Published On: Mon, Mar 11th, 2024

Post Office records 15% annual increase in personal cash withdrawals | Personal Finance | Finance

Post offices saw a big jump in the amount of money people took out in February. They had 15 percent more cash withdrawals than last year.

Because 2024 has an extra day, post offices did really well. They gave out £806 million in cash, which is 15 percent more than last year and 3.6 percent more than January 2024.

People also put £1.28 billion into their accounts, which is 6.2 percent more than last year. But in January 2024, they put in even more money – £1.42 billion.

The Post Office works with lots of banks and credit unions. This means almost everyone with a UK bank account can use their local Post Office to get to their money.

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.”

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