Post offices saw a 15% annual increase in personal cash withdrawals in February.
With the help of 2024 being a leap year, there were £806 million worth of personal cash withdrawals at the Post Office’s 11,500 branches – up by 15% year-on-year and a 3.6% increase compared to January 2024.
Personal cash deposits amounted to £1.28 billion, up 6.2% year-on-year. In January 2024, which was a longer month, personal cash deposits had been higher, totaling £1.42 billion.
A significant number of people and businesses continue to rely on being able to access their cash, for free, at their local post office
Ross Borkett, Post Office
The Post Office has partnerships with banks, building societies, and credit unions, allowing 99% of UK bank customers to access their accounts at their Post Office branch.
Ross Borkett, Post Office banking director, stated: “February’s cash withdrawal and deposit figures suggest that a significant number of people and businesses continue to rely on being able to access their cash, for free, at their local post office to help with the day-to-day management of their finances.”
