Bank Teller Job Description & Career Opportunities

Bank tellers are the front line of customer contact for financial institutions. Becoming a teller is an entry level position in the banking industry and tellers often move on to other financial services jobs.

Tellers are required to handle a variety of financial services and must have strong customer service skills. They need to maintain high levels of accuracy and security even when their jobs are routine and repetitive.

As an entry level job, working as a teller can be a stepping stone to higher level and better paying banking positions. With additional training and education, tellers can become lending officers, credit analysts or personal bankers. They also can go into related fields such as mortgage banking, investment banking or accounting.

The job outlook for bank tellers is favorable as banks open more branches and current tellers move to other jobs, according to the U.S. Bureau of Labor Statistics. Tellers constitute the largest number among approximately 2 million employees in the banking industry, but the number of teller jobs is expected to grow more slowly than other occupations. In 2008, there were 600,500 bank tellers in the U.S. and the number is expected to increase to 638,000 by 2018.
Bank Teller Job Responsibilities

Bank tellers must process financial transactions with a high degree of accuracy. They must be meticulous, security conscious and pay attention to details. Tellers must be able to communicate effectively with customers and inspire confidence that they are skilled enough to take care of customer assets and needs.

Besides handling deposits and withdrawals, tellers also change money, cash checks, sell traveler’s checks and money orders and collect loan and utility bill payments. Tellers also may be called upon to sell other bank services to customers.

Despite the increasing popularity of online banking, many banks are opening additional branches in grocery stores and shopping malls. Working hours for bank tellers in a traditional branch usually are weekdays, some evenings and Saturday mornings. Store and mall branches often have extended hours that may involve more weekend and evening work.
Bank Teller Training and Education Requirements

A high school diploma and a criminal background check are required for most bank teller jobs. On-the-job training is provided by the bank under the supervision of an experienced employee and sometimes with classroom instruction.

Some math skills and the ability to count money are needed for tellers to accurately process transactions. Tellers must be able to complete calculations and work with computers. They must have excellent communications skills, enjoy working with the public and be able to handle large sums of money comfortably.

Although bank teller jobs don’t require college courses, many higher level bank jobs require at least a bachelor’s degree with courses in accounting, economics or finance. Tellers who want to advance need more education beyond high school.
Bank Teller Salary and Wages

Wages for bank tellers generally are lower than for other financial services jobs. In 2008, the median annual wage for bank tellers was $23,610.

Wages can vary depending on the size of the city. Tellers in a large city can earn starting wages of $10 to $12 an hour while those in smaller cities may start at $8 to $10 an hour. The highest hourly rates are in cities along the East and West coasts. The nation’s largest banks such as Bank of America and Wells Fargo pay their tellers from $9.80 to $11.85 an hour.
Bank Teller Certifications

Tellers with at least six months of work experience can take an examination to become certified by the Institute of Certified Bankers, which is affiliated with the American Bankers Association. The exam covers banking procedures, ethics, operations, sales and service. Certification costs $50 and requires that tellers sign a code of ethics.

To maintain certification, tellers must complete six hours of education every three years and pay an annual fee
of $25.

Certification that meets the institute’s requirements is offered by taking courses through the American Institute of Banking, which also is affiliated with the American Bankers Association. Tellers who complete the courses receive the AIB Bank Teller Certificate.

Some banks offer their own certification training and colleges also offer courses to qualify for the certificate.
Bank Teller Professional Associations

The primary professional association for bank employees is the American Bankers Association, which was founded in 1875 and is based in Washington, D.C. Its members include banks of all sizes and lobbying is one of the association’s major activities.

The American Institute of Banking provides educational programs to more than 150,000 bank employees each year, including teller certification.

Other banking associations include the Bank Administration Institute, an 80-year-old organization that offers education and research, and the Mortgage Bankers Association, which provides education and advocacy for the real estate finance industry.

State and local bankers associations also provide educational programs, lobbying and social activities.