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Banking, an Industry of Confidence

In: Swiss Banking in an International Context

Author

Listed:
  • W. Blackman

    (The University of Calgary)

Abstract

From the outset of their experience, banks have depended upon a relationship between themselves and their customers which is entirely unique. Like the patient and his physician, the customers trust their banks to an extent unequalled in any other industry or government. Yet, there exists no contractual arrangement to warrant such a high degree of trust. A bank account is really no more than a mutual agreement between customer and banker to the effect that payments will be transmitted by the banker on the customer’s behalf, and that cash (in whatever form) may be returned to the customer when he so wishes.

Suggested Citation

  • W. Blackman, 1989. "Banking, an Industry of Confidence," Palgrave Macmillan Books, in: Swiss Banking in an International Context, chapter 2, pages 28-53, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10656-1_2
    DOI: 10.1007/978-1-349-10656-1_2
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