DEPOSITORS' DEPARTMENT
The original Rules of the BMB, consequent upon the Bank being set up under the Birmingham Corporation Act of 1919, listed three objectives
for the Bank:
(a) To receive deposits and to guarantee the payment of interest on and the repayment of such
deposits.
(b) To advance money to any depositors desiring to purchase or acquire a dwelling house or dwelling houses in the City of Birmingham, or any interest therein.
(c) To utilise and invest the funds of the Bank in accordance with the Act and the regulations made thereunder, or such other regulations as may be made as therein provided.
These
Rules, in relation to objectives (a) and (b), referred to the 'Savings Bank Department' and the 'Housing Department', respectively.
The 1919 Rules were subsequent to the Bank's 'Savings and Housing Bank Regulations' (approved by the Treasury: August 25th 1919).
These regulations were subsequently supplanted by The Birmingham Municipal Bank Regulations of 1925 which formulated the rules regarding
each of these two departments in two separate sections, now called:
the DEPOSITORS' DEPARTMENT; and
The DEPOSITORS' DEPARTMENT was created with a single product - a simple, passbook-based,
savings account. This product was the only savings account provided by the Bank until 1957. Further products did not follow until
the 1970s. Confusingly, each of the products was identified as being a Department; the original product eventually becoming known
as the No 1 Department, the tax-concession product introduced in 1957 is known as the No 2 Department, etc.
The history relating
to the Deposit accounts, and details of how they operated, is described in the following sections:
Account Types
Overview of the various Savings and Investment products offered by the Bank
Overview of the various Savings and Investment products offered by the Bank
Account Conditions
Details of the limits governing Deposits and Withdrawals etc
Details of the limits governing Deposits and Withdrawals etc
Numbering of Accounts
Details of the systems used to number depositors' accounts; and for the identification of branches
Details of the systems used to number depositors' accounts; and for the identification of branches
Examples of entries in Ledgers used by the temporary wartime
bank
Depositors' Ledgers (Birmingham Municipal Bank) - extracts from the early bound Ledgers of:
The history of the introduction of a mechanised posting system into the larger branches of
the Bank,
commencing with the Aston Cross and Balsall Heath branches in May 1930
Examples of
passbooks issued to depositors in the original (No 1) savings department
An example of the type of
passbook issued to depositors in the new department opened on April 1st 1957
An example
of the type of passbook issued to depositors in the new department opened on January 1st 1967
Two
Passbooks for Account Number HO 36601 (1926 - 1948) and examples used for 'Head Office X Accounts'
Passbook
for Account Number AR 470 (1927 - 1939)
Passbook for Account Number AD 4976 (1931 - 1957)
Passbook
for Account Number L603T (1961 - 1970)
Passbook for Account Number G4667 (1920 - 1942)
Examples of stationery issued to customers that was used to record their transactions
Interest Calculations
Description of method used prior to computerisation
Description of method used prior to computerisation
Interest Rates
Record of Interest Rates Paid and the 'Bank Rate'
Record of Interest Rates Paid and the 'Bank Rate'
Committee report regarding two wartime issues of importance to depositors
Introduction
of the No 2 Department
How the tax-concession product came into being
How the tax-concession product came into being
A
1934 report that contemplated the introduction of a facility provided by other savings banks
Branch Accounting and Procedures
Description of Accounting Procedures at Branches
Description of Accounting Procedures at Branches
Accounts of Deceased Depositors
How the Bank dealt with the accounts of Deceased Customers
How the Bank dealt with the accounts of Deceased Customers
Nominations
The system that enabled Depositors to nominate a person to receive a sum on death
The system that enabled Depositors to nominate a person to receive a sum on death
Administration
of 1919 Regulation 35 (3) -
How the Bank dealt with applications for withdrawals from this type of account in 1925
to 1927
How the Bank administered these
types of account
The system whereby employees' salaries, wages, and deductions from wages, were
paid directly into depositors' accounts
An early version of the Direct Transfer Scheme
that was implemented for Cadbury employees
Growth of Balances
Statistics re Total Deposit Balances
Statistics re Total Deposit Balances
Department Balances: 1957
to 1979
Analysis of Balances subsequent to the opening of the No 2 Department in 1957
Analysis of Balances subsequent to the opening of the No 2 Department in 1957
