Post Office counters see record cash withdrawal over festive period

Post Offices have set a new record for cash deposits and withdrawals in December, handling £3.1 billion in total.

This was up on previous £3bn November record, and £2.4bn in December 2020.

A record £801 million in personal cash withdrawals took place over the counter at Post Office’s 11,500 branches in December. This was up 7.8 per cent on November and 25 per cent up on December 2020. Personal cash deposits grew 0.2 per cent month-on-month to £1.26bn.

Business cash deposits dipped 1.8 per cent month-on-month to £1.02bn in December as hospitality and leisure sectors implemented Covid-19 restrictions, reducing cash intake.

“Postmasters kept their Post Offices open throughout the festive period serving their communities and providing a convenient and secure location for millions of people and businesses to do their everyday banking,” Martin Kearsley, banking director at Post Office, said,

“Despite Covid-19 restrictions being introduced and some people’s natural desire to avoid going out to see friends and family before Christmas, it’s testament to the hard work of Postmasters that a record £3.1 billion was processed at branches.”

On 30 November, the Post Office announced a new charity partnership with the Trussell Trust, donating 1p for every cash withdrawal done over the counter. Post Office hopes to raise £250,000 for the charity, and the customers have now helped raise a third of its target in December alone.

“We are incredibly proud of our partnership with the Trussell Trust and are heartened that customers withdrew a record £801 million over the counter, helping us to raise vital funds for the charity at this challenging time of year for so many families,” Kearsley added.