SAVINGS BANK LETTERS OF CREDIT.
All'. J. Newton, local postmaster, lias supplied us with the following information, which will be found of special interest to depositors during the current holiday period. A savings bank depositor in New Zealand requiring funds at anyone or more of the several places in New Zealand at which there are branches of the Post Office Sayings Bank, may purchase a lettef of credit for a sum not exceeding' £SO. The charge for this is the' rate of commission on a innoey-or-der Tor a similar amount. The holder may then present the letter of credit at any of the various savings bank offices and obtain such moneys as he may require within the limits authorised.
As it is necessary for the local Post Office to obtain these letters of credit from their chief offic (Palmerston North), depositors are advised to make application fortyeight hours before a letter of credit is required.
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https://paperspast.natlib.govt.nz/newspapers/MH19251217.2.22
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Manawatu Herald, Volume XLVII, Issue 2976, 17 December 1925, Page 2
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155SAVINGS BANK LETTERS OF CREDIT. Manawatu Herald, Volume XLVII, Issue 2976, 17 December 1925, Page 2
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