school savings bank help

comptoncath

can anyone help me. I have found an old savings book from when I was at school and it has money in it. It is the school savings bank part of the national savings committee. I went to the national savings and investments and have had a letter from them saying it is nothing to do with them. I have contacted the school but they say that they do not have records for anything like this as the last time I paid in was 1979. Have registered with the lost money website but just wondering if anyone has any idea as to how to reclaim this money and 30 years of interest

barak

I don't know how much you had saved, but I doubt whether it would have earned much interest even if your records could be found. :sad:

I would have thought that National Savings & Investments should know what happened to the affairs of the National Savings Committee, which was wound up in March 1978, as it was part of the National Savings movement. I would guess that your money might either have been returned to you or else transferred to one of those old Post Office Savings Bank Books, which people still occasionally discover in their loft.

The following won't really help - but there are apparently some records about the National Savings Committee archived at the Public Record Office, Kew - not accessible online.

http://webcache.googleusercontent.com/search?q=cache:7Bhmte6BjN8J:discovery.nationalarchives.gov.uk/SearchUI/Details.mvc/Collection/%3FiAID%3D218%26cref%3DNSC+%22national+savings+committee%22&cd=5&hl=en&ct=clnk&gl=uk&source=www.google.co.uk

"The aim of the National Savings Committee was to maintain throughout England and Wales an organisation to encourage the public to save by investment in national savings securities and deposits in the National (formerly Post Office) and Trustee Savings Banks.
Until 1969 the committee was directly responsible to the Treasury, which issued the securities with which the committee was mainly concerned: national savings certificates, national development (formerly defence) bonds and premium savings bonds.
The National Committee, assisted by committees at national and regional levels dealing with particular aspects of its work, controlled the activities of some 1300 local savings committees whose function it was to organise publicity for national savings and to promote the formation of savings groups run by voluntary workers.
In 1969 the civil service staff serving the National Savings Committee were integrated with the staff of the new Department for National Savings which had replaced the former Post Office Savings Department when the Post Office Corporation was established under the Post Office Act 1969.
From 1976, as part of the government's programme to reduce Civil Service manpower, staff support facilities provided by the Department for National Savings were withdrawn. In the light of this, the National Savings Committee decided it could no longer function effectively and the organisation was finally wound up in March 1978."

"Department for National Savings
The business of the Post Office Savings Department was transferred to the Department for National Savings by the Post Office Act of 1969. The Act also provided for the integration of staff serving the National Savings Committee with staff of the Department for National Savings.
Hence, under the Post Office Act 1969, the new Department for National Savings was created and took over from the Post Office the administration of the Post Office (thereafter, National) Savings Bank and the Premium Savings Bonds and National Savings Stock Register Offices. It also took over the Savings Certificate Office and assumed responsibility for the 'Save as You Earn' scheme introduced on 1 October 1969. The new department was also given responsibility for providing support for the National Savings Committees for England and Wales and for Scotland and for the national savings movement generally, the civil service staff formerly attached to the National Savings Committee being transferred to it for this purpose. In 1978, as a result of a government decision, these support arrangements came to an end."

tiff

Sorry for off topic but I've always thought they should reintroduce something similar to encourage kids to save. I remember going into school with and banking money, think it was the trustee savings bank (TSB).

Milarky

@barak,

Great info from the Britain of yesteryear. Thanks for sharing. It sound even better read with Pathe News playing in the background