shall receipt for the amount paid. [1493-13.] SECTION  1248 . Withdrawals by Telegraph . — Withdrawals may be requested and authorized by telegraph upon payment of the telegraph charges by the applicant. [1493-13.] SECTION  1249 . Special Withdrawals . — The Director of Posts may, by regulation, provide that withdrawals not in excess of a specified amount may, in his discretion and upon his personal responsibility, be paid by any postmaster without first receiving autho rity for such payment from the central office. In any such case credit shall not be claimed by the postmaster for the advance payment of a withdrawal until same shall have been approved by the Director of Posts. If the payment shall be disallowed, the postmaster shall immediately replace the amount pai d in the bank funds. If the amount cannot afterwards be recovered from the depositor, the loss shall be borne by the postmaster. TADIHE SECTION  1250 . Closing Accounts . — Each application to withdraw the entire balance of an account shall be accompanied by the proper deposit book or other evidence of deposit. [1493-15.] SECTION  1251 . Rate of Interest on Deposits . — Interest shall be allowed on deposits in the bank at the rate of two and one-half per centum per annum or at such other rate as may be authorized by the board at the beginning of any calendar year. [1493-10] SECTION  1252 . Time and Manner of Computing Interest . — Interest on a regular savings account shall be computed annually upon the lowest monthly balance during each calendar month the amount remains on deposit, and shall be placed to the credit of the depos itor's account in the central office and thereafter draw interest. Interest shall be allowed only for the time the amount is of record as a deposit in the central office, and no interest shall be computed upon fractions of a peso. cTACIa Copyright 2012 CD Technologies Asia, Inc. and Accesslaw, Inc. Philippine Law Encyclopedia 2011 368