Everybodys Guide to Money Matters | Page 8

annum, on 14 days' notice of | |
withdrawl. | | | | Entered - J. Hill T. Dale, Manager. | | |
--------------------------------------------------------(and, written across the
receipt "Not transferable")
If the money is at any time wanted in a hurry, banks do not insist upon
notice being given to withdraw, but deduct the days of notice from the
time the interest note has run. For instance, if the money has been
deposited for 184 days, the 14 days of notice will be deducted and
interest allowed on 170 days only. These receipts or notes are not
transferable, and the repayment of the principal or the interest must be

applied for by the owner either personally or by letter.
Money may be deposited in a bank in two names and be repayable to
both conjointly, by either separately, or to the survivor of the two. The
bank will require a form to be signed by both parties, specifying the
manner in which it is desired that the money may be deposited. By
giving directions, too, the principal may be retained in the name of one
person and the interest paid to another. Some banks adopt the plan of
book deposits, that is, the amount paid in is entered in a pass-book, and
the interest credited half yearly. This may go on accumulating, or it can
be drawn out in one sum only, not as in the case of a current account by
cheques of various amounts.
Having thus established relations between Miss Smith and her bankers,
let us see at the end, say, of a month, the state of her pass-book,
premising that in the meantime she has received and paid into the bank
some moneys, and also signed and sent cheques to some of her
tradesmen:
-------------------------------------------------------------------------------| || | |
THE BLANKSHIRE BANK. || BLANKTOWN, | | || | | Dr. to Miss Jane
Smith. || of Blanktown. Cr. | | || |
|--------------------------------------||--------------------------------------| |1897|
| | £ |s.|d.||1897| | | £ |s.|d.| |June|24| To Cash . . |500| 0| 0||June|24| By
Self . . | 10| 0| 0| | | | | | | || | | | | | | |July| 8| " Dividend Consols| 11| 4| 6|| " |
"| " Tucker . . | 23|10| 0| | | | | | | || | | | | | | | " |23| " Rent from Cook | 24|10|
0|| " |26| " Deposit receipt |300| 0| 0| | | | | | | || | | | | | | | " |25| " G.W.R.
dividend | 30| 0| 0||July| 1| " Figges . . | 8| 3| 4| | | | | | | || | | | | | | | | | | | | || " |
3| " Jones . . | 5|10| 0| | | | | | | || | | | | | | | | | | | | || " |24| " Self . . | 10| 0| 0| | | |
| | | || | | | | | | | | | Total £565 14s. 6d.| | | || | | Total £357 3s. 4d. | | | | | | | | | |
|| | | | | | |
------------------------------------------------------------------------------- By
the entries in the pass-book it will be perceived that £565 14s. 6d. has
been paid into the bank, as appears on the left-hand page, and that £357
3s. 4d. has been drawn out, as appears on the right-hand page. The
balance or difference between the two, amounting to £208 11s. 2d.,
remains to the credit of Miss Smith.

In this comfortable state of things we will leave Miss Smith, who can
now claim to consult her banker in matters of business.
He will be able to offer her facilities in various ways. He will hold for
her, in safe custody, any deeds or securities; and whilst she is absent
from home will take charge of her plate or valuables, free of all
expense. If she is travelling about the country he will arrange so that
her cheques on the Blankshire Bank may be cashed at any other bank in
the kingdom. If she has occasion for it he will send money on her
account to some other person's credit at any bank in the kingdom or the
civilised world. If she desires to travel abroad, he will obtain a passport
for her and provide her with "circular notes," which may be turned into
money at any place she is likely to visit.
He will buy and sell stocks, shares, annuities, &c., for her, and collect
dividends, interest, coupons, &c., payable anywhere at home or abroad.
He will cheerfully advise her on all matters connected with money, and
it will