Post offices handled £3.26bn in cash withdrawals and deposits in October, slightly down on the £3.35bn handled in September, new data reveals.
Post Office data shows personal cash deposits fell 6% month-on-month to £1.35bn compared with £1.43bn in September. Meanwhile, business cash deposits totalled £1.1bn in October, almost identical to September, and up more than 10% year-on-year.
The figures reveal cash withdrawals at Post Offices dipped 1% in October with £777m withdrawn over the counter at its 11,500 branches.
In the coming weeks, Banking Hubs in Brixham (Devon) and Cottingham (East Riding of Yorkshire) are expected to open. The hubs are shared spaces operated by Post Office and intended for communities whose access to cash has been restricted as a result of bank branch closures. Post Office already operates the two pilot hubs in Rochford and Cambuslang.
Martin Kearsley, Banking Director at Post Office, said: “We’re looking forward to working closely with the banking industry and participating banks so that these hubs can be opened and start fulfilling people’s banking needs as soon as possible.”
Post Office renewed its partnership with Trussell Trust last week and is donating 1p for every cash withdrawal at its 11,500 branches hoping to raise £330,000 for the charity.
