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.

A customer withdraws cash at the Post Office in Bamford, Derbyshire (Lucy Ray/PA) (PA Archive)

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

Ross Borkett, 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.”