On the last Friday before Christmas, as people looked for last-minute gifts, the amount of cash withdrawn from post offices hit a record high.
On Friday 22 December, individuals withdrew more than £62 million, the highest amount ever withdrawn in a single day.
The total value exceeds the previous record by more than £10 million, when £51.5 million was sold on the same Friday last year.
The Post Office said £800,000 was withdrawn on Christmas Day itself.
£1.1 million was contributed by private clients and the same amount by business clients.
Ross Borkett, Post Office banking manager, said: “For some people the free cash withdrawal was a way to complete last-minute shopping before the big day; for others it could be a last-minute gift.”
“Business deposits at Christmas show how important it is that pub and restaurant owners have an open and convenient place to store much-needed Christmas receipts ahead of a quieter January.”
Link also said the last Friday before Christmas was the busiest day of the year for cash withdrawals and the highest amount since the start of the Covid-19 pandemic.
On December 22, the last working day before Christmas for many people, around £460 million was withdrawn before the four-day break.
The average withdrawal that day was just under £105, Link said.
The Post previously noted that businesses, especially in the leisure and hospitality sectors, are relying on their branches to deposit cash, especially in communities where bank branches are closed.
It was also noted that the rising cost of living has meant that people are increasingly using cash to manage their budgets on a weekly, and often daily, basis.
Source: I News
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