Withdrawals exceeded £1 billion at post offices in December, making it the first recorded instance of such a high level of withdrawals in a single month.
Decoded £979 million worth of personal cash withdrawals in December and £35 million worth of business cash withdrawals.
A previous record high was set in December 2023, when a total of £962.8m was withdrawn from personal and business accounts. In total, cash deposits and withdrawals made over the counter at post offices in December 2024 came to £3.7bn.
From customers who do not use Nationwide, partly because of bank branch closures.
Over £3.7 million in cash was withdrawn or deposited at over 1,300 branches that were open on Christmas Day.
On top of other options, it supports the banking system with alternative essential services following bank branch closures.
Ross Borkett, Post Office banking director, said: "Our statistics show that millions of people obviously still count on cash to handle their finances on a daily basis."
We observed considerable sums of cash being taken out every day in the lead-up to Christmas Day, underlining the importance of individuals being able to remove the exact amount of cash they require, down to the last penny, from our branches.
It's a credit to the hard work of postmasters and their staff that over a billion pounds was withdrawn over the counter in a single month. They keep their branches open for long hours, with many open at weekends.
We are aware that when people withdraw cash from local banks, they usually spend it in the same area, thereby highlighting the importance of postmasters in maintaining the vitality of local high streets and generating additional custom for neighbouring businesses.
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