A History of Banks for Savings in Great Britain and IrelandLewins, William
History
A History of Banks for Savings in Great Britain and Ireland
Lewins, William
Postal savings banks -- Great Britain; Savings banks -- Great Britain
Any person wishing to become a depositor in a Post Office Bank has
only to go to that Money Order Office which is most convenient to him,
subscribe the statutory declaration, and pay in to the postmaster or
receiver the amount he wishes to deposit, and a bank book will be
handed to him, properly numbered, and on which his name, address, and
occupation will be written. The amount handed to the postmaster will
be found entered as a first deposit in the proper column of the book,
and this entry will be attested by the signature of the postmaster,
and stamped with the official stamp of his office. From the moment the
depositor gets his book handed to him he possesses, for all practical
purposes, a sufficient guarantee for the absolute safety of his money.
This is, however, not the only security he has; and to explain the
further process it is necessary to follow the money after it leaves
the depositor's hands. The postmaster before giving up the book is
required to enter the full particulars of the transaction in a single
line on a Form of daily Savings Bank account supplied to him for the
purpose. At the close of each day the local postmaster adds up the
total amount received by him during that day on Savings Bank account,
and, adding that sum to the account of Money Orders issued during the
same day, sends the entire account to the chief Money Order Office in
London. On its arrival at this office the account undergoes a primary
check, and is then sent to the Savings Bank department, where it is
thoroughly examined in all its details. In the first place, an
acknowledgment is filled up and addressed[186] to every depositor
named in the account. The account is then sent to the ledger branch,
where its particulars are copied into the books of the department; and
subsequently, but on the same day, to ensure accuracy and afford a
check, each acknowledgment is compared by different officers with the
entries made in the ledgers, and then despatched by the same night's
post to the address furnished by the depositor.[187]
Public-domain text, read in full here on John Shaqi.
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