Post Office sees personal cash withdrawals increase by 15% annually in February

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.

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.”