BANKING METHODS.

Evening Post, Volume LXXIX, Issue 82, 8 April 1910, Page 2

BANKING METHODS.

TO THE EDITOR. Sir, — A »fr«nj[er in yotir midst, having in Ins possession a cheque of more magnitude than ho curod to carry, entered a palatial bank with tho idea of having tho amount of the ssid chequo transferred to a branch of tlm bank up country. After various enquiries answered politely but coldly by reserved person* occupying highly entrenched position*, ho dii-co\crcd one to attend to hi* nccd/>. Apparently there wcro difilculti('«. This bank was not in busincrs to give th« lerviees of its highlypaid *Uff for nothing. There was a. queotion of exchange, which consists of a small payment to cover tho cost of letter writing and leave an adequate profit to the bank. Thcio wan also a charge to cover tho coat of transfer of account from one branch to tho other. Also there was a charge deducted from the account to pay for labour and stationery in keoping the account. Al«o thero was a charge for chequn-bookt). Pcrhap*, then, a bank that provided so well for expense? gianted a mall interest on one's monthly balance? Certainly* not. Such a proceeding would bo totally opposed to correct banking methods !_ Then the kindly official — perhapi taking pity on tho stranger's obvious ignorance — explained that tho Aye amalgamated banks of thin country had arranged that tl>ing» should bo done to and in such a manner, and that the rules of their union were unbreakable, and wcro such •4 to preclude any chance of either of the five suspending payment. Tho stranger could not help agreeing with this latter fi'ftlvnncnt. But Mirre flashed over his mind a picture, of a bank in another- country. Tho president and vice-president of this extraordinary institution had desk* in tho front public office — actually quito undefended from the vulgar gaze or even convomtion of merq depositor!. Alto, tho president wai quite a human man, who had an easy chair and a box of good cigars entirely at the service of a new depositor, b« kc nevtr to humbl*. He m>do~ thing* riry easy for that now dopoiitor, nnd really teemed pleased to have hi* account Though he wera cashing a cheque drawn on another bank thru* thousand mile* awar, ouch sordid detail* m exchange wevo never mentioned nor thought of. This bnuk wai actually competing with tho bank oppo-ile, and paid it* nt*ft from tho profit marin in handling the depositor/ nionfy, making this profit by backing local indn*. tries. A Rt ringer in your midst might perhaps ho pardoned for a slight feeling of rearct. — I tMli flc _ „. , SI RANGER. Wellington, 7th April, 1910.