Post Office’s cash handling hits record level again

Even so, business cash deposits actually dipped by 1.8% to £1.02bn in December, as Covid 19 restrictions cut takings for some businesses.

The broader increase for the Post Office in handling cash is largely put down to widespread bank closures.

Personal cash withdrawals were up 7.8% on November to £743m.

Martin Kearsley, banking director at the Post Office, said: “Postmasters kept their Post Offices open throughout the festive period serving their communities and providing a convenient and secure location for millions of people and businesses to do their everyday banking.

“Despite Covid-19 restrictions being introduced and some people’s natural desire to avoid going out to see friends and family before Christmas, it’s testament to the hard work of postmasters that a record £3.1 billion was processed at branches.”

The record cash handling figure coincided with the Post Office’s partnership with the Trussel Trust, which gave 1p to the charity for every cash withdrawal.