We now come to the question of the seven or fourteen days’ notice on these receipts, and, as previously stated, the banker seldom or never enforces his claim, though, when notice is not given, he occasionally deducts fourteen days if the whole of the principal be withdrawn. When this is contemplated it is better, perhaps, to give the necessary notice, but the manager, should the customer protest against this deduction, generally gives way. Again, if the note be for £100, and the depositor withdraw £50, and take a new receipt for the balance, the banker may deduct a certain number of days from the term on £50 (the sum withdrawn without notice). The customer, by checking his interest, will discover this loss, which the teller, if he remonstrated with him, will obligingly make good. It is also as well to bear in mind that some banks have two rates. The London depositor, we know, receives 1½ below Bank rate; so assuming that Mr. Jones, of Whitechapel, held a note for £200, dated 5th February, 1903, and took it to the bank to draw the interest on 5th July of the same year, he would want to know how much was due to him at the latter date. First, therefore, he must ascertain whether any changes were made in the Bank rate during the period in question; and upon inquiry he found that the “official minimum” was raised to 4 per cent. on 2nd October, 1902, and lowered to 3½ on 21st May following, and to 3 upon the 18th June next. Now, from 5th February (exclusive) to 5th July (inclusive) there are 150 days. His banker, therefore, owed him:-- Bank Rate was from 105 days’ int. at 2½ p.c. p.a. on £200 Feb. 5 to May 21 4 p.c. 28 ” ” 2 ” ” ” May 21 to June 18 3½ p.c. 17 ” ” 1½ ” ” ” June 18 to July 5 3 p.c. -------- 150 days Here we get three rule-of-three sums, and, perhaps, it were as well to give a statement of the first, viz.:-- (200 × 2½ × 105)/(100 × 365) = £1 8 9 28 days at 2 p.c. per annum on £200 = 0 6 1½ 17 ” ” 1½ ” ” ” ” ” = 0 2 9½ ------------- Interest due £1 17 8 Mr. Jones, of Whitechapel, then, should have received £1 17s. 8d. from his banker in cash and a fresh deposit-receipt, dated the 5th July, 1903, for £200. At each change of the bank rate the London depositor, when calculating his interest, must make a fresh sum, as in the above illustration, and so, too, must the country depositor when the fluctuation of the Bank of England rate is sufficiently wide to influence the rate of interest allowed in the provinces, though the latter must remember that he can only ascertain the rate by making inquiries of the bankers themselves or among those of his friends who deposit with them.