Cash transactions at post offices totalled £3.25bn in September, down compared with August when they were £3.34bn, new data reveals.
The latest Post Office figures show business and personal cash deposits totalled £2.4bn in September, this was down 3% month-on-month, and down on last September when the total was £2.5bn.
In addition, personal cash deposits totalled £1.31bn, which was the lowest amount since June 2023. Business cash deposits totalled £1.09bn, which was the lowest amount since April 2023.
Overall, the volume of cash deposit transactions was up more than 450,000 year-on-year. Business cash deposit volumes grew 6% year-on-year, indicating that businesses are taking less in cash takings, and in turn depositing smaller values but at higher volumes at their local post office.
Meanwhile, personal cash withdrawals at post offices across the UK totalled £818m in September, down 2% month-on-month and up over 4% year-on-year.
Martin Kearsley, Post Office Banking Director, said: “Last summer we experienced our highest ever cash deposits and transactions as people were able to enjoy a first summer without Covid-19 restrictions. This helps explain the dip in cash deposits at our branches this year in comparison, but is only part of an increasingly complex picture. For many people and businesses, cost-of-living challenges remain.”
