If you deposited £2 in a bank in 1953, what would it be worth today? That very question is being debated by a bank in Cork at present because a certain gentleman has come across an old bank book showing that he has that much in the bank.
His mother must have opened the account when he was a boy, because he had forgotten all about it. He was intrigued as to what the consequences might be.
For the moment, he has asked that the bank in question not be named and for his own name to be withheld, too, pending an investigation by bank officials and legal officers. But a snag has arisen.
The bank book came to light in the first place when the contents of the family home were being cleared out. He promptly marched into the bank, presented his deposit book, and asked to withdraw the £2 as well as the interest accruing on it down all those years. There was a vague look of disbelief on the face of the teller when the 44-year-old document was passed across the counter.
The snag is that when the savings account was opened, banks were using the ledger system to record transactions. Then, when computerisation arrived, details from the ledgers were transferred to disc.
But where is the record of the £2 savings account? That's the rub. It doesn't exist, according to the bank. The customer insists that he has a valid bank book. He wants the dosh.
This one could run and run.