After a record-breaking April and May, cash transactions have dropped in June due to unseasonable weather, according to the Post Office’s cash tracker data.
UK cash transactions in June 2024 totalled £3.43bn, with cash deposits worth £2.55bn, down -3.8%MOM and up +2.8% YOY. Cash withdrawals were valued at £880.7m, down -4.6% MOM, and up +1.5% YOY.
Scotland suffered more pronounced MOM declines. Total cash transactions for June were worth £230.9m, with total cash deposits value down -4.2% MOM, and up +2.2% YOY to a total of £171.2m. Cash withdrawals carried a value of £59.7m, down -6.7% MOM and -2% YOY.
Ross Borkett, Banking Director at Post Office, said: “Post Offices play a vital role in supporting small businesses to trade by providing a convenient and secure location to deposit their cash takings with many branches open long hours and some at weekends. Following two consecutive record-breaking months for cash handling at Post Offices, June’s cool and wet weather slightly impacted takings in the hospitality and leisure sectors contributing to a small drop in business cash deposits at our branches last month.”
