Britain’s Post Office, which provides both mail and banking services across its 11,500 branches, handled a record £3.2 billion of cash in March. People across the nation are struggling with rising bills and many are turning to physical money in order to take control of their budgets.
The Post Office reports personal cash deposits were up 15 percent month-on-month at £1.31 billion in March, even higher than the typically busy holiday period in December 2021 when the figure was £1.27 billion. Business deposits saw an equal percentage increase, reaching £1.09 billion, above the previous high of £1.06 billion seen in September 2021.
Personal cash withdrawals have risen 20 percent month-on-month to £779 million. This is only exceeded by the Christmas rush of December 2021 when the figure stood at £801 million.
