BANKING DEPARTMENT
SITUATED IN HARRODS’ ROYAL EXCHANGE.
CURRENT ACCOUNTS—Current Accounts are opened for Shareholders and Customers or friends introduced by them.
Interest at the rate of 2½ per cent. per annum free of Income Tax is allowed upon the minimum monthly balance, provided it is not under £20, and such interest is credited annually in the first week in January.
No Commission charged for keeping Accounts, but the opening lodgment must not be under £20, nor the minimum balance less than £10.
Cheques are made up in books of 30, 60, 100, and 120, and will be charged to clients at the actual cost of stamps—viz.:— 2/6, 5/0, 8/4, and 10/- respectively.
Pass Books will be made up weekly or otherwise to suit clients, but in all cases should be returned every quarter-day for comparison with the Ledgers.
DEPOSIT ACCOUNTS.—Money is received on deposit in sums of not less than £5, nor more than £300, subject to seven days’ notice of withdrawal.
Interest free of Income Tax is allowed from date of deposit to date upon which withdrawal notice expires, and is paid half-yearly—viz., 30th June and 31st December.
The Directors reserve to themselves the power to return deposits or change the rate of interest upon giving one month’s notice.
Any change of address should be notified to the Manager of the Banking Department to ensure the interest being remitted direct.
Deposit Accounts may not be drawn upon by Cheque; but at any time a sum may be transferred to Current Account upon receipt of Deposit Note with the necessary instructions written thereon, duly signed by the Depositor.
Country or other drafts will be received and placed to credit of account when realised, without charge for clearing.
Dividends, Annuities, Pensions, etc., received and placed to credit of account or remitted as may be arranged.
Circular Notes and Letters of Credit obtained.
BILLS FOR COLLECTION.—The collection of Bills on London and Provinces, either Clean or Documentary, is undertaken on the following terms:—
A Commission of 1¼ per centum, which covers all ordinary expenses of collection and remission, but a Minimum of Two Shillings and Sixpence is charged on small Bills of £10 and under.
Bill Stamps, Notarial Expenses, &c., extra if incurred.
Instructions should accompany Drafts as to procedure in case of non-payment.
STOCKS AND SHARES.—For the convenience of Shareholders and Customers the Directors have arranged for the Manager of this Department to afford all necessary information as to prices of Shares to intending Buyers or Sellers, and to transact business on their behalf with the Company’s Brokers, the terms for which will be forwarded on application to the Manager of the Department.
Remittances may be made by Cheque, Bank Notes, Postal Orders, or Coin, but should in all cases be registered.
A personal interview is desirable in the opening of an account, but this formula may be dispensed with by filling up the form provided for the convenience of Customers residing at a distance from the Stores, which will be forwarded on application.
Banking Hours: Nine to Six. Saturdays: Nine to One.
Posts & Telegraph office
Situated near the Banking Department and Chief Cashier’s Office in HARRODS’ ROYAL EXCHANGE.
Customers may send Telegrams from and have their Letters addressed to the Royal Exchange.
NOTICE.—An Appointment Board is hung in the Royal Exchange to enable Customers to leave Notes for their Friends. The Royal Exchange is such a recognised rendezvous that this proves a very convenient and much-appreciated innovation.
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