Common Cash

With a branch of the Midland Bank conveniently on its site at Westminster Central Hall, and most of its connexional accounts at that branch, the Church has continued an arrangement dating from 1886 for most of its accounts nominally to be held together, so that overdrawing on one account could be offset by credits in others. Eventually, most connexional money throughout the country joined this scheme and the Church avoided considerable bank charges while earning interest on the overall credit balance.

Entry written by: DRF
Category: Subject
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