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60% of Brits use cash for gifts, treats, socializing over Christmas

Postmaster serving a customer cash in the U.K. Photo provided.

December 16, 2019

Six in 10 people (59%) across the U.K., who celebrate Christmas are likely to use cash in lieu of a card when purchasing gifts, treats or socializing this Christmas, according to the latest research from the U.K.'s Post Office. This figure rose to two thirds (66%) of people in rural areas.

With 45% of people likely to give cash as a gift this Christmas, Post Office branches are set to play a vital role in ensuring that millions of customers of U.K. banks have easy access to cash withdrawals during the festive period, according to a press release.

More than 28 million people intend to visit one of the Post Office's 11,500 branches during the festive period. The research found that of those who intend to visit a branch:

• 20% intend to withdraw cash and 7% intend to deposit cash.
• People living in rural areas are most likely to visit to withdraw cash (30%).

"Millions of customers of U.K. banks can rely on our branches for easy access to cash in the run-up to Christmas," Martin Kearsley, banking services director at the Post Office, said in the release. "Many branches are open longer hours and 4,000 are open seven days a week.  

The research also found high levels of awareness that cash can be withdrawn from a U.K. bank account over the counter at the Post Office, with 66% of U.K. adults aware. Amongst people living in towns, their surrounding areas and rural areas, the figure averaged 73%.

The Post Office recently announced an agreement with 28 U.K. banks that allows millions of their customers to withdraw cash at Post Office branches.

"With 6,000 branches in rural areas, customers of U.K. banks have grown to rely on our everyday banking services," Kearsley said.