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i have a old irish post office account 1958
bubba182237
Posts: 11 Forumite
I hope I am in the right forum
I have found a old irish post account from my mother
1 first open in 1958
2 last time it was used was in 1977
3 approx £30 in account
4 I know it was never closed
5 I have sent details to the irish post office I am waiting for a reply
6 has anyone any info on how much this is worth now
7 is it worth me trying to get back what was in it in 1977 £30
any info would be good
I have found a old irish post account from my mother
1 first open in 1958
2 last time it was used was in 1977
3 approx £30 in account
4 I know it was never closed
5 I have sent details to the irish post office I am waiting for a reply
6 has anyone any info on how much this is worth now
7 is it worth me trying to get back what was in it in 1977 £30
any info would be good
0
Comments
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bubba182237 wrote: »I hope I am in the right forum
I have found a old irish post account from my mother
1 first open in 1958
2 last time it was used was in 1977
3 approx £30 in account
4 I know it was never closed
5 I have sent details to the irish post office I am waiting for a reply
6 has anyone any info on how much this is worth now
7 is it worth me trying to get back what was in it in 1977 £30
any info would be good
Well if it's 30 Irish pounds, that currently will only get you £28 sterling.0 -
do I get interest on the money that was in there if I do then I would try and get it back0
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It'll depend on what rate that account was paying at the time and in the intervening years I guess. They might have notched it down to near zero now, but the several years after it might have been earning a reasonable amount. You wont be a millionaire as a result!bubba182237 wrote: »do I get interest on the money that was in there if I do then I would try and get it back0 -
This depends on whether this account was paying interest in 1958 and kept paying it later. Unless it was a savings account the interest rate was most likely close to zero.
0.5% over 55 years is ~31%, but it might be a very optimistic expectation.0 -
thank you any info I welcome0
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on back of the book it says
interest at the rate of £2 10s per cent per annum on every complete pound at the end of the year
what does mean any ideas0 -
2.5% on whole pounds...The questions that get the best answers are the questions that give most detail....0
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I understand how £2 transforms to 2%.
Can you explain 10s and 0.5%?
It takes 2.5% 28 years to double the balance.0 -
this was in the back of the post office saving book I have the original from 1958 I think that would be the old irish money £2 10 s I just want a idea if I would get any interest from £30 and how much ????0
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Well, if it was 2.5% that time then you will definitely get some interest.
However, nobody here can tell you how much.0
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