Practical Banking (Classic Reprint)

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Excerpt from Practical BankingWhen money is deposited at a bank, it is placed either upon current account or upon deposit account. The former is the account upon which the customer Operates by drawing cheques according to his needs. Unless the balance standing to the credit of the customer falls below a fixed minimum it is not the general practice for a banker to make any charge for the accommodation granted. The latter is the account upon which the customer Cannot Operate except upon the terms agreed between himself and the banker. The money deposited is only obtainable after proper notice. Upon this money the banker pays interest to the customer, the amount of the interest being calculated according to circumstances. There is no fixed custom amongst bankers as to deposit accounts.AS already stated, the business Of discounting bills of exchange and promissory notes will be fully explained in a future chapter, and the whole question Of loans granted by bankers will be treated in detail in a chapter specially devoted to that subject.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.