Despite the economy’s leap into the digital age, most businesses still rely on cash for smooth operations. Some customers and vendors still prefer to make payments through cash. And it leaves businesses with no other option but to manage large cash volumes.
The two primary challenges of cash management are the accurate counting of notes and the detecting of counterfeit currency. In fact, 2,30,971 fake Indian currency notes were detected in the banking system in the fiscal year 2021-22 alone. And this doesn’t even account for all the fake bills that went undetected.
What do businesses like you should do in such a situation?
It’s simple. Get a reliable currency counting machine with a fake note detector!
In this article, we discuss why you need cash counting machines for counterfeiting bills, how they work, and what are the best cash counting machines you can get.
Why do you need cash counting machines with counterfeiting detection technology?
The governments across the globe continue making efforts to curb the menace of fake currency. However, counterfeiters also keep coming up with new variations of fake currency. It’s next to impossible for you and your employees to keep track of all the new versions of fake currency.
And even if some of them get good at identifying fake notes, you can’t expect them to manually inspect each currency note that comes to your business.
Another challenge when it comes to managing cash is to stay updated with old and new currency forms. In India, multiple versions of 100, 50, 20, and 10 INR notes are in circulation. The situation presents scammers with the opportunity to make even more fake bills. Since most businesses don’t take up the hassle of examining the validity of lower denomination notes, counterfeiters can easily cash-in on the opportunity (pun-intended :)).
While fake cash detection is a significant challenge, let’s also remember the other stressor of manual cash management- currency counting.
Humans can and do make errors. And it stands true even when they are counting bills. If your business has a significant physical currency flow, you should not rely on manual ways for cash counting. It can lead to some serious accounting issues later.
And let’s not also forget all the time it takes to count and inspect notes manually.
The solution: Currency counter with fake note detection
A currency counting machine with counterfeit detection technology alleviates you and your employees from a lot of stress. It will save your business from much potential financial loss and set it up for success in the future.
A currency counting machine with a fake note detector employs various ways to detect fake currency. The two primary ways are UV counterfeit detection and magnetic counterfeit detection.
In the UV counterfeit detection method, the machine throws ultraviolet light on the note to detect marks made using non-visible ink. Currency notes often have marks of authentication imprinted on them that are only visible under UV light. UV detection method checks for such marks during the inspection. It’d be deemed fake if the required mark doesn’t glow on the note upon shining UV light.
Just like non-visible ink, cash bills are also often marked with magnetic ink or magnetic threads. These are placed at key locations on the bill. Machines equipped with magnetic counterfeit detection tech leverage the magnetic identifiers to ensure authenticity.
Apart from these two methods, cash counting machines for counterfeiting bills also measure the dimensions of the note, including thickness.
If you consider the currency counting aspect of the machine, it also brings various benefits for the business.
Benefits of a currency counting machine
1. Time-saving: It can quickly count high volumes of cash, facilitating smoother business operations.
2. Accurate: You can rest assured that the cash counting machines will give the correct count each time. This prevents accounting errors.
3. Security: With a cash counting machine in the picture, you can minimize the time and number of humans that handle cash, thus increasing security.
4. Cost-saving: With many operations automated, a cash counting machine saves you a lot of labour costs in the long run.
TVS Electronic is one of the pioneers and market leader in Cash Counting Machines
It’s a no-brainer that a currency counting machine with a fake note detector is essential for any business. But not all cash counting machines are the same. Since cash management is at play, you must acquire it from a reputable manufacturer.
The machine needs to be precise and reliable at every instant. Here are some of the best cash counting machines you can get.
1. CC-232 Classic: Equipped with automatic cash detection, this machine can count notes at the speed of 1200 notes per minute. It can easily support your fast-moving operations and is ridiculously simple to maintain.
2. CC- 453 Star: Specially made for Indian users, this machine is ideal for managing INR. It provides an exceptional user experience and has a big front and side display capable of supporting four-digit numbers. It also comes with batching and self-examination features making it a sweet deal for any business
3. CC 453 Star+: This compact and reliable cash counting machine can easily support heavy duty operations. Equipped with UV and magnetic fake note detection features, it is one of the most advanced machines for counting cash.
4. CC 232 Classic+: This is an automatic, reliable, professional currency-counting machine with advanced technology and precise sensors for fast cash counting. Its UV and magnetic radiation detect counterfeit notes with LCD red alerts and can also count old and new currencies. In addition to batching, adding, and self-examining functions, it has automated start, stop, and clear.
Cash counting machines with advanced counterfeit detection technology are essential for businesses that deal with cash regularly. These machines can save time, reduce errors, and detect counterfeit currency precisely, reducing the risk of financial loss due to fake currency.
TVS Electronics has been making electric and IT peripherals for businesses for nearly three decades. Our unmatched commitment to quality and service is reflected well through our products.
Our cash counting machines combines speed and precision with counterfeit detection and authentication. They are easy to maintain, and most importantly, don’t burn a hole in your pocket. Check out our range of cash counting machines with fake note detectors now.