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Cash withdrawals topped £1 billion at put up workplaces in December, marking the primary time on document that this has occurred in a single month.
The Post Office recorded £979m price of non-public money withdrawals in December and £35m price of enterprise money withdrawals.
A earlier document excessive was set in December 2023, when a complete of £962.8m price of non-public and enterprise money withdrawals had been made. In whole, money deposits and withdrawals throughout the counter at put up workplaces in December 2024 totalled £3.7bn.
This document in money withdrawals comes after Nationwide Building Society introduced an uptick in ATM useage throughout 2024, including a 16 per cent rise in cash withdrawals from non-Nationwide prospects, partly attributable to department closures by banks.
Over £3.7m in money was withdrawn or deposited over-the-counter on Christmas Day at 1,300 branches that had been open.
The Post Office has an settlement with many banks, enabling prospects to do their day-to-day banking over its counters. It helps to plug gaps within the money system, following financial institution department closures.
Ross Borkett, Post Office banking director, stated: “Our figures exhibit that thousands and thousands of individuals clearly nonetheless depend on money to handle their price range on a day-to-day foundation.
“We noticed important quantities of money withdrawn on daily basis within the run-up to Christmas Day, highlighting simply how very important it’s for individuals to have the ability to withdraw the amount of money that they want, to the penny in the event that they require, at our branches.
“It’s testomony to the exhausting work of postmasters and their workers that over a billion kilos was withdrawn over-the-counter in a single month. They maintain their branches open lengthy hours, with many open at weekends.
“We know that the place money is withdrawn domestically it tends to be spent domestically, demonstrating the very important position postmasters play in holding native excessive streets going and attracting footfall which advantages different close by retailers too.”
