Word: depositor
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...check with the depositor's code number must be put through an encoder where an operator inscribes it with its dollar amount before it is turned over to ERMA. From there on, a battery of machines do all the work. The machines sort and tabulate the checks, debit the accounts, print the statements when they are due, and put the checks in neat piles to be returned to the banks. ERMA also produces three daily records for the banks: a status report on the balance in each account, a journal of the most active accounts (noting large withdrawals that...
...started to hustle. "We have nothing to sell except service," said Lewis. He was one of the first to install business machines to help tellers figure accounts rapidly, in 1956 ordered an all-electronic bookkeeping system. And when most banks limited the number of checks a depositor could issue without charge in any one month, Lewis' slogan was "checks without charge for household bills...
...into law to protect the funds of victims of Nazi and Fascist persecution. Anyone can open a secret account in a Swiss bank, get a code number for all his transactions. The secrecy code is so stringent that the Swiss tax collector himself dares not inquire about a depositor's account...
FREE LIFE INSURANCE is gimmick being offered by banks, savings-and-loan associations, to attract new savings accounts. Banks insure life of depositor in amount of his savings, up to $5,000, usually require no medical exam. Some banks absorb premiums, others cut savings interest to make up the premiums...
...Banking. At the Mechanics and Farmers Savings Bank, Bridgeport, Conn., Mosler Safe Co. has installed a closed television circuit and loudspeaker system connecting an indoor teller's cage with a curbside depositor's booth. Deposits and receipts are sped through a 100-ft. pneumatic tube. Mosler plans eventually to install remote-control bank booths at subway and rail stations, main intersections...