Post Office Savings Bank (Savings Accounts) Rules
Table of Contents
PRELIMINARY
1 Citation
2 Definitions
TYPES OF ACCOUNTS
3 Personal accounts
4 Joint accounts
5 Trust accounts
6 Public accounts
7 Conjoint accounts
8 Operation of account under power of attorney
NEW ACCOUNTS
9 Opening of an account
10 Bank may impose conditions
11 Particulars to be submitted to Bank
12 Passbook and Passcard and depositor’s specimen signature
12A Linkage to ATM service
13 Linkage to POSBline
14 Trading companies, etc.
15 Minimum balance
DEPOSITS
16 Minimum deposit
17 No limit to amount of deposit
18 Discretion to accept deposits
19 Cheques, money orders, etc.
20 Deposits by gift vouchers
21 Record of transactions
21A Correspondence with depositors
22 Statement of account
INTEREST
23 Method of calculating interest
24 Crediting of interest
WITHDRAWALS
25 Withdrawals on demand
26 Withdrawal entry
27 Service charges, etc.
28 Payment to Bank on demand
29 Set off
30 Withdrawals of less than a dollar at branches
31 Limits to withdrawals
32 Notice of withdrawals
33 Withdrawals only by committee on behalf of a person of unsound mind
34 Withdrawals from joint passbook accounts
35 Withdrawals from joint Passcard accounts
36 Withdrawals from trust accounts
37 Withdrawals from public and conjoint accounts
38 Withdrawals by cashier’s order
39 Disputes involving joint accounts
40 Bank’s discretion to pay depositor
41 Withdrawals include transfers
CLOSING OF ACCOUNTS
42 Closing of an account
TRANSFER OF DEPOSITS
43 Application for transfer
44 Effect of a transfer
PAYMENT FROM ACCOUNT OF DECEASED DEPOSITOR
45 Payments of deposits to personal representatives of a deceased depositor
46 Withdrawal for payment of estate duty
47 Payment of deposits of up to $10,000 to persons other than personal representatives of deceased depositor
48 Payment to Public Trustee
49 Proof of death of depositor
MISCELLANEOUS
50 Loss of passbook and Passcard
51 Passbook or Passcard that has been tampered with
51A Power of Bank to exempt account-holder from certain rules
52 Rules available for inspection
53 Existing accounts
Legislative History