Page 294 - Jamaica Post Office Guide 1977

294 POST OFFICE GUIDE

Workers Savings and Loan Bank, contd.
Opening an Account
An account may be opened with a deposit of not less than two dollars and
any future deposits must not be less than Two Dollars. The method of opening
an account is very simple. The depositor fills up a lodgment form and furnishes
a specimen signature which should be duly witnessed by a Justice of the Peace,
Minister of Religion, Postmaster, or some other responsible person.
Account can be readily opened and operated by persons residing abroad by
making written application to the Manager.
Pnssboaks
A passbook, showing the amount deposited, is issued immediately at the
Bank’s headquarters, or within a few days of the deposit made at a Branch.
The passbook must be presented with every subsequent transaction for the
amount to be recorded therein. Depositors are requested to see that every
transaction, deposit or withdrawal is correctly entered in the passbook and also
to ensure the safe-keeping of passbooks, the number of which should be privately
noted for reference.
If a passbook is lost, the loss should be reported immediately to Head Office
and the number of the book quoted. A charge of twenty cents will be made for
advertising the loss of the pass 3cok. A charge of twenty cents is also made for
replacing a mutilated passbook. Passbooks should be sent to Head Office as
soon after the 31st March and the 30th September in each year, as is possible,
in order that interest may be entered therein.
Deposits
Deposits (and withdrawals) may be made at the Head Office or any branch
of the Bank irrespective of where the account was opened. The balance that
may be held to the credit of any one account is not limited. Deposits may be
sent to Head Office by free registered post; the passbook must accompany all
such deposits. Deposits may be transferred from one account to another, and
to or from the Post Office Savings Bank in the United Kingdom.
Form in which Deposits are accepted
Deposits are accepted in Jamaican Currency or other legal tender including
Cheques, Bank Drafts, Payable Orders, British Postal Order, Post Office Money
Orders or Dollar Bills (United States and Canadian). Cheques, Drafts or Orders
should be made out in the name of the Depositor or the Manager of the Workers
Savings and Loan Bank.
Schools’ Savings Programme
This system is intended to help children primarily to save small units of as
little as 1 cent at a time by joining a school's savings programme and making
lodgments in a school’s savings account book at the school.
Withdrawals
At Head Office —A depositor, may on demand, withdraw a part or the
whole of his deposit, subject however to the right of
the Manager to demand from any depositor fifteen
days notice of any withdrawal.
At Branches —Depositors may on demand, withdraw up to $£0.00
in any one Bank day. A depositor wishing to with­
draw more than $50 must inform the Clerk in Charge,
who will communicate with Head Office by telegram,
with a view to payment being made at the earliest
possible time.