Go to any bank with a promisery note made payable to bearer and open a Private Trust deposit account and make deposit in it and it stays there, the credit is transferred to a public side account you can access. Credit once its gone is not payable back to the bank. The note once the credit is gone is retired. Difference between a private promisery note made payable to bearer is that it must be retired or else its a fraud, whereas a promisery note by a banker can be reissued again and again.
Posted on: Tue, 02 Jul 2013 22:12:33 +0000