Question

Short points on passbook -- commerce

Answer 1

A passbook or bankbook is a paper book used to record bank, or building society transactions on a deposit account


The Post Office Savings Bankintroduced passbooks to rural 19th century Britain

Traditionally, a passbook is used for accounts with a low transaction volume, such as a savings account. A bank teller or postmaster would write, by hand, the date and amount of the transaction, the updated balance, and enter his or her initials. In the late 20th century, small dot matrix or inkjet printers were introduced capable of updating the passbook at the account holder's convenience, either at an automated teller machine or a passbook printer, either in a self-serve mode, by post, or in a branch.