Although counting money may not be a problem most people have, it is certainly a huge undertaking for banks, governments, and financial institutions. Counting money by hand is time-consuming, exhausting, and arduous. Oftentimes, the money is counted two or three times to check for human error. Not only does the count have to be correct, the counters also have to check for counterfeit currency, which, in some ways, is much harder than counting money itself.
Fortunately, money counting machines with high speed scanners offer banks and businesses a new and improved way of counting money. First developed in 1980, currency machines electronically count bills and coins with ease and with 100% accuracy. No more will institutions have to worry about miscounting or filing errors. Currency counter machines also have the ability to check for counterfeit currency, a huge plus for banks and governments both.
Counterfeiting has been a problem for businesses and law enforcement ever since currency was created itself. During the Victorian Era, counterfeiting became a systemic problem when individual banks would issue its own money, confusing and bogging down the economic system at the time. Counterfeiting became so bad, in fact, that in 1965, a few months after the American Civil War ended, the U.S. Secret Service was created to go after counterfeiters. The agency still conducts counterfeiting investigations today, though it has famously expanded into protecting the U.S. president and government officials.
The Secret Service, just like many other law enforcement and financial organizations, have benefited immensely from currency sorting machines. Businesses and banks have saved considerable time and resources by using them. And by saving time, businesses can focus on other tasks and projects.
There are a number of other benefits to having a currency machines with high speed scanners but the main point is this: currency counting machines helps businesses and governments with checking for money and the money itself from fake notes.