Friday, August 01, 2003

The end of savings-booklets at post offices

The possibility of saving money by going to the post office, depositing money and receiving a book entry in a separate savings booklet in the Netherlands formally exists since a Royal Decree of 28 December 1875 (published in the State Newspaper Nr 250). But as of this week, this possibility is history. The Postbank (now responsible for these savings booklets) has ended offering this product, with 500.000 booklets remaining at unknown locations. See also the article at

But although the savings booklets now disappear, the savings mentality of the Dutch will not be gone as rapidly. Savings banks started as early as 1820 and 'hammered in' the concept of saving for later for a mere 150-180 years. Which is still reflected in all the different kind of savings coupons and programs in the Netherlands.