Generally a person who is doing the banking business is called banker.
According to Dr.Hart, "A ‘Banker’ is one who in the ordinary course of his business honors cheques drawn upon him by persons from and for whom he received money on current accounts."
According to Sir John Paget, "No person or body corporate or otherwise can be a banker who does not: take deposit accounts. Take current accounts, issue and pay cheques drawn on himself and collect cheque for his customer."
It is said in English Bills of Exchange Act-1882, ‘Banker’ includes a body of persons, whether incorporated or not, who carry on the ‘business of banking’.
So, it can be said, that a banker does 'business of banking' i.e. accepts deposits withdrawable by cheques.
Webster Dictionary Meaning
- A money changer.
- The dealer, or one who keeps the bank in a gambling house.
- A vessel employed in the cod fishery on the banks of Newfoundland.
- A ditcher; a drain digger.
- The stone bench on which masons cut or square their work.
More from this Section
- Base currency
Base currency applies mainly to international equities. Currency in which gains or losses ...
- Regulatory arbitrage
Regulatory arbitrage is a process in which banks keep on their books assets that have ...
Forfaiting is the purchase by the forfaiter of an exporter’s accounts receivable, which ...
- Banker’s banks
Banker’s banks is the regional service firms, often created as joint ventures by groups ...
- Classification of Bank
Bank can be classified or categorized in different ways. However, such categorization ...