In the Philippines, a Teller’s entry level salary ranges from P9,000 - P13,000 per month. Overseas, such as in the U.S. & Canada, the monthly average salary for a Teller is $1,957 or $2,280 per month.
Basic Educational Requirement
The position of Teller is open to graduates of any four- year course and with at least six months experience in business and sales. A Sales and Marketing background is likewise a distinct advantage for candidates to the position.
Cost of Education*
There is no specific educational requirement to be a Teller. However, employers often prefer applicants with a bachelors degree particularly if one is applying in the banking and finance sector. A four year course in B.S. Accountancy cost around P20,000 to P45,000 per semester in a private institution while in a government-owned school, the tuition fee is only around P3,500 per semester.
Generally, opportunities for Tellers are expected to be favorable. Most job openings will arise from growth and from the need to replace the many tellers who transfer to other occupations.Tellers may be employed in the following industries: Wholesale and Retail Trade, Repair of Motor Vehicles, Motorcycles and Personal and Household Goods; Hotels and Restaurants; Transport, Storage and Communication; Financial Intermediation; Real Estate, Renting and Business Activities; Public Administration and Defense, Compulsory Social Security; Education; Health and Social Work; and Other Community, Social and Personal Service Activities.
Prospects for Career Advancement
This position usually does not offer very many opportunities for advancement within the bank. In order to become a banker, loan officer, or other higher ranking member of the staff, a teller would need to receive additional education/training.
Nature of Work
A Bank Teller is responsible for quickly and accurately processing routine transactions that customers conduct at banks. Routine transactions include cashing cheques and making deposits, loan payments, and withdrawals.
- Cashes cheques;
- Processes deposits and withdrawals from savings and cheque accounts;
- Receives installments on loan-purchase transactions; and
- Handles foreign exchange as well as traveler’s cheques.
Skills and Competencies
- Ability to communicate clearly;
- Must have tact and be mature;
- Must have numerical aptitude;
- Knowledgeable on the use of computer technology integration (CTI) systems;
- Ability to work exceptionally well in a team environment;
- Strong organizational skill; and
- Detail oriented.
Physical Attributes and Characteristics
- Must be courteous and polite;
- Service oriented;
- Must be neat and with pleasing personality; and
- Willing to work beyond normal working hours.
* Based on tuition fee rates for school year 2010-2011.