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Post Office branches gear up for busiest day of the year for cash withdrawals

Press release   •   Dec 19, 2019 09:40 GMT

  • Friday 20 December set to be busiest day of the year for cash withdrawals at the Post Office’s 11,500 branches
  • At the same point last year, Friday 21 December 2018, Post Office branches handled 400,000 cash withdrawals
  • Post Office branches have seen a 15% increase in demand for cash withdrawals in the run-up to Christmas compared with last year. In December 2018, there were 7.5 million cash withdrawals for the month.

Friday (20 December) is set to be busiest day of the year for cash withdrawals at the Post Office. At the same point last year, Friday 21 December 2018, Post Office branches handled 400,000 cash withdrawals in a single day.

In the run-up to Christmas this year, there has been a 15% increase in demand for cash withdrawals compared with last year.

Martin Kearsley, Banking Services Director at the Post Office, said:

“Millions of consumer and business customers of UK banks are increasingly turning to the Post Office for their cash needs. We have seen rapid growth since last December, when we handled over 7.5 million cash withdrawals from our network of 11,500 branches right across the country. Our branches provide a personal, face-to-face service which is important to many, particularly during the festive period.”

Post Office Christmas research

Post Office research has found that six in ten people (59%) across the UK who celebrate Christmas are likely to use cash instead of card when purchasing gifts, treats or socialising this Christmas. This figure rises to two thirds (66 per cent) of people in rural areas. And 45 per cent of people are likely to give cash as a gift this Christmas.

More than 28 million* (54 per cent) say they intend to visit one of the Post Office’s 11,500 branches during the festive period. The research found that of those who intend to visit a branch:

  • 20 per cent intend to withdraw cash and 7 per cent intend to deposit cash.
  • Those aged 55+ are most likely to visit a Post Office (64 per cent) and over a third (35 per cent) of 18-24 year olds intend to visit.
  • People living in rural areas are most likely to visit to withdraw cash (30 per cent).
  • More than two thirds (69 per cent) who intend to visit will post Christmas cards and gifts and a further 22 per cent intend to visit to collect or return online shopping.

For more information about Post Office services at Christmas, visit www.postoffice.co.uk/christmas

About Post Office:

  • With 11,500 branches, the Post Office is among the larger retail networks in the UK.
  • 98% of Post Office branches are run with retail partners on an agency or franchise basis.
  • The Post Office provides services central to peoples’ everyday lives; 99.7% of the population lives within 3 miles of a Post Office.
  • We offer the UK’s largest fee free cash withdrawal network through our 11,500 branches, over 2,000 cash machines and 99 per cent of UK bank customers can access their accounts at the Post Office.
  • We sell 170 different products and services spanning financial services including savings, insurance, loans, mortgages and credit cards; Government services; telephony; foreign currency; travel insurance and mail services.
  • Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information; visit www.postoffice.co.uk and to find out about a Post Office business opportunities; visit www.runapostoffice.co.uk