Having assured himself that the bearer of the book is the right person, the teller takes a receipt in a book kept for the purpose, for the amount, enters the same on the right hand or debit side of the book, and hands out the money.
There is a form of authorization for another to draw, printed on the deposit book. This must be copied and its directions complied with.
Most banks will not allow depositors to draw out less than a fixed sum, say $5.00.
This saves trouble, and prevents thoughtless depositors from going to the bank every time they want a dollar.
Before a depositor can draw a large sum from a savings bank he may be compelled, under the law, to give from one week to six weeks' notice of his intention.
This provision may not prevent a run on the bank, but it gives the managers time to provide for it.
Read the rules in the deposit book.
HOW SAVINGS BANKS EARN
How can a bank that does not discount notes or deal in loans and commercial paper earn money? How can it pay interest?
While they may be individually small, the aggregate of all the deposits in a savings bank may, and often do, amount to many millions.