Bank teller

“ The distribution between the currency and deposit components of money depends largely on the preferences of the public. When a depositor cashes a check or makes a cash withdrawal through an automatic teller machine, he or she reduces the amount of deposits and increases the amount of currency held by the public. Conversely, when people have more currency than is needed, some is returned to banks in exchange for deposits. ”

“ After the appointment of Philip H. Minor, in September 1817, to be Cashier of the bank; and the order of the Board, on the same day, relative to the whole duties of the bank being performed by the then officers of the bank; no renewal of the appointment of teller was made, and he usually performed the duties of Cashier and teller. ”

“ When a cashier or teller pays the check of a depositor having credit at the bank, he pays as the bank has promised; every dollar that is thus paid out discharges so much of the debt due the depositor from the bank. The cashier is but executing the contract of the bank. When the cashier accepts the draft or check of a non-depositor, a new and different contract is entered into. The bank agrees to advance or lend so much money to the drawer. The bank becomes the creditor, and the drawer of the check the debtor. ”

“ The very next day a person, whom the Teller at once recognised to be the same individual, although completely altered in dress, being now muffled up in a cloak, and wearing green spectacles, and having a fur cap drawn much over his face, called at the Commercial Bank, and presented to the next Teller a £50 Bank of England note, to be exchanged in Commercial Bank notes, who, according to custom, requested the person to write his name and address on the back. ”

“ The paying teller has to accustom himself to the peculiarities of the signature of every patron of the bank, and has to be constantly on the lookout for forgeries; for if he pays a forgery, the bank must stand the loss. ”

“ Nothing could be farther from the facts as they are accepted at the bank window. As a matter of fact, when a check made out in this erroneous way comes to a teller's window he is most likely to refuse to pay either amount. There is no law, written or unwritten, to justify the paying of the amount spelled out in the body of the check, regardless of the group of figures on its face. ”

“ For this purpose the currency of active banks is delivered from the assorters through the teller to a "maker-up" who takes an inventory. Next day he assorts the packages of a group in a till similar to those already described, except that it is laid flat upon a low counter. Then he takes the contents of a box, ascertains, by examining the upper note of each package, that the money is all the issue of a single bank, and writes in ink upon a blank label the title of the bank, the amount of each denomination, and the total of all, signs and dates this, and straps it upon the bundle. ”

“ This innocent looking piece of fluff was caught slipping a five-dollar bill to a teller at a bank down town, and asking for change for a hundred dollar bill. She says it was nothing more than sleight of hand. You are an experienced observer. I want you to watch her work her little trick. If she can fool us, and not use Psi, the legal position is that she didn't need Psi to fool the teller. ”

“ The friend completes his work, puts away his books, and figures up the amount needed. The borrower has a small balance to his credit, and he gives a note for the difference. Then the teller opens the safe, brings out a roll of bills, and begins to count out the amount. The safe door is left open, and the visitor sees within the piles of bank-notes and the rouleaux of gold. A fortune in cash is within his grasp with only a human life standing in his way ”

“ All that the English paying teller needs to be satisfied of is that the signature of the drawer is genuine and that there is money enough to the credit of the account to meet the cheque. But the Englishman in the strange American bank finds that the document in his hands is practically useless, no matter how good the signature or how large the account on which it is drawn, unless he himself—the person who presents the cheque—is known to the bank officials. "Can you identify yourself, sir?" The Englishman usually feels inclined to take the question as an impertinence ”

“ Having cognizance of the solemnity of the obligations resting upon a bank president, an honest, trustworthy cashier, teller, or bank clerk will not object to the closest scrutiny. Neither will he consider that his honor has been trampled on, when a careful inquiry is made as to his habits and as to those of his associates. On the contrary, an honest, upright employee will be pleased to have his trustworthiness put to the test and found not wanting. Beware of the bank employee whose honor is so tender that it can’t be handled without gloves. ”

“ One stepped up to the window of the paying teller, and covering him with his revolver, demanded five thousand dollars. At the same time the other stood in the doorway, also with a loaded revolver."
"Why didn't the teller shoot him down?" asked Luke.
"My friend, bank officers are not provided with loaded revolvers when on duty. Besides, the ruffian had the drop on him."
"Well?" asked Luke.
"What could the teller do? Life is more than money, and he had no alternative. The fellow got the money." ”

“ On the day following the opening of the account the offender will visit the bank and on this occasion approaches the paying teller. Of course, he is not known to the paying teller, but he produces his pass book and shows the paying teller that he has on deposit say one hundred dollars. He asks to withdraw fifty. Hundreds of paying tellers have been caught off their guard with this game by neglecting to look up the party’s account, and in an unguarded moment take it for granted that the party’s account is O. K.
Stolen pass books are an extensive source of loss to banks. ”

“ The fact that cashiers and tellers are members of a corporation in control of the bank ought not to exclude them from espionage. In proof of this, I will call the attention of the doubting one to the columns of the daily newspapers. Scarcely forty-eight hours pass without its being recorded that a bank cashier or teller in some part of the country has absconded with the bank’s funds. A thorough knowledge of486 the social and business relations of every man holding a responsible position in a bank should be had. ”

“ To accommodate matters, however, and that the poor woman should not be weeping daily and indefinitely on the maddened teller's window, an intermediary money-lender was found, who, having vainly sought to induce the bank to render itself responsible, then Mrs. ”

“ Banks cannot be compelled to receive money for deposit from anyone. They are permitted to exercise their discretion and reject such deposits as they choose. The ordinary method of making deposits is by delivery of currency consisting of gold, silver, copper, and nickel coin, bank notes and checks to an agent of the bank. The agent authorized to receive deposits is usually called the receiving teller. Deposits are usually entered by the receiving teller in the customer's pass book. In commercial banks, deposits are ordinarily withdrawn by check, without presenting the pass book. ”

“ The habits of the associates of cashiers and tellers should be known. The old saying, that birds of a feather flock together, ought to be considered in its fullest sense, and therefore a bank president should know what sort of a flock his cashier or teller seeks after business hours. That a cashier has been a faithful steward in a bank for many years is not a valid reason why he should not be kept under surveillance. Almost every bank employee who falls into corrupt ways was a “trusted” employee. ”

“ For the purposes of subsection (1) , where the bank account or automated teller machine card of any person, or a telecommunication service subscribed in the name of or purchased by any person, is proved to the satisfaction of the court to have been used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender, that person shall be presumed, until the contrary is proved, to have assisted in the contravention of section 5 (1) . ”

“ This charge the court gave, adding, 'If it was handed in as a deposit, it became a deposit at the time it was received. Taking the surrounding circumstances into consideration, if it was received by the teller as a deposit, it became a deposit. That I give you, for it has these words in it, 'or received as a deposit."
For most purposes the law regards the entire day as an indivisible unit. But when the priority of one legal right over another, depending upon the order of events occurring on the same day, is involved, this rule is necessarily departed from. ”

“ It seems to us that the obvious meaning of 'becoming aware,' as used in this bond, is 'to be informed of,' or 'to be apprised of,' or 'to be put on one's guard in respect to,' and that no other meaning is equally admissible under the terms of the instrument. These are the definitions of the lexicographers, distinctly deducible from the derivation of the word 'aware,' and that is the sense in which they are here employed. It is used in the same sense in the cashier's certificate on the renewals of the teller's bond.
To be aware is not the same as to have knowledge. ”

“ The deposit is handed to the receiving teller of the bank, who, after verifying the ticket, makes an entry of the amount in the depositor’s pass-book. Duplicate deposit tickets are usually kept by the depositor. It is important to note that checks must be indorsed before they are deposited, so as to make them collectible by the bank. ”

“ Women and girls, with bank-books in their hands or nervously fingering checks, conferred in low tones about the security of their deposits. The Citizens' National and the State Trust Company were also receiving attention from their depositors. As three o'clock approached, the Montgomery Bank filled, and the receiving-teller began to assist the paying-teller in cashing checks. Amzi lounged along the lines outside, talking to his customers.
"Going to buy automobiles with your money, boys? Thunder! ”

“ The farmer was chronically wanting to borrow, and his security was getting shaky. I’d like to borrow five thousand, pleaded the farmer. The banker cupped his hand to his ear and said: Speak a little louder and cut down the amount.
Thousands of girls are sent out into the world with what is called finished educations, who cannot even give a proper receipt for money, to say nothing of drawing a promissory note, a draft or a bill, or understanding the significance and importance of business contracts.
Such a woman presented a check for payment to the paying teller of her bank. ”

“ In case of applicant handling cash or securities, how often will the same be examined and compared with the books, accounts, and vouchers, and by whom?-A. Not less than quarterly, and often monthly, by finance committee.
Q. 15. In case of applicant acting as teller: (a) Will he be required to balance his cash daily, and report same to president or cashier? (b) And will a record of same be kept? A. . . .
Q. 16. Will applicant handle funds or securities not subject to a routine check or periodical examination? If so, please describe their nature?-A. No. ”

“ May not a merchant discount his own notes, without being considered a banker? The mere receiving money on deposit, to be paid out again whenever called for, is not banking. Surely a man may deposit his funds in safe keeping in the hands of a friend, without making that friend what is known in our law and in the commercial law, as a banker. Issuing a note to be put into circulation as money may, perhaps, be evidence of itself of an act of banking; and this may be the most important power which a bank possesses. ”

“ In either way it was a legal proceeding, effectual and perfect; and as no reason exists for a different construction, we think that the parties, by treating it as a cash deposit, must be deemed to have considered it as paid in money, and then deposited; since that is the only way in which it could legally become, or be treated as cash. Nor is there any novelty in this view of the transaction. Bank notes constitute a part of the common currency of the country, and, ordinarily, pass as money. When they are received as payment, the receipt is always given for them as money. ”

“ In various ways the special agent found opportunities, even without seeing the books of the bank, of demonstrating to his satisfaction [Pg 150] that the accounts were being juggled. This was particularly true of new deposits. When a cashier is particularly hard pressed he may resort to a manipulation of the accounts of current depositors. The system is the simplest in the world. When a depositor hands in his money, the cashier enters the amount in the pass book of that individual as a receipt. Then, instead of entering the money to the depositor's credit, the cashier puts it into his pocket. ”

“ And therefore paper issue is the natural prelude to deposit banking.
The way in which the issue of notes by a banker prepares the way for the deposit of money with him is very plain. When a private person begins to possess a great heap of bank notes, it will soon strike him that he is trusting the banker very much, and that in return he is getting nothing. He runs the risk of loss and robbery just as if he were hoarding coin. He would run no more risk by the failure of the bank if he made a deposit there, and he would be free from the risk of keeping the cash. ”