Absorption of Exchange Or Collection Charges by Member Banks

Absorption of Exchange Or Collection Charges by Member Banks

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It, therefore, could not have Iagt;aid the mail-order company any interest. ... The Chattanooga bank forwards the check to the Bank of Anytown but, unlike the previous holders of the check who ask for credit only, it asks the Bank of Anytown to pay the check and transfer the funds to Chattanooga, or to a point of its selection. The Bank of Anytown complies with the request for extra service which it performs for the customary exchange fee of one-tenth of 1 percent, or 5 cents. The collectionanbsp;...


Title:Absorption of Exchange Or Collection Charges by Member Banks
Author: United States. Congress. Senate. Committee on Banking and Currency
Publisher: - 1945
ISBN-13:

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