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 classic literature ?
And how are we to get it out of this, in banking hours, without attracting any amount of attention at this end?
After many conjectures, Mademoiselle Roguin came to the conclusion that the Italian's silence showed a grandeur of soul beyond all praise; and the banking circle, inspired by her, formed a project to humiliate the aristocracy.
It was an ordinary morocco affair, similar to those issued by American banking houses to enclose letters of credit.