Post Office cash handling continues to increase, despite temporary knock from February’s storms

Post by **TrueBlueTerrier** » 09 Mar 2022, 08:33

https://www.talkingretail.com/news/indu ... 8-03-2022/

Personal and business deposits in the UK were up by 38.7% last month compared with February 2021, while withdrawals rose by 33.9%.

The total deposits and withdrawals figure for February was £2.76bn, said the Post Office.

Personal cash withdrawals were up 3.2% month on month, despite the effect of storms Dudley and Eunice, an increase that was welcomed by the Post Office.

One reason for the continuing increase in the amount of cash handled by post offices is that so many bank branches are closing, leaving many post offices as the last cash counter in town.

A beneficiary has been hunger and poverty charity the Trussell Trust.

The Post Office has been donating 1p for every counter cash withdrawal and hopes to raise £250,000 by the end of March.

Martin Kearsley, banking director at the Post Office, said:

“We are incredibly proud of our partnership with the Trussell Trust and are heartened that customers continue to visit their local Post Office to withdraw cash over the counter.”