incredible speeds. But counting isn’t all these machines can do. They come packed with several other features that make them even more desirable among businesses.
Money counter machines are excellent investments for safeguarding against fraudulent or counterfeit bills and protecting your business’s bottom line. However, most buyers, especially first-time buyers, find it confusing to determine which money counting machine has the most relevant factors for their businesses.
That’s why we compiled a comprehensive list of the top seven factors to consider the next time you’re shopping for a bill counting machine. Here’s everything you need to know to help you identify which machine suits you and how much do a money counter cost:
The more features your money counter machine has, the more expensive it will be. Most basic bill counters are always affordable for most businesses. However, if you are looking for a more complex machine that can handle mixed denomination and multi-currency counting, you will have to invest a lot more. Some of the most basic bill counting machines retail for as low as $100 while the more advanced ones can be as expensive as $1,000 or more.
Critical features to look for when shopping for a cash counter machine include:
The counting speed of money basically means the number of bills counted by the machine per minute. One important fact to note is that counting speeds are adjustable and can range between 600 and 1,500 bills per minute. This is also reflected in their overall price as machines that have higher counting speeds are always typically more expensive. Fast and accurate machines are a necessity for any business that deals in large amounts of cash.
The most common feature is the batch function which allows users to predetermine how many bills the machine should count before it automatically stops. Essentially, this function is used to create stacks of equal number of notes and can be used along with the ADD function (add bills to an existing count without resetting the total number of counted bills) More advanced Machines offer the option to sort by Face (same side) or orientation (same side and direction).
Technological advancements have made it possible to manufacture currency counter machines that offer on-screen reporting showing the breakdown of count and value by denomination. As a result, these machines can aggregate values of banknotes while rejecting suspicious or fraudulent ones. This is a nice add-on, especially for businesses that deal with large stack of mixed bills.
It’s equally important to own a machine which allows you pull out a detailed on-screen report and print a receipt copy.
2. Hopper Capacity
This is the pocket-like structure where all unallocated bills are placed. The hopper capacity is one of the most essential features to consider when buying a bill counter machine since it helps to determine how much cash the machine can sort at any one time. Most businesses prefer to use counting machines with higher-counting front loading hoppers which are more convenient than back loading models.
Another critical fact to note is that some models tend to have higher feeder capacity than the carrier capacity. This means you can place more cash in the hopper than the tray for the counted cash can hold.
3. Mixed Denomination Value Count
As aforementioned, mixed denomination machines are always more expensive than the more standard bill counters. This is because they require more advanced features like contact image sensors (CIS) and better imaging software to help them determine the denomination of different bills.
These components must be top-of-the-line for them to work accurately and effectively, especially when you consider the counting speeds of these currencies.
Sorting mistakes tend to happen frequently. A $10 bill can easily end up in the $5, and find its way into a bill counter. If the bill counting machine doesn’t have the necessary features to distinguish between the different denominations, then you could just as easily lose $5. Mixed currency machines prevent this from happening.
Bill Counters with Value Count feature shows the total value of the counted mix stack of bills and can provide you a breakdown of each denomination counted.
Machines that have features to distinguish multi-currencies are excellent for businesses that deal with international clients. Fortunately, some money counting machines can accurately and effectively differentiate and organize different currencies while counting bills. Some machines also come with mix value count feature that allow users to count a mix stack of currency notes, thereby allowing them to classify between different forms of currencies and shows a breakdown of each counter currency.
5. Counterfeit Detection
Counterfeit detection is also another critical but optional add-on to consider checking in the bill counter machine you intend to buy. With an estimated $220 million in counterfeit cash in circulation, you would be wise to not just count the bills you receive but to inspect them too. Some of the main counterfeit detection features to check are the UV (Ultraviolet), MG (Magnetic), IR (Infrared), MT (Metallic Thread), size, and thickness detection features.
Some money counters detect fake money and are also equipped with Serial Number recognition systems that can read the serial numbers of every bill that runs through them; especially useful for tracing bills and for auditing purposes.
6. Reject Pocket
Currency counter machines come in one or two pockets. The ones with a single pocket usually stop counting whenever an unrecognized bill has been detected. The user must remove the bill before counting commences.
The machine with two pockets can automatically move unrecognized bills to the second pocket called the reject pocket and continue counting. But as with all other features, this continuous count add-on will cost you extra but will save you a lot of time. If you are looking for a high-end money counter which has all the features mentioned above take a look at our DETECK Edge DT800 2 Pocket Money Counter.
Warranties allow you to return any faulty machine to the manufacturer. Most currency counting machines come with warranties, which is great. However, the length of the warranty varies from one manufacturer to the other. It’s always advisable to go for bill counter machines with warranties of one year or more.
The Bottom Line
When choosing the best money counter machine, it’s always important to do your research ahead of the actual purchase. Ensure you are buying a machine that best suits your needs. While the least expensive machines might be cost-effective, they might not be the most reliable. Similarly, buying the most expensive models doesn’t guarantee you the best money counting and sorting experience.
As with almost everything else for sale, it’s always important that the buyer determines and sets aside a budget before shopping for a bill counter machine. Again, as with all other items, the higher the price, the better the product’s features and durability. Therefore, you can almost always expect the lower-priced counterfeit bill detectors not to be as reliable as the pricey, more functional, and versatile ones.