08/03/2022
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The latest Cash Tracker from Post Office shows Personal cash withdrawals over Post Office counters totalled £650.5 million in February, up 3.2% month-on-month (£630.2 million, January 2022). The increase came despite the impact of Storms Dudley and Eunice across much of the UK.
Post Office has welcomed the increase in personal cash withdrawals. It is currently running a charity partnership campaign with the Trussell Trust where 1p from every over the counter cash withdrawal is donated to the charity and Post Office hopes to raise £250,000 by the end of March. So far over £200,000 has been raised.
Business and personal cash deposits totalled £2.08 billion in February, down 7% month-on-month (£2.24 billion, January 2022) but up almost 40% on a year ago (£1.5 billion, January 2021).
Overall, Post Offices handled £2.76 billion in cash deposits and withdrawals in February. In January, the amount was £2.89 billion. Figures highlight a continued recovery in the use of cash and wider economic recovery from lockdown last year.
Martin Kearsley, Banking Director at Post Office, said:
“We are incredibly proud of our partnership with the Trussell Trust and are heartened that customers continue to visit their local Post Office to withdraw cash over the counter. We’re making good progress towards our target of raising £250,000 for the charity and the important services they provide.
“February’s stormy weather impacted people’s ability to leave their home and do their banking on the high street as well as businesses ability to open and trade. This had a knock-on impact on the amount of cash deposited at our branches. Early indications this month show cash deposit levels returning to normal levels at Post Offices.”
