(1)A sum standing to the credit of a person in a deposit account in a bank shall, for the purposes of the jurisdiction of the High Court and the county court to attach debts for the purpose of satisfying judgments or orders for the payment of money, be deemed to be a sum due or accruing to that person and, subject to rules of court, shall be attachable accordingly, notwithstanding that any of the following conditions applicable to the account, that is to say—
(a)any condition that notice is required before any money is withdrawn;
(b)any condition that a personal application must be made before any money is withdrawn ;
(c)any condition that a deposit book must be produced before any money is withdrawn ; or
(d)any other condition prescribed by rules of court,
has not been satisfied.
(2)This section shall not apply to any account in the Post Office Savings Bank, in any Trustee Savings Bank or in any Savings Bank maintained in pursuance of any enactment by any local authority or to any account in any bank with two or more places of business if the terms applicable to that account permit withdrawals on demand, on production of a deposit book, at more than one of those places of business, with or without restrictions as to the amount which may be withdrawn.