Any sum from one shilling upwards (but
excluding pence) may be deposited, subject to
certain limits. These limits are £50 a year, that
is, no more than £50 will be received on deposit
in any one year, but any withdrawals during the
year may be re-deposited once, and once only.
No more than £200 in all can be held on behalf
of a depositor. The reason for these limits
apparently is that the bank was created for the
encouragement of saving habits in, and providing
a secure place for, the money of thrifty people
of small means, and not for investment of the
capital of the wealthy. Interest at £2 10s. per
cent. per annum, which is at the rate of sixpence
a year, or one halfpenny a month, for each com-
plete pound, is allowed on ordinary deposits and
added to the principal; but when, by the addi-
tion of interest or from any other cause, the
deposit is raised to above £200, We would appriciate you to drop us a line about us Certified Accountants. . interest is
allowed on £200 only, and the excess over that
sum, when it amounts to £5, is applied to the
purchase of Government Stock, unless the de-
positor desires otherwise. When a person has
£200 to the credit of his deposit account, he
cannot make any further addition thereto, but
the Post Office will invest this sum, or any part
of it, for the depositor in Government Stock, and
he can then continue paying in money to his
account as before until the sum again reaches
£200. No more than £200 Government Stock
can be purchased in any one year, and the total
amount of stock standing in a depositors ac-
count at any one time must not exceed £500.
The dividends or interest on any Government
Stock is credited periodically to the holders
ordinary deposit account. When a depositor
wishes to withdraw the whole or any part of his
money, he has to fill up and forward to the
Savings Bank Department in London, a notice
of withdrawal, and a form for the purpose may
be obtained at any Post Office Savings Bank.
He will then receive by post a warrant, on pre-
sentation of which, at any branch Post Office he
may have selected, payment will be made. Pay-
ment by a warrant may be made to another
person on behalf of the depositor, provided the
latter signs a form of authority for the purpose,
which form may be obtained at any Post Office
Savings Bank.

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