Press release -
Christmas Day cash at Post Offices; £1 billion expected to be withdrawn across December
- Just over £1 million in cash was withdrawn on Christmas Day over the counter at 1,300 Post Office branches that were open as people finished last minute shopping for the big day or gave cash as a last-minute gift to friends and loved ones.
- Personal cash withdrawals on Christmas Day were up £200,000 compared with Christmas Day 2023 (£800,000).
- Personal cash deposits on Christmas Day totalled £1.48 million up almost £350,000 compared with Christmas Day 2023 (£1.13 million).
- Business cash deposits on Christmas Day totalled £1.23 million up over £200,000 compared with Christmas Day 2023 (£1 million)
- Based on trends for this December and expectation that News Year’s Eve is not a wash-out, the Post Office predicts total cash withdrawals over the counter (personal and business) for December could exceed £1 billion for the first time ever.
New figures today reveal that over £3.7 million in cash was withdrawn or deposited over the counter at 1,300 Post Office branches that were open on Christmas Day.
Based on trends for this December and expectation that News Year’s Eve is not a wash-out, the Post Office predicts total cash withdrawals over the counter (personal and business) for December could exceed £1 billion for the first time ever. Last December, a then record £963 million was withdrawn over the counter (£930 million personal cash withdrawals and £32.8 million business cash withdrawals).
On Christmas Day
- Just over £1 million was withdrawn by personal customers over the counter.
- Almost £1.5 million was deposited by personal customers over the counter.
- Over £1.2 million was deposited by business customers over the counter.
- In total over £3.7 million in cash was deposited and withdrawn on Christmas Day. This compares to £3 million on Christmas Day 2023.
- 19 cheques were deposited by personal customers.
The biggest day for personal cash withdrawals this December was Monday 23 December when £61.2 million was withdrawn over the counter. This fell just short of the all-time record which was Friday 22 December 2023 when personal customers withdrew £62.4 million.
Ross Borkett, Post Office Banking Director, said:
“Millions of people rely on being able to access cash every day at their local Post Office and it’s no different on Christmas Day. Record breaking amounts of cash being withdrawn this month will come as no surprise to postmasters and their teams who have worked flat out this month ensuring their local customers have been able do their everyday banking at this critical time of year.
“Business cash deposits being made on Christmas Day indicate just how vital it is that pub, cafe and restaurant owners have somewhere open and convenient to deposit their much-needed Christmas cash takings ahead of a quieter January.”
On Christmas Day itself, just over 1,300 branches, predominantly operated by independent Postmasters and located in convenience stores, served customers. Post Office has 11,500 branches across the UK and typically has around 4,000 branches open on weekends.
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About the Post Office
- With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.
- Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.
- Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.
- Post Office is simplifying its proposition for Postmasters with a focus on its cash and banking; mails and parcels; foreign exchange; and; bill payments services.
- Research has found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.
- 99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.
