How did multiple bank branches of the same institution maintain an individual’s balance prior to electronic banking?

1.05K viewsEconomicsOther

What would stop people from withdrawing money from multiple banks and over drawing before all bank branches could be updated on the person’s balance?

In: Economics

16 Answers

Anonymous 0 Comments

Before all the electronic data transfers, there were these special printed bank books. You needed money, go to bank and present this book to cashier. If it said you had money, Thay gave you some and made new entry in your bank book. It also had details of what branch had issued that book, etc… Se they could call if needed

You are viewing 1 out of 16 answers, click here to view all answers.