Growth Trends for Related Jobs
A foreign exchange cashier may work for a bank or an insurance company conducting business globally. A cashier also may be employed by a business engaged in export and import activities, or one that typically deals with foreign business partners. A cashier job typically requires a high school diploma.
Ensures Accurate Currency Transfers
A foreign exchange cashier usually works for a bank engaging in international transactions. This employee receives business partner payments in foreign currencies and ensures they are correctly converted into U.S. dollars. Similarly, a cashier reviews a bank's U.S. payments and ensures accurate amounts are sent to foreign customers. For instance, a foreign exchange cashier working for a New York-based bank may review payments from a U.K.-based insurance company and ensure correct amounts are received and the exchange rate between the U.S. dollar and the U.K. pound is accurate.
High School Education
This career typically requires good business acumen and a high school diploma. An employee without a college degree may receive practical training before working. Some cashiers may hold an associate degree in a business field. Additionally, excellent language skills may be a plus, especially if the cashier assumes several responsibilities and frequently deals with foreign business partners.
Hourly salaries for foreign exchange cashiers typically depend on experience, company size and location. Compensation also may be affected by length of service and academic training. According to the Bureau of Labor Statistics, the median annual salary of cashiers was $18,970 in 2012. However, the typical annual salary of a teller, which closely resembles foreign exchange cashiers, is $24,490.
An employee may increase chances of promotion by enrolling in a college undergraduate program and receiving a bachelor's degree in a business field. A cashier may also increase career growth opportunities by taking night courses and receiving a professional certification, such as the certified bank teller designation. The job outlook for tellers and cashiers is very low, but as global exchanges increase, there will be more of a need for foreign exchange cashiers.
A foreign exchange cashier usually works a standard 8 a.m. to 5 p.m. shift. However, instances may occur in which a cashier may need to work late nights or early mornings to accommodate a client. For instance, a foreign exchange cashier at a New York-based global bank may need to stay in the office late to discuss money transfer requirements with a colleague working in the bank's Tokyo office.
Marquis Codjia is a New York-based freelance writer, investor and banker. He has authored articles since 2000, covering topics such as politics, technology and business. A certified public accountant and certified financial manager, Codjia received a Master of Business Administration from Rutgers University, majoring in investment analysis and financial management.
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