There was a significant increase in cash transactions at Post Office branches in April, with cash deposits and withdrawals across the counter totalling £3.48bn across 11,500 branches, their highest levels ever.
Total cash deposits (business and personal) stood at £2.62bn in April, marking an increase of 4.7% month on month and a significant 26.5% increase year on year.
Total withdrawals amounted to £864.9m, despite a slight month-on-month decrease of 0.77%. However, year on year, withdrawals saw an increase of 20.4%.
The Post Office recently partnered with Monzo to expand its Everyday Banking services, offering cash deposit facilities for Monzo customers at all branches nationwide, which has contributed to the increased figures.
Ross Borkett, Banking Director at Post Office said: “The fact that we are seeing the highest-ever levels of cash withdrawals and deposits demonstrates the growing importance of our services in providing access to cash for customers and businesses across the UK.”
