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Post Office Savings Bank (Public Trustee) Act 1908
Post Office Savings Bank is a name used by postal savings systems in several countries, including: * New Zealand, later renamed the PostBank * United Kingdom, later renamed the National Savings and Investments * Singapore, later renamed POSB Bank * Kenya, also known as the Kenya Post Office Savings Bank * Austra, also known as the Österreichische Postsparkasse * Zimbabwe, later renamed the People's Own Savings Bank People's Own Savings Bank (POSB), is a savings bank in Zimbabwe. It is one of the financial institutions, licensed and supervised by the Reserve Bank of Zimbabwe, the national banking regulator. , POSB had total assets valued at US$133.7 millio ... Note that some of these institutions are no longer affiliated with a postal service, often as a result of privatization. {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Postal Savings System
Postal savings systems provide depositors who do not have access to banks a safe and convenient method to save money. Many nations have operated banking systems involving post offices to promote saving money among the poor. History In 1861, Great Britain became the first nation to offer such an arrangement. It was supported by Sir Rowland Hill, who successfully advocated the penny post, and William Ewart Gladstone, then Chancellor of the Exchequer, who saw it as a cheap way to finance the public debt. At the time, banks were mainly in the cities and largely catered to wealthy customers. Rural citizens and the poor had no choice but to keep their funds at home or on their persons. The original Post Office Savings Bank was limited to deposits of £30 per year with a maximum balance of £150. Interest was paid at the rate of 2.5 percent per annum on whole pounds in the account. Later, the limits were raised to a maximum of £500 per year in deposits with no limit on the tota ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
