SAVINGS BANK CHEQUES.

Auckland Star, Volume LIV, Issue 182, 1 August 1923, Page 8

SAVINGS BANK CHEQUES.

SUGGESTION IN PARLIAMENT. (By Telegraph.—Parliamentary Tleporter.) WELLINGTON, Tuesday. The anxiety expressed on the faces of the paying out tellers in the Post Office Savings Bank indicates the strain on them in making sure they give cash to the right persons, declared Mr. W. Veitch (Wanganui) during the discussion on the Savings Bank Amendment Bill. He advocated the introduction of cheques for Post Office depositors, and pointed out that cheques would offer just those facilities that would increase the Post Office bank's business with people in the country districts. Mr. T. M. Wilford, Leader of the Opposition, strongly supported the introduction of cheques, tout said that it would require the repeal of the 2d stamp duty on cheques, otherwise it would be no use giving facilities to depositors. It would be iniquitous to have a duty of 2d on every cheque used in the Post Office.

Mr. Wilford pointed out that there was really no difference between, a withdrawal slip and a cheque, but in the Post Office Bank the passbook had to be produced and the transaction entered, therefore the whole point was whether the book should be sent in to have the entry made?

Mr. M. J. Savage said that all tilings being equal the depositors would' not flow into an institution where no interest was paid as against the Government institution where interest was paid, but the inequality was that depositors had to go personally to the Poet Office and spend about twice as long' in getting money as they would in a private bank. Mr. Massey said he would not take exception .to . anything that would popularise the Post Office Bank, which was an extraordinarily popular institution.

The bill was reported with minor amendments, read a third time and passed.