Post Office sees personal cash withdrawals increase by 15% annually in February
Helped by 2024 being a leap year, there were £806 million-worth of personal cash withdrawals at the Post Office’s 11,500 branches in February.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.Post offices recorded a 15% annual increase in personal cash withdrawals in February.
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.
Personal cash deposits totalled £1.28 billion, up 6.2% year-on-year. In January 2024, which was a longer month, personal cash deposits had been higher, totalling £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
The Post Office has partnerships with banks, building societies and credit unions, meaning that 99% of UK bank customers can access their accounts at their Post Office branch.
Ross Borkett, Post Office banking director, 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.”