A Simple Explanation of Modern Banking Customs

by Humphrey Robinson

Copyright, 1909, 1910
By Humphrey Robinson

Entered at Stationers' Hall

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CONTENTS

		PAGE
I.	General Remarks	[9]
II.	The Choice of a Bank	[14]
III.	Opening a Bank Account	[17]
IV.	How to Deposit	[22]
V.	Your Account on the Bank's Books	[26]
VI.	Stopping Payment of a Check	[32]
VII.	How the Bank Collects the Checks you Deposit	[33]
VIII.	The Clearing House	[36]
IX.	A Certified Check	[49]
X.	Protesting Notes, Drafts, etc.,—why Necessary and how it is Executed	[53]
XI.	The Local Collection Department	[64]
XII.	The Loan Department	[77]
XIII.	New York Exchange	[99]
XIV.	The Method of Issuing National Bank Notes	[102]
XV.	The So-called "Special Privileges" of Banks	[109]

A SIMPLE EXPLANATION OF
MODERN BANKING CUSTOMS

I
GENERAL REMARKS

After some years of work in 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 satisfactory 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.

For ten years the writer was "in business." For an equal length of time he has been connected with a large city bank. He remembers his utter lack of comprehension of banks and their ways, and his consequent mistakes, perplexity, and embarrassment in dealing with them. Also the unfairness and prejudice with which he often judged them.

Recalling all this, he believes that, without giving offense, he can state these facts.