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Thread: Penny bank

  1. #1
    jiho is offline Member
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    Default Penny bank

    Hi all,

    What type of bank was a real «Penny bank» (not a piggybank) in England in the late ninetieth century?
    Where did the name come from?

    Thanks a lot!

  2. #2
    Anglika is offline No Longer With Us
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    Default Re: Penny bank

    They were banks set up to encourage the working man to save. They were prepared to take very low value deposits, restricted to a specific value per year.

  3. #3
    jiho is offline Member
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    Default Re: Penny bank

    Thanks a lot, Anglika, you always so helpful!

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