POSTAI, SAVINGS BANK 7I 



It therefore serves those exclusively who have current accounts with 

 the post office. It is quite useless in the case of those countries which have 

 not yet started such a service for themselves. With respect to these 

 limitations, we may say that the service is completed by the second form 

 of organized international service, that of the postal bank service. This 

 is working between the postal departments of Austria, Germany, Switzer- 

 land, Hungary and some foreign banks in various countries. In accordance 

 with special agreements, these banks serve as intermediaries for all those 

 who have to do business in connection with postal cheque accounts in 

 Austria, Germany, Switzerland and Hungary. The operations may be 

 conducted either by means of money or by transfer of current accounts 

 between the Bank and post offices. 



The cheque and clearing service was organized in 1906, between Austria 

 and Germany, by means of the Berlin Deutsche Bank; in 1907 between Austria 

 and Switzerland, by means of the Schueizerische Kreditanstalt of Zurich ; 

 between Austria and Italy, by means of the IVIilan Banca commerciale ita- 

 liana ; between Austria and Great Britain, by means of the I^ondon branch of 

 the K. K. priv. Osterreichische Ldnderhank ; in 1908 between Austria and 

 France, by means of the Societe Generale pour favoriser le developpement du 

 Commerce et de Vlndttstrie of Paris ; in 1909 between Austria and Belgimn, 

 by means of the Societe Generale de Belgique of Brussels. 



The operations in connection with the service are conducted by the 

 Viennese Postal Savings Bank and the above mentioned other Banks, 

 their branches and agencies, and the credit institutes in other countries 

 in relation with these banks. 



Deposits may be made in cash into current accounts at the Vienna 

 Savings Bank, either by means of the direct payment of the amounts 

 into the Banks or their branches or by despatch of these amounts through 

 the post. 



For deposits in cash, special deposit certificates (Erlagserkldrungen) are 

 used, blue for Germany, red for Italy, yellow for England, Scotland and 

 Ireland; light brown for Switzerland. The holders of current accounts 

 may buy them at 2 heller a piece, at the Postal Savings Bank Office 

 which has already been supphed with the stamp of the firm, the name 

 of the depositor and the number of the cheque account in question. 

 These certificates are sent by the depositors to their correspondents 

 abroad. The latter then make the deposits in the Banks or their 

 branches by means of these certificates. 



In the Banking Service, deposits may also be made by means of a trans- 

 fer of credit from current account in the banks indicated or other credit 

 institutions in relation with them. In the latter case, the credit institutes 

 make transfer in favour of the banks, to which, at the same time, the 

 holder of the account forwarding the money indicates directly the holder 

 of the current account in the Vienna Postal Savings Bank to be paid, so 

 that the transfer may be definitely arranged. 



Payments in behalf of holders of current accounts of the Vienna 

 Postal Savings Bank are made, as in the case of the home service, by means 



