Hamburg settlement
The Hamburg billing referred to a form of local billing for payment transactions in Hamburg .
history
At various locations with a branch of the Reichsbank , payment transactions were settled in the same way until 1949. The “Hamburg billing” was organized like the nationwide LZB billing . It was an independent institution of the most important Hamburg credit institutions , which merged in the legal form of an unregistered association ("Große Abrechnung" or "Hamburger Abrechnung"), in which the Landeszentralbank Hamburg was only an equal member .
organization
The messengers from the various Hamburg banks met with the messengers from the other banks in the rooms of the state central bank. The accounting papers ( transfers , checks and bills of exchange ; direct debits did not yet exist) were sorted according to the banks on the other side; So: all transfers from Haspa customers sorted according to recipients at Deutsche Bank, Commerzbank, Westbank, etc. The other banks proceeded accordingly, and the same was done with checks and bills of exchange. The debit and credit sales could be netted between the banks. Between the small number of billing participants, only the net balances were then determined. Remote transfers outside of the settlement participants were cleared via the central bank. The balance of all payments was determined and regulated via the LZB accounts in such a way that each participating bank was only credited or debited the balance of the items from the papers of the accounting day. Legally, this was a set-off . The procedure reduced the number of postings and the amount of the amounts.
The End
Due to the increasing number of electronic payments , it was decided to close the Hamburg account in June 1997. The nationwide LZB billing only ended in March 2000.