asked the Minister for Posts and Telegraphs if he will make a statement regarding the unclaimed funds or moneys in saving accounts in his Department, indicating what measures are taken to establish ownership and to whom the interest, if any, is payable.
Ceisteanna—Questions. Oral Answers. - Unclaimed Money.
160.
I assume that the Deputy's question concerns Post Office Savings Bank accounts in respect of which there have been no deposits or withdrawals for a long time.
No special measures are taken regarding such accounts except where it comes to the notice of the Department that the depositor has died, in which event claim forms are forwarded to his family or representative for completion.
Interest allowed on a deposit in the Post Office Savings Bank is added to the account at the close of each calendar year after which it becomes part of the principal. The question of making interest payments does not therefore arise.