In January, personal cash withdrawals amounted to £463 million. That was down almost 28% on December (£640.7 million) and also down 24.3% on January 2020 when £611 million was withdrawn. The figure for January was the lowest amount withdrawn at Post Offices counters since May 2020 (£450 million).
Personal cash deposits
Personal cash withdrawals
Business cash deposits totalled £582 million last month. That compares to £788 million that was deposited in December. Post Office data indicates businesses were better prepared for the December lockdown compared with the first UK-wide lockdown in Spring last year when business deposits fell to £313 million in April. They totalled £345 million in May and £493 million in June before recovering over the summer.
Overall, cash deposits and withdrawals by personal and business customers amounted to £1.99 billion in January. This compares to 2.43 billion in December 2020. December and the run-up to Christmas always sees the biggest cash deposits and withdrawals over the counter at Post Office’s 11,500 branches.
Business & Personal deposits
Business & Personal withdrawals
The chart below shows the cash deposits (for Personal, Business and Personal & Business combined) breakdown, as at end January 2021, for the the four nations (England, N Ireland, Scotland and Wales).
Combined (personal & business) deposits
This chart shows the cash withdrawals (for Personal, Business and then Personal & Business combined) breakdown, as at end January 2021, for the the four nations (England, N Ireland, Scotland and Wales).