Banking in the past (before computers):
Banking used the same system in the past as the do now. The only difference is the speed in which all the processes, transactions and records are performed. The most significant change that has been made in the banking industry is the computerization that took the jobs away from most bank tellers. With computers the banks didn't need to calculate how much was being deposited or withdrawn, and also confirm the validity of the authentication they would bring in because of credit cards. Another significant change which made transactions faster is the introduction of credit cards. Before credit cards people used bank books. Bank books had the amount of money in your bank account, as well as all the transactions you had done. The bank teller would check the validity of the book by shining a UV light on the back page to see if there was a signature or something that confirmed it was genuine. The bank teller would write the new amount on the bank book and would write the transaction in there own logs. The banks had a central bank in which they would send the a copy of any registry and other information too. This was very inefficient compared to today, as information is sent instantaneously, with money, transactions and information all being stored immediately. For travel expenses people would have to wake it out from their local bank and have it with them.
Alternative transaction methods:
Money: Money is having a physical note that could be exchanged for certain g/s. This method is somewhat convenient as it doesn't run the risk of forgetting your pin to your credit card. This method is also weak to theft as there is no way to track the physical notes or to see if anyone else has them.
Swipe: This method uses a credit card, specifically swiping the credit card across the card reader. It is somewhat of a safe method, as if the card is stolen then they can't use it for local transactions, but they can use it for online transactions with the credit card information. The credit card can still be cancelled and the money that is used can be traced.
Tap: This method uses a credit card, specifically taping the credit card on the card reader. This method is very convenient and the fastest of all the methods, but it might be the most dangerous. If it is stolen the card can produce immediate local transactions under $100 and the card still has the information on it meaning they can make online orders.
Cheque: This method is like a Bank book. It is a physical piece of paper and you put in the information of the amount you are giving and is the slowest way of making a transaction, as it needs to be processed through a bank before the money is transferred. It also takes some time to fill out the slip.
Bank book: This method is the old way of making transactions with a bank. You would give the book in, request how much you want to take out or put in and then you would either be given physical money or give money. Then the amount in your bank account will change and be displayed on your bank book.