Bringing an old PO savings account up to date ?

4jbl7

Wife has just discovered that she has 50p in a PO Ordinary Savings Account, last updated in 1981. What might it be now worth (bottle of wine perhaps ?) and would the PO charge for bringing it up to date ?
Thanks

4jbl7

Welliesorter

Is this a National Savings Ordinary Account? This is an old type of basic bank account that used to be operated at post offices. If I remember rightly, the books were bright blue and had a logo of a key on the front. This was long before the days when Post Office accounts were operated by the Bank of Ireland. I didn't have one but I did have an Investment Account which had a silvery grey book.

The interest rates on ordinary accounts have never been very high. See http://www.nsandi.com/interest-rates/index.jsp

The same web site may be a good starting point to see whom to contact to bring the account up to date.

p00pieb0tt0m

The Ordinary account was discontinued about a year ago. You should be able to get a form to close your account from any post office, although you may have better luck at a bigger office. The form is called something like 'application to close a residual account'. You should be given a envelope aswell for NSI in Glasgow.

4jbl7

Thanks for that info'.
Yes it is the bright blue book with the key logo so I'll pop into the PO and get the form and envelope.

Cheers

4jbl7

edda

I don't think amounts below £1 accumulate any interest.

Someone in my family can beat this for old accounts.

The Post Office Savings Bank book he has dates from Feb 1956 and has £2 in it. Not only this - the separate receipt that he got before the book was posted to him also still exists.

sapper64

Talking about old bank books i have my dads book in my possesion he died in 1952, there is one pound one and sixpence in from may 1947.