The daily chieftain. [volume] (Vinita, Ind. Ter. [Okla.]) 1898-1902, 1902-01-04
ENGLISH BANKING CUSTOMS
tfce That Are Like ard
Unlike Ours.

Bankers adopt various systems of
marking dishonored checks, but it is
done in such manner that the person
to whom they are returned may ex-
cusably protest that the bankers an
swer is unintelligible to him. r. d.
(refer to drawer) are the letters which
are most often written upon dis
honored check by banker, and their
meaning is that the drawer has not the
money standing to his credit to meet
the check he has given, says the Lon
don Mail
N. S. (not sufficiently implies that the
drawer has some money standing to
his credit, but not enough to meet the
check which the banker has thus
marked. A banker never states the
amount of the deficiency, nor will he,
IT asked by the presenter, give any
idea of what sum is standing to his
customers credit, as the payee, were
he supplied with this information,
could pay in the sum wanted, and then
represent the dishonored check, when
the banker would be bound to honor
it.
In Scotland the presentation of
check entities the payee or holder to
lien upon any smaller sum that may
be standing to the drawers credit.
In the eye of the law your banker is
liable upon any forged check which he
may have debited to your account.
For forged Endorsements, however,
the paying banker is not liable, and il
is therefore most important that you
should receive an acknowledgment of
all checks dispatched by you through
the post from the persons to whom
you send them. In sending checks
through the post it is always well to
remember that bona-fide holder who
gives value for stolen check, proyid-
ed it is not tainted with forgery, can
sue you, whereas, if the words mot
check, he cannot.
Many people have somewhat hazy
notions about out-of-date checks, yet
the matter is quite simple. The draw
er does not cease to be liable upon the
instrument until six years after the
date thereupon, though most bankers
would probably decline to pay a check
that had been outstanding more than
six months. The drawer may claim
damages from the payee if he can
prove that he has suffered loss
through his delay.
If banker return a customers
check when his account in reality is in
funds the customer can bring an ac-
tion against his banker for damages,
and, adds Mr.. Warren, the banker
generally prefers to settle such case
privately.
The question is often asked: "What
balance should a customer keep with a
bank in order to entitse him to have
his accounts conducted free of
charger"
This is answered as follows: "A
small account in the provinces, upon
which an average balance of ESQ is
kept, will be conducted free, and
1t does not appear customary TO debit
such accounts in London with any
commission provided credit balarrc
Of from eco to 100 be maintained.
IL. therefore, your account be of this |
description and you find debit of |
2s. Cd. or IS. in your bank book. by all |
means decline TO pay it, for IL may os
well be stated at once that a joint |
stock bank official often considers the
nature of the customer as well as the |
nature of the account, and that he |
viii. if he thinks you look juggins,
debit your account with few shillings
at the end of each half year.