Abstract
Although banks charge fees for most of the services they provide, the major part of a bank’s profits comes from lending money. There are various ways in which a bank can provide credit for its customers. First, it can provide a lump sum of money in the form of a loan. Second, it can allow a customer to draw cheques when he has insufficient money in his account to meet them. This is done by allowing him an overdraft. Finally, it can make it possible for a customer to buy things without paying cash for them. This is done by the use of credit cards.
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© 1982 R. R. Pitfield
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Pitfield, R.R. (1982). Bank Credit. In: Mastering Commerce. Macmillan Master Series. Palgrave, London. https://doi.org/10.1007/978-1-349-16705-0_17
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DOI: https://doi.org/10.1007/978-1-349-16705-0_17
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-30445-7
Online ISBN: 978-1-349-16705-0
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