Dictionary

trading bank en · NOUN

Meanings

1. A commercial bank whose chief business is accepting deposits and making loans.
   • The main business of the trading banks comprises the following: 1. The acceptance of deposits either for a fixed term, in which case interest is paid, or on an "on demand" basis; i.e., current accounts on which no interest is paid unless the account is operated by a non-trading organisation. 2. The granting of loan accommodation to customers by overdraft or by discounting bills of exchange. 3. The provision of the current account and cheque system at a modest cost to customers. .... 1966, Robert John Familton, “The Trading Banks”, in An Encyclopaedia of New Zealand:
   • Trading banks mainly financed business and provided cheque accounts for individuals, while savings banks were restricted largely to lending to individuals. 2010 February 26, David Tripe, “Banking and finance – Banking and finance to 1984”, in Te Ara – the Encyclopedia of New Zealand:
   • New Zealand's banks were originally divided into trading banks (which were the main providers of services to commercial customers) and trustee savings banks (which generally served personal banking customers). 2023 August 10, Commerce Commission New Zealand, Market Study into Personal Banking Services:

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