| Description | Observes by the pass book that there is a considerable overdraft on the General Purposes Account. This is a circumstance which has frequently at this time of year, and has adjusted itself shortly afterwards by income accruing during the summer months. But on this occasion, for the first time in Harrison's experience, they have charged interest on this account, and he would like to know before consulting the Treasurer whether they have instituted a new practice.
They will observe that on the General Purposes Account there is still £1000 on deposit, and Harrison supposes the more usual course in such circumstances to be, before charging interest on the Current Account, to inform the customer of the overdraft and give them an opportunity of correcting it out of the Deposit Account.
In the case of the Royal Society accounts in particular the Treasurer has been under the impression that, in view of the number of Trust accounts standing in the name of the Royal Society and of the credit balances they show, any temporary overdrafts of the Current Account were allowed without charge. If they have made charging a practice, Harrison would like to know, so that a guide can be put in place for dealing with accounts in the future. |