would not be complete without mention of a
new system in which the services of a number of
our foreign branches are invoked to reduce the
time required for the clearance and advice of
incoming cheques in foreign currencies destined
for our account holders.
Finally, business clients can now obtain, in
addition to the normal daily statements,
monthly summaries of movements in their
accounts. Although a small charge is made for
this service, it is clearly valued by many
companies.
Generally speaking, the charges made for pay
ment services cover at most a portion of the
costs. In view of the magnitude of these costs
and the value of this service to clients, we feel
that a more realistic scale of charges is both
necessary and justified to better balance costs
and benefits.
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