Irish Post Office Savings Bank
I knew I had it somewhere.
I’ve just found my old Post Office Savings Bank book from Ireland.
Banc Taisce an Phoist.
I started it in 1974 with a deposit of 1 Irish pound. Not too much activity but by the summer of 1979 I had amassed the total of 6 quid.
And then I withdrew £5.50.
So I still have 50p. (p - what’s p?)
Pre-euro. At 4% interest per annum compounded over 28 years, I reckon the Irish Government owes me the equivalent of IR£1.50. At the conversion rate of 1 euro being equal to 0.787564 IEP (when the Irish Pound was replaced by the euro), I reckon that means I’m owed €1.90.
Now what can I buy with that?
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Eolaí gan Fhéile:
Well, Eolaí, I ran the numbers though my Cray (a few times, just to be sure) and what you can buy is a one way bus ticket to the post office to collect it.
So it would be quicker to wait until I’m old enough for the free bus pass than to wait for it to accumulate to the total of a return bus ticket?