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

Not exactly an answer to this question but as a kid born in the early 80s, I experienced the era where there was an electronic backend but no consumer electronic banking. But my bank had a passbook printing machine. So I could get a paper passbook and stick it in the machine, and it’d print onto it all the transactions I hadn’t printed yet. 

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