Terry Leyden (Fianna Fail) | Oireachtas source

The point is not about my account. It is about the accounts that people have. Yesterday, I was under the impression that my account was dormant. It was not dormant; it was inactive for 36 months. If an account is inactive, the account holder must get it updated by producing his or her passport or identification accounts. Also, a dormant account is one that is 15 years inactive.

Yesterday, I wanted clarification. It is important when a Senator speaks in this House that, if he or she does not have 100% of the information and gets that information subsequently, he or she gives it to the House. Since I spoke yesterday, numerous people have contacted me and are now looking up the accounts that they had many years ago to see if they still exist. By the way, they still exist. I am looking for the numbers from the Department but I have not got the information back in time for my contribution today. I was in touch early this morning with An Post to find out the number of inactive accounts, the number of savings accounts and the number of dormant accounts.

The Post Office Savings Bank should reactivate its business, particularly with young people. Years ago, there were saving stamps for young people which could be collected up and lodged by them. By the way, they are only paying 0.15%, which is most unattractive. Nevertheless, it is a State bank. It is providing funding for the State at a low rate. All I am saying is that maybe it is a wake-up call for many people who have accounts there and that they should check it out. I would recommend that people save with An Post because it is a State savings account. I would also recommend that they would get a credit card from An Post.