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Post Office reports 30 per cent increase in cash withdrawals across its network

31st October 2014 Print

The Post Office has announced a 30 per cent increase in over the counter cash withdrawals across its network, as the numbers of customers from banks and building societies continue to grow in accessing cash across its network. 

Post Office said it had firmly cemented itself as a leading player in the banking and payments market handling over two million contactless payments since terminals were rolled out across its network.  It also announced that during the last year, over 300 million cash withdrawals had been made across its network of 11,500 branches and 2,500 ATMs – the largest free cash withdrawal network in the UK.

Henk Van Hulle, Post Office Financial Services at the Post Office said:  “Post Office branches remain at the heart of communities across the UK, often in places where banks no longer exist.  We’re delighted to be working with more and more high street banks to ensure that over 95 per cent of UK bank account customers can access their accounts at our branches, wherever they live in the UK.”

The Post Office network is at its most stable for decades.  To ensure it remains at the heart of communities it is undertaking the biggest transformation programme in UK retail history. Post Office is modernising over 8000 branches and investing in over 3000 community branches - 10 branches a day are being transformed. So far over 3000 branches have been modernised with many of these open on Sundays, from early in the morning into the evening.  These branches, alongside over 2500 ATMs across its network ensure that customers have even easier access to banking services through the Post Office network.  

As well as modernising Post Office branches it is also taking banking services out to rural communities through a fleet of 40 mobile vehicles, serving 250 communities.

The Post Office is also becoming a major player in the Financial Services market, offering a wide range of award-winning products such as mortgages, savings, current account and credit cards appealing to customers looking for choice, good value, fair and transparent products.

Feedback from customers has revealed that brand reputation, convenience, accessibility and simplicity were among the top reasons they use the Post Office. Others felt that the Post Office serviced their banking needs and allowed them to have all their financial products under one roof.