Financial transaction

A financial transaction is an agreement, communication, or movement carried out between a buyer and a seller to exchange an asset for payment. It involves a change in the status of the finances of two or more businesses or individuals. The buyer and seller are separate entities or objects, often involving the exchange of items of value, such as information, goods, services, and money. It is still a transaction if the goods are exchanged at one time, and the money at another. This is known as a two-part transaction: part one is giving the money, part two is receiving the goods.

History

In ancient times non-financial transactions were commonly conducted through systems of credit, in which goods and services were exchanged for a promise of future recompense. Credit has certain disadvantages, including the requirement that traders or their intermediaries trust one another, or trust that authorities exist who can be relied on to enforce agreements. Debts must eventually be settled either with goods or by payment of money, a substance of agreed value such as gold and silver.

Royal Bank

The terms Royal Bank, Banque Royale, Banco Real can connote several different things,

See also

The Royal

The Royal is a British medical drama series produced by ITV that ran from 2003 to 2011. The show comprised one-hour episodes which were normally first aired on ITV in the Sunday early evening slot.

The title of the series refers to the fictional "St Aidan's Royal Free Hospital", located in Elsinby, a fictional rural seaside town, portrayed as being close to Aidensfield, the fictional setting of the UK TV series Heartbeat. The series was shot in Whitby and Scarborough, in the North Riding of Yorkshire. The Royal is an NHS hospital serving the local town, countryside and visitors. The show was set in the 1960s. It began as a spin-off from another popular ITV show set in North Yorkshire, Heartbeat.

Stars of the show included Ian Carmichael, Wendy Craig, Robert Daws, and Amy Robbins. The last episode of the show aired at 7.00 pm on Sunday, 31 July 2011 on ITV.

Overview

The Royal was introduced in the 14th episode of the 12th series of Heartbeat entitled 'Out Of The Blue' and The Royal benefited from this connection to the extremely popular parent series; several Heartbeat characters appeared in the first couple of series of The Royal, most notably Bill Maynard as a bed-ridden Claude Greengrass, but as the series progressed it generally dropped its character crossovers with Heartbeat to become its own entity.

The Royal Bank of Scotland

The Royal Bank of Scotland plc (Scottish Gaelic: Banca Rìoghail na h-Alba, Scots: Ryal Baunk o Scotland, Welsh: Banc Brenhinol yr Alban) is one of the retail banking subsidiaries of The Royal Bank of Scotland Group plc, and together with NatWest and Ulster Bank, provides banking facilities throughout the UK and Ireland. The Royal Bank of Scotland has around 700 branches, mainly in Scotland though there are branches in many larger towns and cities throughout England and Wales. The Royal Bank of Scotland and its parent, The Royal Bank of Scotland Group, are completely separate from the fellow Edinburgh based bank, the Bank of Scotland, which pre-dates The Royal Bank of Scotland by 32 years. The Bank of Scotland was effective in raising funds for the Jacobite Rebellion and as a result, The Royal Bank of Scotland was established to provide a bank with strong Hanoverian and Whig ties.

History

Foundation

The bank traces its origin to the Society of the Subscribed Equivalent Debt, which was set up by investors in the failed Company of Scotland to protect the compensation they received as part of the arrangements of the 1707 Acts of Union. The "Equivalent Society" became the "Equivalent Company" in 1724, and the new company wished to move into banking. The British government received the request favourably as the "Old Bank", the Bank of Scotland, was suspected of having Jacobite sympathies. Accordingly, the "New Bank" was chartered in 1727 as the Royal Bank of Scotland, with Archibald Campbell, Lord Ilay, appointed its first governor.

Bank of Scotland

The Bank of Scotland plc, (Scottish Gaelic: Banca na h-Alba), is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the fifth oldest surviving bank in the United Kingdom (the Bank of England having been established one year before), and is the only commercial institution created by the Parliament of Scotland to remain in existence. It was one of the first banks in Europe to print its own banknotes and it continues to print its own sterling banknotes under legal arrangements which allow Scottish banks to issue currency.

In June 2006, the HBOS Group Reorganisation Act 2006 was passed by the Parliament of the United Kingdom, allowing the bank's structure to be simplified. As a result, The Governor and Company of the Bank of Scotland became Bank of Scotland plc on 17 September 2007.

Bank of Scotland has been a subsidiary of Lloyds Banking Group since 19 January 2009, when HBOS was acquired by Lloyds TSB.

History

Establishment