The Post Office said that the personal value of cash withdrawals rose by 12.5% in June and personal cash taken out stood at £836.21 million up by 2.4% month on month.
This shows that households are taking money out of their savings amid the continued rise in the cost of living.
Figures released by the Bank of England showed that a record £4.6 billion was taken out of building societies and banks in May, which is the highest since records began in October 1997.
The total value of personal and business cash withdrawals along with deposits in June stood at £3.35 billion, which was the highest since September 2022, the Post Office said.
Martin Kearsley, Post Office banking director, said, “Postmasters continuing to handle well over £3 billion each month demonstrates just how vital being able to deposit and withdraw cash securely and conveniently is for millions of people.
“These figures clearly show that Britain is anything but a cashless society and people are reliant on cash as the tried-and-tested way to manage a budget.”
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