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A certificate of a $5 deposit in the United States Postal Savings System issued on September 10, 1932. The United States Postal Savings System was a postal savings system signed into law by President William Howard Taft and operated by the United States Post Office Department, predecessor of the United States Postal Service, from January 1, 1911, until July 1, 1967.
This 1869 deposit book would be carried by the customer, and is a typical record of a British Post Office Savings Bank savings account.. In 1861, Great Britain became the first nation to offer such an arrangement.
The best savings account is offering 5.00% APY. Check out our list of the top high-yield savings accounts today, February 18, 2025
The Post Office Savings Bank introduced passbooks to rural 19th-century Britain. Traditionally, a passbook was used for accounts with a low transaction volume, such as savings accounts . A bank teller or postmaster would write the date, amount of the transaction, and the updated balance and enter his or her initials by hand.
Savings interest rates today: Yes, you can still find APYs of up to 4.75% post-Fed rate pause — February 3, 2025
Traditional savings accounts often have lower interest rates, while high-yield savings accounts (HYSAs) — offered by many digital and online-only banks — can pay 10 to 20 times more. These ...