“Postal Savings Bonds: What Happens When They Expire?”

Many have chosen to use postal vouchers to preserve their savings. But it’s always good to pay attention to the deadline.

We all happen to tidy up papers left in one place for years. Keeping documents and forgetting them is something that happens a lot precisely because our mind is often occupied by other thoughts. But what if you find some important but out of date documents while you are set up?

This is what happened to a lady when she was sorting out memories and old photos. A normal routine if you don’t think of the fact that among the various sheets you also find two old interest-bearing postal bonds dating back to 1942 worth 1,000 lire each. The lady, she had them appraised and the amount they were worth left her speechless. Between statutory interest, revaluation and capitalization, their value had come to 85.350 euro.

What happens with expired savings bonds?

The same thing happened to a lady from a town near Verona. She was 4 good fruit worth 36,337 euros for a total value of 145,350 euros. And we could go on for hours.

All these cases have a number of things in common: first and foremost the carelessness of the people who keep the documents and the luck of those who find them. Poste Italiane, with an appraisal by a consultant, a lawyer and a consumer association, makes it possible to obtain higher reimbursements.

There are many postal savings bonds. In recent times, the legislation has been revised by the Relaunch Decree. Unfortunately, it should be specified that those who have subscribed to a voucher must be very careful of any changes that are made by Poste Italiane with retroactive effect.

There are two types of savings bonds and they are those with a date and those without a date. Those who have the date, consider themselves in prescription after 10 years from the specific date. If, on the other hand, they are undated, the 10 years are calculated from the moment the voucher is found. Both the owner and whoever takes his place can request a refund with the various surcharges. It is advisable to remember the date in order to be able to collect it before the 10-year expiry. The statute of limitations will begin from the moment of discovery. However, a legal battle could ensue as the find is only backed by one side.

In the case of heirs, the value of the vouchers must be divided among all the heirs but only one of them is enough to collect it.