Savings stamp
Encyclopedia
A Savings Stamp is a stamp issued by a government or other body to enable small amounts of money to be saved over time to accumulate a larger capital sum. The funds accumulated may then be used to make a larger purchase such as taking out a savings bond or to pay a large upcoming bill. Often issued in conjunction with Post Office run Savings Banks, savings stamps have also been issued by private companies. Supermarkets have issued the stamps to enable the spreading of large bills, Package holiday
companies have used them to enable customers to save for an annual holiday, and utilities companies have used the stamps to enable customers to spread the cost of their bills.
Savings stamps are not to be confused with trading stamps which provide a discount on goods purchased as part of a customer loyalty program
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In philately
, savings stamps are regarded as a form of cinderella stamp
.
s were used to save up one shilling (12 pence) which was then sufficient to open a Post Office Savings Bank account, although the mimimum amount required changed to £1 in 1912. This scheme continued until after the Second World War but has now ended. In addition the Bank used specially designed savings stamps with higher values which also could be used to save enough to open an account.
Private companies in Britain also used savings stamps including the holiday company Butlins and supermarkets such as Sainsburys and Safeway.
A wide variety of utility companies made use of the stamps, particularly regional electronic companies, but also British Telecom for telephone bills and government bodies for payment of National Insurance Contributions or Television Licences.
Most uses of savings stamps have now ceased in the U.K., replaced by electronic cards.
Package holiday
A package holiday or package tour consists of transport and accommodation advertised and sold together by a vendor known as a tour operator. Other services may be provided like a rental car, activities or outings during the holiday. Transport can be via charter airline to a foreign country...
companies have used them to enable customers to save for an annual holiday, and utilities companies have used the stamps to enable customers to spread the cost of their bills.
Savings stamps are not to be confused with trading stamps which provide a discount on goods purchased as part of a customer loyalty program
Loyalty program
Loyalty programs are structured marketing efforts that reward, and therefore encourage, loyal buying behavior — behavior which is potentially beneficial to the firm....
.
In philately
Philately
Philately is the study of stamps and postal history and other related items. Philately involves more than just stamp collecting, which does not necessarily involve the study of stamps. It is possible to be a philatelist without owning any stamps...
, savings stamps are regarded as a form of cinderella stamp
Cinderella stamp
In philately, a cinderella stamp has been defined as "Virtually anything resembling a postage stamp, but not issued for postal purposes by a government postal administration..." The term also excludes imprinted stamps on postal stationery.- Types :...
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In the United Kingdom
From 1880 ordinary penny postage stampPostage stamp
A postage stamp is a small piece of paper that is purchased and displayed on an item of mail as evidence of payment of postage. Typically, stamps are made from special paper, with a national designation and denomination on the face, and a gum adhesive on the reverse side...
s were used to save up one shilling (12 pence) which was then sufficient to open a Post Office Savings Bank account, although the mimimum amount required changed to £1 in 1912. This scheme continued until after the Second World War but has now ended. In addition the Bank used specially designed savings stamps with higher values which also could be used to save enough to open an account.
Private companies in Britain also used savings stamps including the holiday company Butlins and supermarkets such as Sainsburys and Safeway.
A wide variety of utility companies made use of the stamps, particularly regional electronic companies, but also British Telecom for telephone bills and government bodies for payment of National Insurance Contributions or Television Licences.
Most uses of savings stamps have now ceased in the U.K., replaced by electronic cards.
In the United States
In the United States Postal Savings Stamps were introduced in 1911.Elsewhere
Belgium and France used special savings stamps in the 1880s and many other countries around the world have used them for diverse purposes, including Canada, Russia, Bulgaria and Singapore.Further reading
- Jones, Lionel D. United Kingdom Savings Stamps, Labels and Coupons: A survey of small savings available to the working classes of Great Britain and Northern Ireland including a detailed listing of labels, coupons and stamps issued on a national basis. London: The Cinderella Stamp Club, 1979.