Despite the impending increase to contactless payments from £45 to £100 this Friday (15 October), £1.06 billion was deposited by business customers in September. This was up 3.1% month-on-month (£1.03 billion, August 2021) and up 9.6% year-on-year (£965 million).
A recent Post Office survey found nearly half (44%) of small hospitality and leisure businesses in the UK rely on cash daily. A third (34%) of hospitality and leisure business owners said they would fear for the security of their business if they didn’t have the ability to deposit cash at the end of each day. Post Office recently launched a ‘Save Our Cash’ campaign calling for the Government to speed up legislation to protect access to cash for the millions of people and businesses that rely on it.
Combined Personal & Business deposits
Combined Personal & Business withdrawals