Post Office Savings Banks

The following important advantages are offered by the Post Office Savings Banks:-

1. Government Security.

2. Interest at a rate of 2½ per cent. Per annum (being sixpence per year, or ½d per month, on each £1) is allowed.

3. Sums from 1s. and upwards are received.

4. Money can be paid in and withdrawn every day

5. Money deposited at one office will be repaid, if desired, at any other office in England.

6. Depositor need not attend personally to deposit or withdraw money.

7. Married women, children, and trustees may deposit.

8. All forms and letters on the subject pass free of postage.

9. Deposits free of stamp duty.

10. Facility of settlement in case of death of depositor.

All post offices, especially used as places of deposit, will be appointed by the Postmaster General, whether money-order offices or not.

If at a money-order office; every day, between the usual hours for issuing such orders. If at a post office (not a money-order office); on the days and at hours directed by the Postmaster General.

All persons may deposit, provided they have no account with any other Savings Bank in Great Britain or Ireland, nor are entitled to, or benefited by, any deposit in any other name is such banks. No person is at liberty to open more than one Post Office Savings Bank account for his own savings throughout Great Britain or Ireland. Penalty for opening more than one account,—forfeiture of all deposits. But any person, being a member of a Friendly Society, or having money deposited in his name as a trustee on behalf of others, is nevertheless permitted to open an account with a Post Office Savings Bank for his own personal savings.

One shilling to £30, and in any sums; but not more than £30 in all will be received during any one year ending 31st December. When the total in the name of a depositor reaches £150, no further amount will be received, but the interest will be paid to him or her, or it will be allowed to accumulate until the total reaches £200, when interest will cease altogether, unless a portion is withdrawn. Certified Friendly and Charitable Societies and Penny Banks can, however, deposit to any amount, without restrictions. Pence cannot be deposited even with other monies, the amounts being kept in pounds and shillings only. No amount under one shilling will therefore be received.

Every complete £1 will bear interest at the rate of 2½ per cent. per annum, being sixpence for twelve months, or one halfpenny per calendar month, and will commence from the 1st of the month after the deposit is made. No interest is allowed of sums under £1, until they amount together to that sum. Interest will be calculated to 31st December in every year, and added to each account; and will also be paid on entire deposits being withdrawn, up to the 1st of the month in which they are so withdrawn.

The following is a list of the Metropolitan Post Office Savings Banks already opened:—

Acton, W
Balham, S
Barnet, N
Battersea, SW
Battlebridge, N
Beckenham, SE
Bexley, SE
Blackwall, E
Bow, E
Bow ed., Wilby terrace, E
Brixton, Acre lane, S
Bromley, Middlesex, E
Canning Town, E
Chancery lane, WC
Cheshunt, N
Chichester st., Paddington, W
Chiselhurst, SE
Chiswick, W
Churton st., Pimlico, SW
City road, EC
Conduit street, Paddington, W
Connaught terrace, Hyde park, W
Crayford, SE
Croydon, S
Ealing, W
East Greenwich, SE
East India road, E
Eltham, SE
Erith, SE
Euston square, NW
Great Ilford, E
Great Tower street, EC
Green st. Bethnal Green, NE
Hanwell, W
Hendon, NW
High st. St John's wood, NW
Hornsey road, N
Hounslow, W
Hoxton New Town, N
Isleworth, W
Kennington Park, S
Kensal Green, W
Kilburn, NW
Kingsland road, NE
Knightsbridge, SW
Lower Tottenham, N
Malden road, Kentish Town, NW
Mile End, E
Millwall, E
Mortlake, SW
New Cross, SE
Newington Butts, S
Norland hill, Notting hill, W
Notting road, Hall Terrace, W
Old Brompton, SW
Old Ford, E
Old Kent road, SE
Ponder's End, N
Putney, SW
Ratcliffe, E
Rotherhithe, SE
St. Mary Cray, SE
Shadwell, E
Shoreditch, NE
Southville, Wandsworth road, S
Streatham, S
Sussex place, Plumstead, SE
Sydenham, Lower, SE
Tooley street, SE
Tooting, S
Turnham Green, W
Twickenham, SW
Upper Baker st., NW
Vauxhall, S
Victoria Docks, E
Waltham Green, W
Waltham cross, N
Walthamstow, NE
Wapping, E
Westow hill, Norwood, S
Wimbledon, SW
York road, King's cross, N