According to the Federal Reserve Bank Service, banks are required to bundle currency in 1,000 note bundles of the same denomination. Each bundle contains 10 banded straps of 100 notes. The straps in the bundle are secured by two tight rubber bands or zip ties.
The Federal Reserve Bank Service notes that when securing a bundle it is important to make sure that the straps are held tightly but not so tightly that it damages the notes. Each strap must be secured with a band that identifies the denomination of the notes and the total value of the notes. For instance, a $1 band will identify the denomination ($1) and the total value of the strap, $100. The band on each strap should be secured with a black ink bank stamp that identifies the bank, branch, routing number, date and teller who prepared the strap.