trading bank

— 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. ....