Cash Tracker - May 2021

Post Office Cash Tracker for May 2021

Business cash deposits up over 7% in May at Post Offices; personal cash deposits and withdrawals hold steady during one of wettest May’s on record

  • Total value of cash deposits and withdrawals at Post Offices totalled £2.49 billion in May, up on April (£2.45 billion)
  • Business cash deposits in May totalled £824 million, up 7.2% month-on-month (£769 million, April 2021). In Scotland, business cash deposits were up almost 36% month-on-month (£68.7 million in May)
  • Personal cash deposits exceeded £1 billion for the third successive month totalling £1.06 billion, broadly in line month-on-month (£1.07 billion, April 2021)
  • Personal cash withdrawals totalled £583 million over the counter, similar to April (£589 million, April 2021)
  • Post Offices are providing critical cash services to non-essential retailers who can rely on Post Office branches to deposit much needed cash takings as they are open long hours and many seven days a week

Latest data from the Post Office’s May Cash Tracker shows overall cash deposits and withdrawals increased month-on-month, highlighting that cash use continues to recover. Record levels of rainfall in May in parts of England and Wales contribute to flat personal cash deposits and withdrawals for first time since start of the year, but there was continued growth in business deposits.

 

Personal cash deposits
Personal cash deposits exceeded a billion pounds for the third successive month. In May, £1.06 billion was deposited over the counters, broadly in line with April (£1.07 billion).

Personal cash withdrawals
Personal cash withdrawals totalled £583 million in May, similar to April (£589 million, April 2021).

May was the first time since January that personal cash withdrawals had levelled off month-on-month and the first time since February that personal cash deposits had slowed month-on-month which Post Office attributes to the wet weather seen across many parts of the UK last month.

 

Business cash deposits
Business cash deposits totalled £824 million, up 7.2% month-on-month (£769 million, April 2021). In comparison with May 2020 (£345 million) when the UK was in the second full month of lockdown, business cash deposits are up 139% year-on-year. In Scotland, in May business cash deposits were up almost 36% month-on-month (£68.7 million) as lockdown measures continued to ease.

Business cash withdrawals

Overall, cash deposits and withdrawals at Post Offices in May amounted to £2.49 billion. This compares with £2.45 billion in April and £2.44 billion in March.

Combined Personal & Business deposits

Combined Personal & Business withdrawals

The chart below shows the cash deposits (for Personal, Business and Personal & Business combined) breakdown, as at end May 2021, for the the four nations (England, N Ireland, Scotland and Wales).

Business deposits

Personal Deposits

Combined deposits

This chart shows the cash withdrawals (for Personal, Business and then Personal & Business combined) breakdown, as at end May 2021, for the the four nations (England, N Ireland, Scotland and Wales).

Business withdrawal

Personal withdrawals

Combined withdrawals