Post Office expects a mad Friday

The UK’s Post Office has published research suggesting that 28 million UK residents plan to use a Post Office this festive season.

The research found that of those who intend to visit a branch:

– 20 % intend to withdraw cash and 7 per cent intend to deposit cash.
– Those aged 55+ are most likely to visit a Post Office (64 %) and over a third (35 %) of 18-24 year olds intend to visit.
– People living in rural areas are most likely to visit to withdraw cash (30 %).
– More than two thirds (69 %) who intend to visit will post Christmas cards and gifts and a further 22% intend to visit to collect or return online shopping.

According to the Post Office, today (22 December) is set to be busiest day for cash withdrawals at the Post Office’s 11,500 branches. Last year the organisation handled 400,000 cash withdrawals on the last Friday before Christmas.

Post Office branches have seen a 15% increase in demand for cash withdrawals in the run-up to Christmas compared with last year. In December 2018, there were 7.5 million cash withdrawals for the month.

Martin Kearsley, Banking Services Director at the Post Office, said: “Millions of consumer and business customers of UK banks are increasingly turning to the Post Office for their cash needs. We have seen rapid growth since last December, when we handled over 7.5 million cash withdrawals from our network of 11,500 branches right across the country. Our branches provide a personal, face-to-face service which is important to many, particularly during the festive period.”

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