A Simple Explanation Of Modern Banking Customs

A Simple Explanation of Modern Banking Customs is a guide by Humphrey Robinson. It delves into topics such as choice of bank, opening a bank account, certified checks along with many other related issues.

Excerpt from A Simple Explanation of Modern Banking Customs After some years of workin a bank, it has been impressed daily upon the writer that, if the depositors were fully informed about the details of the conduct of banks, closer and more satis factory relations would result. Hence this attempt to explain, in a simple and concise way, avoiding as much as possible the use of technical terms, certain things that every depositor should know. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This 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.

"[...]other depositors. And he only received about fifty cents on the dollar when the bank's affairs were finally wound up. All because he did not insist on the purchaser of the land having his own check certified. If he had done this he could have held both the purchaser and the bank. By having your check certified, you practically exchange your check for one guaranteed by the bank. For example, the bank certifies your check for $100.00. It immediately charges your account with the $100.00, and credits its "certified check account" with $100.00. Then when your certified check comes back to the bank, through the person to whom you delivered it, the bank charges its "certified check account" with $100.00, and the transaction is closed. Therefore, if, for any reason, you decide not to use a check after you have[...]".

Excerpt from The Modern Bank: A Description of Its Functions and Methods and a Brief Account of the Development and Present, Systems of Banking The main purpose of this volume is not to set forth or discuss theories and principles, or to give a history of banking or an account of different systems, but to describe in plain terms the various functions of the present-day bank in the United States and the methods by which its work is done. It is intended to give as clear an idea as possible of what an up-to-date bank does and how it is done. For this it is necessary to take what may be regarded as a typical bank and deal with its mechanism and methods, as all others will be only variations upon it, and it would be confusing to attempt an explanation of differences of detail. A large commercial institution with a full variety of banking operations in the financial center of the country has been taken as the model, and what it does and the manner of doing it fairly represents or suggests the business and methods of banks in general. While this has been the purpose of making a new book on an old subject, it has seemed best to lead up to it with some preliminary chapters *on elementary principles and general methods, and to follow it with a rapid sketch of the development of banking and of existing systems, in order to make the volume fairly complete. Some chapters are also given on such subsidiary topics as trust companies, savings-banks, private banking-houses, foreign exchange, safe-deposit companies, etc. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This 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.

Modern bank insurance is traced to its roots in The Chinese Cornerstone of Modern Banking: The Canton Guaranty System and the Origins of Bank Deposit Insurance 1780-1933. Frederic Delano Grant, Jr. provides new understandings of the Canton System, collective responsibility for debt at Canton, and the history of deposit insurance. The Canton Guaranty System inspired radical reform in New York in 1829 – the ancestor of all modern deposit insurance. Yet it was never the success imagined, and soon failed. In the Opium War, the Chinese government as implicit guarantor was forced to pay its debts in full on 23 July 1843. The afflictions of the Chinese system, including moral hazard, too big to fail, and unenforced laws, remain familiar today.

This book looks at the UK banking in the context of general legal doctrines and banking regulation. It draws on Australian, US and Canadian examples and deals with the impact of the recent global financial crisis.