- 19TH December is the busiest day for phone/online Post Office International Payments
- A transaction will be processed every 90 seconds
- One in 10 will send cash as a Christmas gift
- USA, Spain and Australia the most popular destinations for money transfers
Post Office International Payments is bracing itself for a bumper day of payments across the globe this Friday - 19th December, with millions of pounds set to be sent on this day alone as international transactions peak. From businesses transacting worldwide or families sending money as Christmas gifts, the Post Office will be processing a transaction every 90 seconds.
Servicing over 150 countries, Post Office International Payments has seen average transaction values increase by 30 per cent so far this December, with Spain, US, France and Australia the most popular destinations for sending money.
Those living in the South East will send the most money (£2,141), closely followed by those living in Scotland (£2,158). The most common reasons for sending money across the world are for living expenses, gift payments and property maintenance. Christmas gifts also feature highly with one in 10 sending cash to friends or loved ones.
Men between the age of 55 – 64 will send the most money this December. They are most likely to be paying for living increases, of which there has been a 16 per cent increase in transactions compared with 2013. Tuition fees have seen an increase compared to the previous year.
Alan Smith Head of Payments & Banking Services at the Post Office said: “With so much money being transferred, by both customers and small businesses, it is important that we provide the best services and rates. Set against a live currency market, the Post Office offers some of the most competitive rates in the market.”
About the Post Office
The Post Office (Post Office Limited) has an unrivalled national network of over 11,500 branches across the UK, more than all the high street banks combined, and sits at the heart of communities in Northern Ireland, Scotland, Wales and England. The Post Office has made a commitment to maintaining its network of branches at its current size and reach. It provides around 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.
The Post Office serves over 17 million customers a week and a third of small businesses. Some 99.7% of the total population live within three miles of a post office and over 97% live with one mile of a post office. For many rural communities, the post office is the only retail outlet. Post Offices branches remain highly valued and trusted, and are the focal point of many communities. For more information, visit http://www.postoffice.co.uk/.
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