Brits are turning back to cash – says Post Office

By: Trademagazin editor Date: 2022. 08. 09. 08:58

According to new research by the Post Office, people are increasingly turning back to cash as they look to control their spending during the cost of living crisis and soaring inflation.

Post offices handled £801m in personal cash withdrawals in July, the most since records began five years ago

The Post Office revealed that personal cash withdrawals at its post offices rose by almost 8% month-on-month to a record £801 million in July – 20% year-on-year.

In total, over £3.3 billion in cash was deposited and withdrawn over post office counters in July to mark the first time figures have crossed the £3.3 billion threshold in the Post Office’s 360-year history.

In total, £3.32bn in cash was deposited and withdrawn at Post Office counters in July, £100m higher than in June.

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