The Post Office Cash Tracker

With over 11,500 branches, Post Office is the UK’s largest retail network, with more branches than all the banks and building societies combined. And Post Office branches are often the last counter in town where businesses can deposit a day’s takings. That ‘cash cycle’ will play a vital part in the UK’s economic recovery from Covid-19.

The public consultation on Access to Cash that Her Majesty's Treasury held closed recently. You can read our response to this consultation here.

 

October Post Office cash deposits and withdrawals exceed £2.9 billion for second month running

  • Post Offices handled almost £3 billion in cash deposits and withdrawals in October £2.92 billion)
  • Business cash deposits exceeded £1 billion for the fifth month in succession
  • Post Offices in October saw highest amount of personal cash withdrawals all year at £692 million

Post Offices in October handled almost £3 billion in cash deposits and withdrawals continuing the strong performance seen in September.

Business cash deposits exceeded £1 billion for the fifth month in succession, although saw a 5% fall month-on-month (£1.06 billion, September 2021). Personal cash deposits dipped 1.8% month-on-month (£1.2 billion, October 2021 compared with £1.22 billion, September 2021). Overall, business and personal cash deposits were still up over 15% year-on-year.

Post Offices saw the highest amount of personal cash withdrawals all year in October with over £692 million taken out over the counter. That was up 1% on last month (£685.5 million, September 2021) and up almost 18% on last year (£589 million, October 2020).

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.