HC Deb 23 February 1949 vol 461 cc1846-7
35. Sir Robert Young

asked the Postmaster-General whether depositors in the General Post Office Savings Bank having reached the limits of deposits are still allowed to have their investment dividends sent direct to the bank by building societies, etc.; and whether these amounts of investment interest are acknowledged as at present, credited to the depositor's account with the additional interest from the bank over the amount due on the permitted limit of deposit.

Mr. Wilfred Paling

Under the Savings Bank (Limit of Deposits) Order, 1946, the limits of amounts of deposits do not operate to prevent the crediting to the account of a depositor in the Post Office Savings Bank of dividends on Government stock and bonds held by him on the Post Office Register. Other dividends are not so exempted.

Sir R. Young

Does that mean that for other dividends a statement is sent that the dividend has been received and must be withdrawn?

Mr. Paling

I take it that that is the procedure.