Press release -
Post Offices see record amount of cash withdrawn in run-up to Christmas
- Post Offices saw all time record for personal cash withdrawals on a single day - Friday 22 December - with £62.4 million taken out over the counter
- Figure this year beats previous record from last Christmas by over £10 million when £51.5 million was withdrawn over the counter (Friday 23 December 2022).
- When it comes to cash, Postmasters are here year-round ensuring people can access their cash for free and that businesses have somewhere safe to deposit cash takings.
- £800,000 in cash withdrawn on Christmas Day itself as people finished last minute shopping for the big day or gave cash as a last-minute gift to friends and loved ones.
- 16 cheques deposited by personal customers on Christmas Day indicating some people were keen to bank their Christmas gift as soon as possible.
New figures today reveal Post Offices saw the highest amount of cash withdrawn over the counter in the run-up to Christmas on record.
On Friday 22 December, personal customers withdrew £62.4 million. This is the highest amount ever withdrawn on a single day and exceeds the previous record by over £10 million (£51.5 million, Friday 23 December 2022).
£3 million in cash was deposited and withdrawn over the counter at Post Offices on Christmas Day.
On Christmas Day
- £800,000 was withdrawn by personal customers over the counter.
- £1.1 million was deposited by personal customers over the counter.
- £1.06 million was deposited by business customers over the counter.
- In total £3 million in cash was deposited and withdrawn on Christmas Day. This compares to £2.3 million on Christmas Day 2022.
- 16 cheques were deposited by personal customers.
Ross Borkett, Post Office Head of Banking, said:
“Our Postmasters know that 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.
“For some people, being able to withdraw cash for free helped them to finish last-minute shopping for the big day, for others it may have been a last-minute gift. Business cash deposits being made on Christmas Day indicate just how vital it is that pub 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, around 1,500 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.
Post Offices typically handle around £3.3 billion in cash every month.
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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.
