Overview

This book describes the different types of banks and banking organizations which are operative in the UK. It also analyzes the activities of the Bank of England in the field of banking supervision. It expounds in detail the relationship of banker and customer, discussing the different types of account used at present and analyzing the special duties owed by the bank to its customer. The bank's operations as a paymaster and as a recipient of the customer's money are discussed in detail. The book includes chapters concerning the legal problems of, and the practice relating to, giro (money transfer) operation and electronic banking (including the role of ATMs). It also reviews the practice and procedures used by the different clearing systems of the UK banks, including BACS and CHAPS. Bank overdrafts and loans are then compared and analyzed; and the raising of funds by the use of acceptance credits, operable by bills of exchange and promissory notes, is discussed. The final part of the book deals with the special problems of securities for bankers' advances. Emphasis is placed on set-offs, on the use of bank balances as securities. Throughout the book banking law is discussed in the context of its economic function. The applicable legal principles are examined in the light of banking practice. Special consideration is given to the Consumer Credit Act 1974, and to regulations made thereunder; these provisions are referred to and commented upon whenever relevant to the discussion. Whilst the book does not deal with international banking, it provides an analysis of the activities of banks in the domestic market and is therefore of interest to students of banking, law, and business studies, professional bankers and practising lawyers.

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9780198761563

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