Our latest tracker

Highlights from the Tracker

• Post Offices saw personal cash deposits total £1.36 billion at its branches in March, up almost 5.5% year-on-year (£1.29 billion).
• In total, Post Offices handled £2.49 billion in personal and business cash deposits in March compared with £2.45 billion last March.
• Tenby Postmaster Vince Malone said: “We’ve had a recent revamp of the Post Office to offer enhanced banking to meet the needs of our community and tourists. We have a new high speed note counter that makes it quicker to process deposits.”
• Personal cash withdrawals from Post Office’s 11,500 branches totalled £840 million in March, up over 4% month-on-month (£806 million, February 2024).

New figures today (15 April) reveal Post Offices saw an almost 5.5% increase in personal cash deposits in March compared with the previous year.

In total, £1.36 billion worth of cash was deposited by personal customers in March compared with £1.29 billion in March 2023.

Business cash deposits totalled £1.13 billion in March which was up almost 6% month-on-month (£1.06 billion, February 2024), but a slight decrease on last year (£1.16 billion, March 2023).

Personal cash withdrawals over the counter at Post Office’s 11,500 branches totalled £840 million in March. This was up over 4% month-on-month (£806 million, February 2024) and up over 4% year-on-year (£805 million, March 2023).

In total, £3.36 billion worth of cash was deposited and withdrawn at Post Offices in March.

Tenby Post Office

Vince Malone has been the Postmaster for Tenby for a number of years. In partnership with Cash Access UK, the branch has become an Enhanced Banking Post Office after the location was chosen by LINK following an access to cash survey in the area.

Postmaster Vince Malone said:

“We are a small town of only 5,500 residents, but in the summer that number of people might be ten-fold with tourists and those working in the tourist industry.

“We’ve had a recent revamp of the Post Office to offer enhanced banking to meet the needs of our community and tourists. Our customers can very clearly see what banking services we can provide to help raise awareness and to help plug the town’s banking gap. We have a new high speed note counter that makes it quicker to process deposits.

“People in Tenby still like to use cash. Tourists find it easier to budget with cash, kids like to spend their pocket money. Many people working in tourism and hospitality are paid in cash and their earnings will vary depending upon the time of year and on the weather – if the weather is good they can earn more. Customers can make deposits on behalf of all the major high street banks, get balances and make cash withdrawals.”

Ross Borkett, Post Office Banking Director, said:

“Postmasters and their teams keep their branches open long hours enabling people to deposit or withdraw their cash conveniently and securely and they value face-to-face interaction when doing their everyday banking. March’s cash withdrawal and deposit figures suggests that a significant number of people and businesses continue to rely on being able to access their cash, for free, at their local Post Office in order to help with day-to-day management of their finances.”

Post Office has partnerships with over 30 banks, building societies and credit unions meaning that 99% of UK bank customers can access their accounts at their Post Office branch.