Post offices handled £3.37bn worth of cash deposits and withdrawals in January 2024, up over £140m on January 2023, new data reveals.
Personal cash deposits totalled £1.42bn in January, just short of the all-time record set for a single month, which was in September 2022. Personal cash deposits were up almost 8% month-on-month and up 2.5% year-on-year.
Business cash deposits totalled £1.14bn in January – the highest amount in a single month since June 2023 (£1.17bn). The data shows business cash deposits were up almost 4% month-on-month and up 3.3% year-on-year.
In December, Post Office’s 11,500 branches saw a record £930m worth of personal cash withdrawals. In January, personal cash withdrawals over the counter totalled £778m. This was up 10% year-on-year.
Ross Borkett, Post Office Banking Director, said: “Postmasters and their teams keep their branches open long hours so that millions of people can access their cash conveniently and securely and they value face-to-face interaction when doing their everyday banking.
“Over 13 million cash transactions took place in January and we will continue to do all we can to support people to continue to do their everyday banking with their local Postmaster.”
Post Office has partnerships with more than 30 banks, building societies and credit unions meaning that 99% of UK bank customers can access their accounts at their post office branch.
