Abstract: A Wallet Banking System (WBS) for handling large volume transactions is disclosed. This invention relates to banking systems, and more particularly to wallet banking systems. Existing banking systems charge a certain amount on per transaction basis. As a result, the customer will have to pay a considerable amount for every transaction transactions that he makes. The disclosed method creates a wallet account for every core bank account of a customer that requires payments. An amount of money is automatically made available from the customers' core bank account to the customers' wallet account in WBS by using lien facility. The amount made available to the wallet account, there after becomes available for making payments from WBS. WBS will post a consolidated entry at the end of the day into customers' operational account in CBS thus reducing the entries that get posted into the CBS to a minimum.