Cash remains alive and well, say post offices

A report £665m in private money was withdrawn in July, the very best for any month ever recorded except for historically busy Decembers.

Whole money deposits (private and enterprise) rose barely, to £2.21bn in July from £2.18 billion in June.

Each private and enterprise deposits exceeded £1bn.

The Put up Workplace, which is operating a “Save Our Money” marketing campaign, says it supplies vital providers to those that use money and needs the federal government to underpin the long-term way forward for the money system.

Martin Kearsley, banking director on the Put up Workplace, stated: “Our postmasters are offering elevated assist to their native communities with a handy and safe option to withdraw money.

“As some banks proceed to shut branches, both completely or in response to workers shortages in the course of the pandemic, publish places of work are ‘the final counter on the town’ in lots of locations throughout the nation.

“Greater than £665m was withdrawn in a single month and this money is predominantly being spent in native companies, cafes and pubs on the Excessive Road.

“Put up places of work will proceed to play a key position in native communities’ money eco-system up and down the nation.

“Many branches are additionally open late within the night and at weekends, offering native companies with a handy location to deposit a lot wanted takings and in flip serve their very own prospects longer too.”

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