New figures today reveal cash transactions totalled £3.33 billion at Post Offices in May – the highest level since last September (£3.35 billion).
In May, business and personal cash deposits totalled £2.48 billion. This was up 10% month-on-month (£2.26 billion, April 2023). There were over 5.5 million cash deposit transactions across Post Office’s 11,500 branches in May, up 7.5% year-on-year (5.16 million, May 2022).
Business cash deposits alone totalled £1.18 billion in May, up 10% month-on-month (£1.07 billion, April 2023). This was the highest level of business cash deposits since last August (£1.2 billion).
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As the leisure and hospitality sectors enter their busiest time of the year, the figures emphasise the important role Post Offices play in supporting small businesses by providing a convenient and fast way to deposit cash takings.
Personal cash withdrawals totalled £817 million in May, up 7.5% month-on-month (£760 million, April 2023).
Since 2015, a total of 5,632 banks and building societies have closed or are scheduled to close and over 500 bank branch closures have been announced for 2023 so far. Post Office has partnerships with over 30 banks, building societies and credit unions meaning that 99% of UK bank customers can access their accounts at their Post Office branch.
Martin Kearsley, Post Office Banking Director, said:
“Postmasters continue to provide vital everyday banking services to millions of people and thousands of small businesses each month. In many communities, Post Offices are the only location where banking can be done. With good weather forecast across the UK for June, Postmasters are on hand to support Britain’s pubs, restaurants, ice cream sellers, hoteliers and many others in the hospitality and leisure sector who rely on their local Post Office to deposit cash takings conveniently, quickly and securely.”
Post Office Cash tracker data – May 2023
| Cash deposits value (business & personal) | MOM% | YOY% | Cash withdrawals value (business & personal) | MOM% | YOY% | Total cash deposits & withdrawal value for May 2023 | |
| UK | £2.48bn | +9.8% | +0.3% | £846m | +7.6% | +6.1% | £3.33bn |
| England | £2.06bn | +10.0% | +1.1% | £657.3m | +7.6% | +5.8% | £2.71bn |
| Scotland | £172.3m | +9.9% | -5.0% | £60.1m | +7.4% | +3.6% | £232.4m |
| Wales | £126.8m | +10.7% | +0.1% | £67.1m | +7.9% | +3.7% | £193.9m |
| Northern Ireland | £124.3m | +4.9% | -3.8% | £61.4m | +7.1% | +14.6% | £185.7m |
