From Postal Giro to Postbank and Beyond
The present Postbank was created by the merger of the former Post Office Savings Bank (Rijkspostspaarbank) — founded in 1881 — and the Postal Giro Service (Postgiro) which began üfe in 1918. From the outset, the Postal Giro occupied a very strong position in the giro transfer payments system. The administration was largely manual, however, and the labour-intensive processing meant that the Postal Giro was unable to keep pace with the demand for new Giro accounts. The National Savings Bank, whose strength lay mainly in an arsenal of some 5 million savings books representing in 1960 total savings of 2.5 billion guilders, was undeniably lacking in commercial zeal.
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