Post Office reveals 15% increase in customers withdrawing cash from accounts

11 March 2024 , 09:01

514     0

A customer withdraws cash at Bamford Post Office in Derbyshire (Image: PA Archive/PA Images)

Post offices saw more people taking out cash in February, with a 15% increase from last year.

Helped by 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 with January 2024.

In January 2024, they put in more money, £1.42 billion. The Post Office works with lots of banks and credit unions, so nearly everyone in the UK can use their local Post Office to get to their bank account.

Ross Borkett, who helps run banking at the Post Office, said: "February's cash withdrawal and deposit figures suggests 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 in order to help with day-to-day management of their finances."

Lawrence Matheson