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

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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

You had a small bank book. Every time you went to the bank you gave the teller your book. The teller would either add or subtract the dollar amount depending on your transaction and stamp it with a special stamp and give the book back to you. That way you could go to multiple branches and get or deposit cash. Large withdrawals they might call the other branch to verify you had the money.

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