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Free Books / Finance / Canadian Banking Practice / | ![]() |
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28 Bask Money Orders. |
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This section of the book is from the "Canadian Banking Practice" book, by .
Question 28.— A branch office in Ontario issued a money order in favour of a Montreal firm. The firm's bankers added and collected five cents. This bank is not reported as belonging to Bankers' Association. What right has any bank to charge on a negotiable document payable in same city?
Answer.—The bank had a technical right to collect the commission, but we think their action was not in accordance with the spirit of the arrangement among the banks with respect to these orders.
 
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