The deposits made in any year ending 31st December must not exceed £30, and when a depositor has lodged in all £150, not counting interest, she is not allowed to lodge any more till she has reduced the sum standing at her credit. If she chooses to let it lie, it will, of course, by the addition of interest, increase every year. When it reaches £200, however, no more interest is allowed till some of the money is withdrawn.
When a depositor wishes to withdraw any money, she fills up a notice of withdrawal, to be had at any Post Office Savings Bank, and forwards it to the Savings Bank Department in London. She then receives by post a warrant, which she should present with her book at the post office where payment is to be made.
Once in every year, on the anniversary of the day on which the first deposit was made, the deposit book should be forwarded to the Controller of the Savings Bank Department in London, that the entries may be checked, and that the sum due for interest may be added. When sending the book, do not pay postage: all communications on Savings Bank business go free.
Deposits may be made by married women, and in that case their husbands have no control over the money. They can draw from it when they please, and bequeath it by will to any person they choose.
The Post Office Savings Bank adapts itself to saving on the smallest scale. If a girl can only save a penny at a time, she can with the penny buy a stamp, and the stamp she can stick on a form with twelve divisions, supplied by the Post Office. When she has in this way saved twelve stamps, she must take it to the post office, and have the shilling entered in a regular bank account.
But the Post Office undertakes more business in connection with money than merely storing it up against a rainy day. Of that, however, we shall speak in our next article.
(To be continued.)
A SONG FOR THE OLD YEAR.
By M. M. POLLARD.
A tale of the past, a tale of the past!