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The second Post Office Cash Tracker shows business deposits increased by 3.1% year-on-year in August, while personal deposits rose 16.3% year-on-year in August.
Cash deposits specifically by business customers amounted to £831m in August, compared to £313m In April. Cash deposits by personal customers in August totalled £945m, while £552m was withdrawn at the Post Office’s 11,500 counters.
Martin Kearsley, director of banking at Post Office, said: “There are definitely encouraging signs of a return to the use and importance of cash following the significant lockdown dip. We are seeing a month-on-month growth in business cash deposits since the start of lockdown as people return to work and venture out to our shops, pubs and restaurants and leisure and tourism attractions.”
