banking


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banking

the business of receiving deposits from the public or via the financial markets, with the object of on-lending at a higher rate of interest. Sums deposited by customers with bankers become the property of the bank, over which the customer has no further control. In return, the customer obtains a personal right to repayment of the sum deposited on demand. The banker owes a number of duties to his customer, including the duty to encash cheques drawn on the account while in credit or within agreed overdraft limits and the duty to maintain confidentiality. To carry on the business of banking in the UK, authorization is required from the BANK OF ENGLAND. There is a banking code governing the relationship of banker and customer and a Banking Ombudsman to deal with disputes.
References in periodicals archive ?
Those enjoying the opportunity to check their account balances 24-hours a day, view their account activity and history no matter where they are, transfer money instantly, reorder checks electronically, and perform other banking functions from home without picking up the telephone, say there's no reason to continue sitting on the fence.
Although the Batesville banking market would remain highly concentrated on consummation of the proposal, the increase in the post-merger HHI would be consistent with DOJ Guidelines and Board precedent.
Although it has become fashionable for banks to portray themselves in warm and fuzzy terms, it soon becomes clear to the individual and small business customer that their accounts are not particularly valued by the larger banking organizations.
The difference between conventional banking and check cashing explains why a Fleet Bank opening across the street didn't cut into Consiglio's business.
In part, the trend towards relationship banking has been driven by the banking industry's sharp contraction over the past 10 years.
Once you have some solid banking candidates, you'll want to check out their stances on loans.
Suggested the Post, "As with the savings and loan scandal in the United States, which led to a shakeout of the American finance sector and greater regulation, so too Asia might retool by cleaning up its banking mess.
Assembling a 10-member board of community leaders, including former Thousand Oaks City Council member Robert Lewis and Larry Janss of the city's pioneer Janss family, Kourounis hopes to resurrect the old-fashioned ideals of community banking.
Katherine Donohoe, manager of private banking for the Washington-based American Bankers Association.
2006 is crucial for the development of China's banking industry.
As noted above, Bank engages directly in the business of banking outside the United States.
Online banking also allows the consumer to transfer funds from one account to another from a remote location while most traditional banks expect consumers to go to the bank in person.