Today, Postbank can cater for every savings and investment requirement. It offers the Postbank SparCard, numerous investment funds, insurance and even stocks. Of course, the selection has not always been so diverse. Post office savings began with a simple classic, still well known to Germans: the post office savings account book.  

UK celebrates the centenary of the post office savings bank
The post office savings account book was invented earlier than many people think: back in 1807, the British MP Samuel Whitbread proposed the introduction of a post office savings bank to his colleagues. However, his ideas were initially met with scorn. The tables were eventually turned fifty years later, in 1861: the British Post Office Savings Bank came into operation. This revolutionised savings, particularly among the working classes. Around twenty years later, the post office savings bank was celebrated as the most significant organisation of the previous fifty years. Its success had wide repercussions: the colonies and other foreign countries also set up post office savings banks.

The Austrians also welcome a little nest egg
Austria also began to take an interest in foreigners' experiences with post office savings. In 1881, the economist Georg Coch analysed the necessary function of a state savings institution. He came to the following conclusion: "The affluence of ordinary people has declined. Therefore we must start to save with smaller amounts. However, the smaller the nest egg, the less able it is to cope with costs, and the greater the need for safety and concession."

In 1883, the first Austrian citizens at last paid their savings into the post office savings account book. Socially weaker groups such as day labourers, servants and manual workers also had fewer inhibitions about crossing the threshold of a post office than opening the doors of a private savings bank.

Popular book initially shunned by Germans
There were also repeated attempts in the German Reich to link the post office and saving. However, they initially failed due to the resistance of the already established savings banks. They were afraid of the unwelcome competition. The attempts were then dropped for political reasons. Not until 1938 was it agreed that saving had to be encouraged. The money hoarded by the citizens was to be gathered in and given back to the national economy.

When the neighbouring country of Austria was annexed into the German Reich, the hugely popular institution of the post office savings account book was also adopted in 1939: citizens could pay in and withdraw money at all post offices in the German Reich. The post office savings bank soon became the savings bank for ordinary people.    

The post office savings bank service also collapsed at the end of the war. The services were gradually resumed in the allied-occupied zones. In the 1950s, reconstruction and an economic upturn boosted confidence in the value of money. The savings business became attractive again, and the post office savings account book became a popular travelling companion, especially as it was now accepted abroad as well: Austrians have been paying out from German post office savings accounts since 1964. Many other countries followed suit.

Times change – and so do the wishes of customers
People began to adopt an increasingly long-term savings approach in the 1960s. The post office identified this trend and progressively developed new savings products:

• 1967 Saving with an agreed notice period
• 1970 Bonus-carrying saving
• 1981 Saving with rising interest
• 1989 Saving with fixed interest

Maturity comes quickly – the emergence of Postbank
On January 1, 1990, Postbank ceased to be part of a federal agency, and became an independent company. 

This removed all barriers to innovation and new products for savings and investments. The blue Postbank savings account book faced competition from within the company as early as the second year of independence:

• 1991 The savings certificate is introduced
• 1992 The "Postbank Sparbuch 3000 plus" savings account book is a hit right from the start
• 1993 Entry into the fund business: investment subsidiary opens its first accounts in Luxemburg
• 1995 First ever Postbank equity fund introduced
• 1998 Postbank pursues collaborations: Wüstenrot is a partner in the mortgage savings business, and Haftpflichtverband der Deutschen Industrie is a partner in the insurance sector
• 1998 Postbank issues a savings card:
  the "Postbank SparCard 3000 plus"
• 2000 Postbank subsidiary Easytrade enters the market with direct brokerage
• 2001 Postbank combines savings and the stock market: the Postbank DAX savings book

The trend is clear: more and more savers are turning away from traditional savings products towards modern investment methods. Postbank will continue to take account of this trend in extending its range of products. Because it wants to remain Germany's number one savings bank.