Money withdrawals topped £1bn at put up places of work in December, marking the primary time on file that this has occurred in a single month.
The Put up Workplace recorded £979m value of private money withdrawals in December and £35m value of enterprise money withdrawals.
A earlier file excessive was set in December 2023, when a complete of £962.8m value of private and enterprise money withdrawals have been made. In complete, money deposits and withdrawals throughout the counter at put up places of work in December 2024 totalled £3.7bn.
This file in money withdrawals comes after Nationwide Constructing Society introduced an uptick in ATM useage throughout 2024, together with a 16 per cent rise in money withdrawals from non-Nationwide clients, partly as a result of department closures by banks.
Greater than £3.7m in money was withdrawn or deposited over-the-counter on Christmas Day at 1,300 branches that have been open.
The Put up Workplace has an settlement with many banks, enabling clients 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, Put up Workplace banking director, mentioned: “Our figures display that tens of millions of individuals clearly nonetheless depend on money to handle their funds on a day-to-day foundation.
“We noticed vital quantities of money withdrawn on daily basis within the run-up to Christmas Day, highlighting simply how very important it’s for individuals to have the ability to withdraw the amount of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“It’s testomony to the arduous work of postmasters and their employees that over a billion kilos was withdrawn over-the-counter in a single month. They hold their branches open lengthy hours, with many open at weekends.
“We all know that the place money is withdrawn regionally it tends to be spent regionally, demonstrating the very important function postmasters play in preserving native excessive streets going and attracting footfall which advantages different close by retailers too.”
