Explanatory note

These Regulations, which amend the National Savings Bank Regulations 1972 with effect from 31st January 1983, increase from £100 to £250 the amount of ordinary deposits which a depositor may withdraw from a savings bank office in any one day without previous notice where he is making use of one of two new facilities. Under the “Paybill” facility a depositor will not be able to obtain any increased sum in cash but will be able to withdraw up to £250 for the purpose of making immediate payments through the Post Office. Under the “Regular Customer Account” facility a depositor may apply to the Director of Savings for the designation of a savings bank office which the depositor has used at some time during the six months before his application. Such a designation will enable the depositor to withdraw up to £250 in cash at the savings bank office from the account specified in the designation.