Dec 28, 2023
Post Office cash withdrawals reach record high before Christmas
Post Offices saw a record high for personal cash withdrawals on a single day on Friday 22 December, the group said. On Christmas day, £800,000 in cash was withdrawn by personal account holders, and over a million pounds was deposited by them. Ross Borkett, the Post Office's head of banking said: "For some people, being able to withdraw cash for free helped them to finish last-minute shopping for the big day, for others it may have been a last-minute gift."Business cash deposits being made on Christmas Day indicate just how vital it is that pub and restaurant owners have somewhere open and convenient to deposit their much-needed Christmas cash takings ahead of a quieter January", Mr Borkett added. The UK's biggest cash machine network, Link, said the last Friday before Christmas had been the busiest day of the year for withdrawals, and the largest single-day total since before the pandemic. The Post Office typically handles around £3.3bn in cash every month.
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