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A passbook or bankbook is a paper book used to record bank transactions on a deposit account.
Depending on the country or the financial institution, it can be of the dimensions of a chequebook or a passport.
Traditionally, a passbook is used for accounts with a low transaction volume, such as a savings account.
In the late 20th century, small dot matrix or inkjet printers were introduced capable of updating the passbook at the account holder's convenience, either at an automated teller machine or a passbook printer, either in a self-serve mode, by post, or in a branch.
Passbooks appeared in the 18th century, allowing customers to hold transaction information in their own hands for the first time.
Up until then transactions were recorded in ledgers at the bank only, so that customers had no history of their own deposits and withdrawals.
The passbook, which was around the size of a passport, ensured that customers had control over their own information, and was called a "passbook" because it regularly passed between the bank and the account holder for updating.
Under this system, the passbook's owner would sign in the back of the passbook in an invisible ink and the signing authorities would also be noted.