Cash at the Post Office

Cash Volumes Up at the Post Office

The Post Office in the UK is playing an increasing important role in providing cash services to communities. It now provides cash services for over 30 banks and building societies as part of a Banking Framework. Customers can withdraw or deposit cash at any of the 11,500 Post Office branches.

Campaigning for cash

The Post Office is running a ‘Save our Cash’ campaign. As part of that campaign, see www.SaveOurCash.co.uk, it is calling on as many people as possible to write to their MP to support policies and legislation that protect cash and place an obligation on the banks to guarantee access to cash across the UK. On the website are also stories about the importance of cash in people’s lives.

Data for August 2021

The Post Office has posted data for cash withdrawn and deposited under the Banking Framework, excluding its own cash transactions.

In August, usually a quiet month, the Post Office has handled the highest level of cash deposits so far this year, £1.03 billion, 23% up on August 2020 and the third month in a row where deposits have been over a billion pounds.

The lack of international travel is assumed to have made the difference. A Post Office survey shows that now 44% of small hospitality and leisure businesses rely on daily cash. In the same survey, 34% said that they feared for their businesses if they couldn’t deposit cash at the end of each day.

With cash deposits up 2.2% on the previous month, withdrawals were up 0.3% on July, totalling £667 million. Personal cash withdrawals were up 21% year-on-year. Personal cash deposits were over a billion pounds for the sixth month running at £1.18 billion, up 0.1% month-on-month.

The Post Office started issuing a monthly cash tracker a year ago.

Business cash deposits

Personal cash deposits

Personal cash withdrawals

See www.corporate.postoffice.co.uk/cashtracker.