What is a teller?

A teller works behind the counter at a financial institution, greeting customers as they come in to handle financial transactions. Most of the transactions they process are routine tasks that don’t require an appointment or specialized knowledge. The tasks bank tellers perform may include:

• Depositing money into accounts
• Helping people withdraw money
• Opening accounts
• Cashing checks
• Answering questions about accounts
• Resolving problems
• Ordering checks
• Recording transactions
• Counting money in the drawer
• Exchanging money for foreign currency

What is a banker?

Bankers also process financial transactions, but they typically work on more complex tasks. Sometimes called personal bankers or relationship bankers, these positions focus on building customer relationships. They often work one-on-one with clients during scheduled appointments where they can get to know the person and their needs. From there, they recommend financial products and solutions that benefit the individual. Examples of banker job duties include:

• Explaining and recommending financial products
• Opening financial accounts
• Selling financial products
• Looking into complicated issues or complaints
• Finding solutions for problems
• Maintaining account information

Overlap between the roles

Both tellers and bankers process various financial transactions for the bank’s clientele. Some of those transactions are similar, including setting up new accounts and resolving issues. They also both use customer service skills to ensure a high level of satisfaction.

Differences between a banker vs. a teller

Understanding the differences between a relationship banker vs. a teller can help you determine which role better meets your needs. Bankers typically have advanced job duties and work more closely with customers than tellers do.
Here are more details on the differences in banker vs. teller roles.

Job qualifications

Teller roles usually don’t require a college degree or previous training. Tellers learn on the job, but you might prefer candidates who have previous customer service or money-handling experience.
Likewise, bankers don’t typically have a standard required education. However, depending on the role, you may prefer candidates who have a bachelor’s degree in business, finance or a related field. It’s possible to earn banking experience in another role, such as sales, and advance into the banker role without a degree. Knowledge of a wide range of financial products is essential for bankers to do their jobs well.

Skills

Both bankers and tellers use customer service skills. In a banker position, those skills are valuable in building relationships with customers. Strong communication and active listening are a major part of that. Emotional intelligence helps a banker understand what consumers need and how to appeal to them emotionally. Tellers use customer service skills when helping customers open bank accounts or withdraw money from their accounts.

Because of the advanced nature of their duties, bankers need critical thinking and problem-solving skills to succeed. Bankers can also benefit from sales skills, as they work to sell their clients on new financial products to bring in more business. After talking with the individual about their goals, they need the critical thinking skills to choose products that help them reach those financial objectives. Financial and math skills are important for both roles, but bankers benefit from having an understanding of topics such as interest and investments to offer sound advice to individual customers.

Salary

The average salary of a bank teller is $17.70 per hour, according to Indeed Salaries. A banker makes a little more at an average of $20.48 per hour. Pay rates vary based on the location of the financial institution and the qualifications of the selected candidate.

Work location

While both roles work in a bank, their location within the bank is often different. Tellers typically stand behind the main counter, so they’re highly visible when someone walks into the building. This allows for a quick greeting.
Bankers usually have their own cubicles or offices within the bank. This allows for privacy as they work with customers. Appointments with bankers typically take longer than a basic transaction with a teller, so the office space creates more comfort for those longer conversations.

Scope of responsibilities

The complexity of the tasks each role completes is a significant difference between teller vs. banker positions. Tellers process routine, simple transactions that follow basic processes established by the institution. For example, tellers may learn how to open a new account and cash checks using a set of well-defined steps.

Bankers handle duties with greater complexity, such as assessing a person’s financial situation to make customized product recommendations. They often work with advanced financial products beyond basic savings and checking accounts. Bankers might have more authority to resolve issues with clients’ accounts. They also tend to work with other financial professionals, such as loan officers.

Relationships with customers

Tellers are often the first to greet customers, even if they have an appointment scheduled with a banker. They focus on providing quick assistance to consumers.

Bankers want to build relationships with specific clients. They might call your clientele to set up appointments or offer new financial products. Customers might reach out to their bankers when they need additional help or want to explore new products.

Teller vs. banker: Which should you hire?

If you need to expand your team but aren’t sure what role you need, use these factors to decide between a teller vs. a banker:

• Current staffing: Evaluate how well your current bankers and tellers manage the workload. If one area is short-staffed regularly, focus your hiring efforts there.
• Goals: Consider whether your goal is to serve people quickly and effectively or build lasting relationships.
• Consumer needs: The preferences of your client base can weigh in on the decision. If your walk-in customers experience longer wait times, you might consider hiring additional tellers. If customers are looking to learn about personalized service or new products, you might add a banker to your team to help.

When to hire a teller

Consider hiring a teller if:

• Wait times for walk-in customers are long.
• You’re frequently short-staffed on tellers.
• You experience high volumes of foot traffic at your establishment.

When to hire a banker

Hiring a banker could be the right solution in these situations:

• You want to increase sales of financial products.
• Your current bankers’ schedules are consistently full for several days or weeks.
• You want to improve relationships with your customers.
• You need an employee with knowledge of advanced financial products.
• You don’t have any bankers on staff.

FAQs about banker vs. teller

Can a teller become a banker?

Yes, a common career path is transitioning from a teller into a relationship banker role. Other options include becoming a head teller or a supervisor. Some employees opt to move into the loan department or other services within the bank.

Call tellers and bankers handle each others’ duties?

Your bankers might be able to step in and help tellers during peak business hours. Tellers may not be able to fill in for bankers as their scope is more tailored to the individual customer and their needs. Hiring enough staff for each role ensures your employees mainly handle their own job duties. This allows everyone to use their skills fully and perform the duties they want to do, which can help keep morale high.