Where are my old RAF savings?
I had an RAF savings account with the Post Office and withdrew a large proportion of it for my wedding. The account wasn’t closed properly and I have been trying to recover what is left without success. WT, POWYS
You believed you still had four shillings and 10d, which the Post Office had been holding for 51 years.
RAF Savings Books were operated through the British Forces Post Office, which was at the time closely tied to the Post Office Savings Bank (now National Savings & Investments).
In 1969 all Post Office accounts were closed as the bank was transferred to HM Treasury. The account was then moved to the Residual Account and, following the National Savings Bank Act 1971, interest would not have been paid as your balance was less than £1.
Further to my involvement, NS&I traced the account and paid what was now, post decimalisation, 24p by crossed warrant.
A form to recover investments from the Residual Account can be downloaded from nsandi.com.