No manual deposits in post offices from July 1

The post offices will not accept deposits under the manual process from its general account holders starting July 1 this year.

A gazette notification in this regard was issued by the finance ministry’s Internal Resources Division (IRD) on March 26.

Those who had accounts opened under manual process before July 1, will continue to receive interest for the next one year only, but the account will be closed on June 30, 2024, the notification added.

An existing account holder (or holders) will be able to open a new digital account if they wish.

According to a statutory regulatory order issued by the IRD back in February this year, post offices will go for digital deposits to bring all transactions under the electronic system by June 2024.