HC Deb 14 July 1899 vol 74 cc879-80
GENERAL LAURIE (Pembroke and Haverfordwest)

I beg to ask the Secretary to the Treasury, as representing the Postmaster-General, what provision is made by the authorities of the Post Office Savings Bank, by communication with the depositors, for ensuring that the accounts are correctly kept and the balances to credit correctly recorded; whether any communication ever passes between the depositors and the Department to verify the accuracy of the account; and, if no such communications are exchanged, whether he will consider the desirability, of adopting some such system as that of sending a statement annually to each depositor showing particulars of his account and asking him to return such statement certified as correct or the reverse.

MR. HANBURY

It is one of the regulations of the Post Office Savings Bank, framed under Act of Parliament, 24 Vict. c. 14, that "every depositor shall once in each year, on the anniversary of the day on which he made his first deposit, and at any other time when required by the Postmaster-General, forward his book to the Controller of the Post Office Savings Bank, in a cover to be obtained at any Savings Bank office, in order that the entries in the said book may be compared with the entries in the books of the Postmaster-General and that the interest due to the depositor may be inserted in his Book." Such requirement is printed on the depositors' books, and other means are taken to remind depositors who neglect to forward their books. The examination of the deposit book at the chief office affords a more complete safeguard against all kinds of error than the plan suggested in the last paragraph of the hon. Member's question.

GENERAL LAURIE

What other means are taken to remind depositors who neglect to forward their books?

HANBURY

Whenever any amount is paid through a local office it is sent direct to the central office, and the depositor is informed of the amount actually received.

MR. BARTLEY (Islington, N.)

Is it not the case that in spite of the fact that hundreds of millions of transactions have taken place the losses have been infinitesimal?

MR. HANBURY

Yes, in all these years the losses have amounted to only £12,000.