CREDIT CLEARING SCHEME
Extension Planned In England (Special Correspondent N.Z.P.A.i LONDON. Jan. 23. English clearing banks are considering a scheme by which anyone can pay a bill through the banks without using a cheque. Ah announcement is expected next week. Sir Oliver Franks, chairman of Lloyds Bank, mentioned the idea while addressing shareholders. Credit clearing, he said, was instituted last April and limited at first to traders' credit and standing order payments. It was extended in October to credits paid over the counter by customers for credit on accounts at other banks. “In the coming year.” he added, "it is intended to further extend clearing arrangements to cover credits to an; clearing bank account paid in at any branch whether or not the party making payment is a customer of the banks.”
Those using the system would pay a fee. probably 6d. fc ■ the service, he said.
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Press, Volume C, Issue 29421, 25 January 1961, Page 17
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147CREDIT CLEARING SCHEME Press, Volume C, Issue 29421, 25 January 1961, Page 17
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