Management and Organizational Studies 2275A/B Chapter Notes - Chapter 25: Access Network, Disclose, Cheque Clearing

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Banks as financial marketplaces cash management, payments services, investment advice, etc. Banks under federal jurisdiction federal banks act to ensure stability and liquidity of banks, regulate types of business that can be conducted. Terms and conditions between bank and customer contract law in agreement. Bank as debtor, customer as creditor deposit money into bank, bank owes. Customers must: keep authorizations current, notify the bank of suspected problems, provide safeguards for electronic communications. Bank-customer agreement a bank and customer: banking contract contract that specifies the rights and obligations of. To specify who has authority to issue instructions to bank on behalf of customer i. e. signing cheques. To allocate risk of loss resulting from problems with verifying customer"s authority and carrying out customer"s instructions: account agreement financial services agreement. The bank"s ability to apply charges to customer"s accounts (service charges) Arrangements concerning instructions for payment by the customer, especially issue of cheques. Release of information by bank and customer.