How Much Do Bank Tellers Make on Average (Salary)
How much do bank tellers make? What's the average salary of a bank teller? Customers' initial point of contact with bank tellers is usually when they walk inside the bank. Customers' identities are verified, and requests for deposits and withdrawals from patron accounts are processed by tellers. Customers' requirements are used to create certified checks and money orders. Some tellers are able to convert dollars into other currencies.
What is a bank teller?
A teller is a person who works for a bank and is in charge of completing ordinary financial transactions correctly. Cashing checks, depositing money, and collecting loan payments are all examples of these transactions.
Bank teller roles are among the most visible in any bank or credit union. Each bank customer interacts with a teller at some time, whether it's to withdraw cash or deposit them; this implies that customer service skills are critical in keeping customers satisfied.
What does a bank teller do?
Tellers usually do the following tasks:
- Counts the cash in their drawer at the beginning of their shift.
- Accepts cheques, cash, and other forms of payment from customers.
- Responds to customer questions about their accounts.
- Prepares specialized types of funds, such as traveler's cheques, savings bonds, and money orders.
- Exchanges dollars for foreign currency.
- Orders bank cards and cheques for customers.
- Handles processing transactions for customers.
Tellers are in charge of ensuring that the money they handle is handled safely and accurately. They must verify the customer's identification and ensure that the account has sufficient funds to support the transaction before cashing a check. A teller must be careful not to make any mistakes when counting currency.
Tellers also look for clients who could be interested in purchasing additional financial goods or services from the bank, such as certificates of deposit (CDs) or loans. Tellers explain the bank's goods and services to customers who appear to be interested, then send them to the proper sales people.
Tellers at most banks use computer terminals to record account changes, giving them fast access to the customer's financial information. This information can also be used by tellers when suggesting a new product or service.
Teller activities are managed by head tellers. They perform the same duties as normal tellers, as well as certain administrative duties such as scheduling shifts and assisting less experienced tellers. Head tellers can be able to deal with challenging client issues as a result of their experience, such as a customer contesting an account mistake. Head tellers also travel to the vault (where bigger sums of money are kept) to verify that the rest of the tellers have enough cash to last the duration of their shift.
How much do bank tellers make?
The bulk of bank teller salaries now vary between $24,000 (25th percentile) and $31,000 (75th percentile), with top earners (90th percentile) making $35,000 per year across the United States. The typical salary range for a bank teller is wide (up to $7,000), implying that there can be several chances for promotion and improved compensation based on skill level, location, and years of experience.
Average bank teller salary by state
National average salary for bank tellers by state:
- Alaska: $28,292 per year.
- Alabama: $23,986 per year.
- Arkansas: $24,580 per year.
- Arizona: $24,753 per year.
- California: $31,030 per year.
- Colorado: $29,600 per year.
- Connecticut: $31,500 per year.
- District of Columbia: $34,420 per year.
- Delaware: $30,430 per year.
- Florida: $32,140 per year.
- Georgia: $30,250 per year.
- Guam: $24,360 per year.
- Hawaii: $29,154 per year.
- Iowa: $25,776 per year.
- Idaho: $26,390 per year.
- Illinois: $29,198 per year.
- Indiana: $24,233 per year.
- Kansas: $23,519 per year.
- Kentucky: $27,770 per year.
- Louisiana: $27,610 per year.
- Massachusetts: $32,860 per year.
- Maryland: $32,090 per year.
- Maine: $29,700 per year.
- Michigan: $30,150 per year.
- Minnesota: $29,580 per year.
- Missouri: $26,670 per year.
- Mississippi: $26,700 per year.
- Montana: $28,400 per year.
- North Carolina: $31,240 per year.
- North Dakota: $30,500 per year.
- Nebraska: $28,590 per year.
- New Hampshire: $29,610 per year.
- New Jersey: $32,020 per year.
- New Mexico: $26,950 per year.
- Nevada: $29,490 per year.
- New York: $31,680 per year.
- Ohio: $28,340 per year.
- Oklahoma: $25,130 per year.
- Oregon: $30,190 per year.
- Pennsylvania: $29,933 per year.
- Puerto Rico: $19,880 per year.
- Rhode Island: $30,310 per year.
- South Carolina: $29,960 per year.
- South Dakota: $27,170 per year.
- Tennessee: $27,530 per year.
- Texas: $27,056 per year.
- Utah: $27,200 per year.
- Virginia: $30,710 per year.
- Virgin Islands: $25,280 per year.
- Vermont: $30,170 per year.
- Washington: $32,970 per year.
- Wisconsin: $28,490 per year.
- West Virginia: $25,110 per year.
- Wyoming: $28,600 per year.
Information provided by the United States Bureau of Labor Statistics (source).
Wages per week
The national average is $540 per week.
Wages per month
The national average is $2,344 per month.
Wages per hour
The national average is $14 per hour.
Requirements to become a bank teller
Financial institutions, such as Wells Fargo, have stringent recruiting criteria. Applicants must be at least 18 years old, have a high school diploma, and have at least one year of customer service experience. Prior banking expertise might also be advantageous.
Tellers work at bank branches the majority of the time. They work behind a glass barrier at a computer station and communicate with consumers. By relocating the teller station or removing the glass barrier, several banks are experimenting with novel models that allow the teller to connect with customers more personally.
Wells Fargo employees praise the company's excellent work-life balance, solid career prospects, and helpful perks. Work environment can vary based on the bank.
Similar job titles and salary
- Lead teller: $31,356 per year.
- Head teller: $36,809 per year.
- Loan officer: $152,567 per year.
- Branch manager: $58,515 per year.
Teller employment is predicted to decline by 15% between 2019 and 2029, according to the Bureau of Labor Statistics. Due to the necessity to replace retiring tellers and those who left to work in other areas, jobs can become available. More banks building branch offices can result in job growth in this area. However, as technology advances, some of the activities performed by bank tellers can be automated, reducing the demand for additional bank tellers.
Bank tellers compute and record incoming and outgoing cash for banks using mathematical abilities. They must also obey laws and regulations, conduct clerical labor, and check client identity to prevent fraud. A high school diploma and training are all that is required to become a bank teller; nevertheless, the need for bank tellers is decreasing, and new tellers are needed as existing tellers retire or go on to other jobs.
Career path of a bank teller
The career paths of bank tellers are often step-by-step upwards. Senior cashiers, supervisors, and managers, as well as head tellers, are next in line. Although there are chances for tellers to advance in the banking industry to other roles. Head tellers are in charge of a group of bank tellers. They execute management obligations in addition to doing some of the same activities. For example, keeping track of hours worked, setting together work schedules, and dealing with tough or demanding clients.
Common questions from job seekers:
How much do bank tellers make hourly?
In the United States, the average hourly wage for a bank teller is $13.52.
Which bank pays tellers the most?
Here are the banks that pay bank tellers the most:
- Investors bank: $18.22 per hour.
- Frost bank: $17.68 per hour.
- People's United Bank: $17.64 per hour.
- KeyBank: $17.22 per hour.
- Teachers Federal Credit Union: $16.64 per hour.
Here are the cities that pay bank tellers the most:
- Los Angeles, CA: $15.58 per hour.
- Austin, TX: $14.33 per hour.
- Chicago, IL: $13.65 per hour.
- Las Vegas, NV: $13.60 per hour.
- Brooklyn, NY: $13.56 per hour.
Is a bank teller a good job?
Becoming a teller can serve as an entry-level role in banking, allowing you to move up to higher-paying positions in the financial services industry. This is, however, an exception rather than the rule. Few teller applicants are really considered for advancement by their existing employers.
Easy to find work
Fortunately, teller jobs aren't difficult to come by. There are banks everywhere, so you should be able to find one within a reasonable driving distance of your home.
This is a fantastic profession for parents since you can bring the kids to school or a babysitter before work, then pick them up and enjoy supper with them. Although some larger banks have chosen to stay open longer in recent years, many banks and credit unions continue to provide convenient hours.
Most banks provide medical, dentistry, and vision insurance, as well as a 401k, sick time, and two weeks of paid vacation per year to their employees. Many provide tuition help as well as stock options. Plus, you get paid time off for every federal holiday!
What's the difference between a head teller and teller?
Check cashing, withdrawals, deposits, and loan payments are just a few of the financial operations that a head teller supervises. Assists tellers with more difficult jobs, authorizes exception transactions, backs up tellers, and performs teller responsibilities as necessary. Typically, a head teller oversees a teller line.
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