Cash is king; Post Office withdrawals increase

Overall, it handled a total of £801m, with £3.3bn being deposited and withdrawn over Post Office counters - the first time figures have crossed the £3.3bn threshold in its 360-year history. 

It also attributed the record amount for personal cash withdrawals at its 11,500 branches to more Brits choosing to have staycations in the UK, as well as people turning to cash to manage their budget on a week by week, or even a day-by-day basis. 

Additionally, it processed more than 600,000 cash payouts for people eligible to receive energy bill support from the government. This totalled around £90m and provided people with an opportunity to pay energy bills, top up gas electricity meters or use the cash to budget. 

Responding to these findings, the Post Office’s banking director Martin Kearsley said its latest figures show Britain is “anything but a cashless society". He added: “We’re seeing more and more people increasingly reliant on cash as the tried and tested way to manage a budget. 

“Whether that’s for a staycation in the UK or if it’s to help prepare for financial pressures expected in the autumn, cash access in every community is critical. Postmasters handling over £3.3bn in a single month demonstrates just how vital being able to deposit and withdraw cash, securely and conveniently, is for millions of people.”