Bank on the Post Office for easy access to holiday cash - 57 percent of people on UK Staycations have struggled to find a bank or ATM to make cash withdrawals

• Cash remains king for many retailers – more than half (53 per cent) of people had visited a cash only retailer in the last year
• More than a quarter (27 per cent) of people unable to buy gifts and souvenirs from cash only retailers (such as markets or traders) and a further quarter (26 per cent) unable to treat themselves or family at chosen eatery
• 11,500 Post Office branches across the UK, including UK holiday hotspots, offer cash withdrawals to customers of UK banks
• Over a quarter of people (28 percent) have withdrawn cash at their local Post Office in the last year
• Post Office locations now available on Link ATM Location finder also at www.postoffice.co.uk/branchfinder.

With the Summer holidays now at their peak new Post Office research¹ has revealed that more than half of people (57 per cent) have struggled to find a bank or ATM when taking a staycation in the UK, with almost one in five (18 per cent) saying this had been the case in the last 6 months.

It seems cash remains king for many retailers with more than half of people (53 per cent) stating they had visited a retailer in the UK which only accepted cash payments in the last year.

Lack of access to cash had led to over a quarter (27 per cent) on Staycations being unable to buy small gifts or souvenirs from cash only retailers (such as markets or traders) and a further quarter (32 per cent) had been unable to treat themselves or their families at their chosen eateries. More than two in five (21%) also said they had problems with travel plans (e.g. missed buses, trains and not being able to pay for car park tickets) because of lack of easy access to cash.

With 11,500 branches across the UK the Post Office is ideally placed in the hearts of communities to provide easy access to fee free cash withdrawals, in towns and villages where banks no longer exist. Over four out of five people surveyed (85 per cent) said they were pleased their banks offer the convenience of access at Post Office branches.

Post Office branches are located in seaside towns and popular tourist destinations across the UK including Wells next to the Sea in Norfolk, where currently there are no bank branches. During the summer months thousands of tourists visit the town to enjoy its beautiful beaches and local attractions. Many tourists visit the Post Office branch to make withdraw cash from their bank account.

Postmistress Carol Starkey from Wells next to the Sea Post Office said: “The peak summer months are particularly busy for us with more and more people visiting to withdraw cash. The last bank in town closed earlier this year and people like the over the counter service which allows them flexibility to withdraw cash in any denomination they like. This is particularly handy for people who want to give their kids some cash to spend on holiday treats.”

Martin Kearsley, Banking Services Director, Post Office said: “More and more people are relying on the Post Office to offer easy access to their bank accounts, whether at home or travelling in the UK. Our research showed that in the last year more than a quarter of people across the UK (28 per cent) have withdrawn cash at a Post Office branch

“Our partnership with all the UK’s major banks ensures that their customers, no matter where they are in the UK, can have convenient and secure access to everyday banking services including cash withdrawals and deposits. With around 93 per cent of people living within a mile of a Post Office our branches are ideally placed to provide easy access to vital banking services.”

Anyone looking to withdraw cash while on a staycation can now find information on their nearest Post Office branch or ATM using Link’s ATM finder, which recently added the Post Office branches to its ATM Locator App or at www.postoffice.co./branch finder.

Post Office Future of Cash Survey Findings

The Post Office’s Future of Cash Study² revealed that people of all ages continue to rely upon cash, with people across the UK carrying £26 in their wallet each day. Key Facts from the future of cash are:

• Cash remains an important part of everyday life around the country, with 95% reliant upon this to pay in everyday situations
• On average, over £1.3bn held in the nation’s wallets on a daily basis
• Choice is key; majority of the population mix their usage of card, cash and other forms of payments
• Access to cash remains important within local economies, with cash still being one of the most commonly (59%) accepted methods of payment amongst micro traders.

ENDS

Issued by:

Post Office Press Office

1^st Floor Finsbury Dials

20 Finsbury Street

LONDON, EC2Y 9AQ

Tel: 07436 038445 or 020 7012 3456 (24 hours),

Email: pressoffice@postoffice.co.uk www.postoffice.co.uk

Some figures in this report are from YouGov Plc. Total sample size was 2076 adults. Fieldwork was undertaken between 7th - 8th August 2019. The survey was carried out online. The figures have been weighted and are representative of all UK adults (aged 18+).

^² Post Office Future of Cash figures are sourced from a nationally representative survey conducted by Censuswide. Research with a sample of 2,024 online interviews with UK adults, from 17^th August to 20^th August 2018, and research of 1,095 micro traders (businesses with between 0-9 employees) from around the country

Also attached is information on Post Office branches based in popular tourist locations, as well as Press Association images of Wells next to the Sea and Post Office branch.