HC Deb 30 June 1908 vol 191 cc573-4
MR. J. MACVEAGH (Down, S.)

I beg to ask the Postmaster-General whether any separate record is kept of unclaimed balances standing to the credit of depositors in the Post Office Savings Bank, and, if not, will he explain why this is not done; whether the accounts are audited, and, if so, what difficulty arises in ascertaining the total; whether any, and, if so, what, steps are taken to make known to possible heirs the existence of these unclaimed balances; and whether he can state in what manner they are disposed of.

MR. SYDNEY BUXTON

The experiment has been made from time to time of keeping a separate record of such Post Office Savings Bank accounts as appeared to have been abandoned by depositors; but practically every case in which the balance was worth considering had to be re-transferred to the active ledgers. The separate record is now restricted to accounts in which the balance due is less than £1. Many depositors leave their savings untouched for years; and as the Post Office Savings Bank was established in the year 1861 only, it would not be right to assume, from the absence of transactions in an account, that the depositor is dead. Every assistance is given to persons claiming to be the representatives of deceased depositors.

MR. J. MACVEAGH

Can the right hon. Gentleman tell us how many of these accounts have been dormant for a period of ten years and upwards?

MR. SYDNEY BUXTON

I do not think that would convey any information that would be of value for the reason given—namely, that in the case of the Savings Bank depositors' accounts are left for very many years without being touched.

MR. J. MACVEAGH

But surely there is a large number of accounts which have been dormant for ten years or upwards which have lapsed altogether?

MR. SYDNEY BUXTON

That is not our experience. We should not consider that they had necessarily lapsed.

MR. J. MACVEAGH

Does the right hon. Gentleman not consider that he is setting a very bad example to the other bankers of this country when a Government Department refuses to supply to the House of Commons——

MR. SPEAKER

Order, order. That is a matter of opinion.