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Dáil

Ceisteanna—Questions. Oral Answers. - Post Office Savings Bank.

asked the Minister for Finance if he will make arrangements for the introduction of a system whereby withdrawals by depositors from post office savings accounts could be operated by means of cheques somewhat similar to the system in operation in banks; if he will make arrangements for the issuing of travellers' cheques to post office savings account depositors; and if he will introduce an account-paying service and any other new service to compete with commercial banks.

Comment on this
Frank Aiken Minister for External Affairs (Mr. Aiken) (for the Acting Minister for Finance) Fianna Fáil

The present arrangements for making payments by cheque and bank transfer and for the issuing of travellers' cheques appear to be adequate, and I see no reason why the savings banks should enter these fields.

Comment on this

Is the Tánaiste under the impression that everybody who has a deposit in the Savings Bank has a cheque book and that he can withdraw money just as easily as he would from a bank?

Comment on this

It would mean a complete reorganisation of the post office service.

Comment on this

Would the Tánaiste not consider it might be a good idea to consider it very fully, because if there is a public demand for it— and I believe there is—it should be introduced.

Comment on this

It has been considered.

Comment on this

Not very fully, I would say.

Comment on this

Fully, yes.

Comment on this