After two record-breaking cash handling months at Post Offices, unseasonable weather sees small dip in June
Highlights from the Tracker
- Post Offices saw cash deposits and withdrawals total a record £3.57 billion in May, beating the previous record high set in April 2024 (£3.48 billion).
- In June, cash transactions totalled £3.43 billion – with unseasonable weather resulting in a dip in business cash deposits – but was still the fourth highest amount on record.
- Business cash deposits totalled £1.13 billion in June, down both 3.4% year-on-year (£1.17 billion, June 2023) and 5.3% month-on-month (£1.19 billion, May 2024).
- Personal cash deposits totalled £1.42 billion in June, up 8.3% year-on-year (£1.31 billion, June 2023) but down 2.5% month-on-month (£1.46 billion, May 2024).
- Personal cash withdrawals totalled £848 million in June, up 1.4% year-on-year (£836 million, June 2023) but down 4.6% month-on-month (889 million, May 2024).
New figures released today reveal Post Offices handled £3.43 billion in cash deposits and withdrawals in June.
The figure for June comes after April and May saw consecutive record-breaking cash handling months at Post Offices. In May, a total of £3.57 billion worth of cash was handled by Post Offices. In April, the figure was £3.48 billion. June’s figure is still only the fourth time on record that cash transactions have exceeded £3.4 billion in a single month.
Business cash deposits totalled £1.13 billion in June down both 3.4% year-on-year (£1.17 billion, June 2023) and 5.3% month-on-month (£1.19 billion, May 2024).
Personal cash deposits totalled £1.42 billion in June, up 8.3% year-on-year (£1.31 billion, June 2023) but down 2.5% month-on-month (£1.46 billion, May 2024).
Personal cash withdrawals totalled £848 million in June, up 1.4% year-on-year (£836 million, June 2023) but down 4.6% month-on-month (889 million, May 2024).
Ross Borkett, Banking Director at Post Office, said:
“Post Offices play a vital role in supporting small businesses to trade by providing a convenient and secure location to deposit their cash takings with many branches open long hours and some at weekends. Following two consecutive record-breaking months for cash handling at Post Offices, June’s cool and wet weather slightly impacted takings in the hospitality and leisure sectors contributing to a small drop in business cash deposits at our branches last month.”