Money deposits and withdrawals at Publish Workplace branches have topped £3 billion in a single month for the primary time.
The milestone was reached in November, when the Publish Workplace dealt with the best amount of money in a single month in its 360-year historical past.
In whole, £3.01 billion was deposited and withdrawn by private and enterprise clients throughout the UK.
The Publish Workplace additionally recorded its greatest month for private money withdrawals in November, with £743 million withdrawn over its 11,500 counters, up by 7% month on month. The earlier peak was in December 2019, when £707 million was withdrawn.
Publish Workplace branches additionally dealt with £1.04 billion in enterprise money deposits in November, a complete which was up by 4% month on month.
A current Publish Workplace survey discovered almost half (44%) of small hospitality and leisure companies within the UK depend on money each day.
Enterprise money deposits on the Publish Workplace have exceeded £1 billion each month since June 2021.
Financial institution department closures have spurred some clients to go to Publish Workplace branches for his or her money wants. The Publish Workplace has an settlement with many banks which permits clients to do their on a regular basis banking at its branches.
Many branches are open lengthy hours and at weekends, the Publish Workplace mentioned.
Martin Kearsley, banking director at Publish Workplace, mentioned: “Every month comes information of additional financial institution department closures and, in lots of communities throughout the nation, Publish Workplace is already the final counter on the town.
“Enterprise and private money deposits, in addition to private money withdrawals, are all considerably up on final yr and postmasters at the moment are routinely dealing with round £3 billion value of money each month.
“Publish Workplace’s companies make sure the tens of millions of people that depend on money on a regular basis can entry their money in a fast, handy and safe method and we’re working carefully with the banks to develop shared branches and supply wider companies.”
There have been 736 financial institution department closures this yr up to now, with one other 220 deliberate to go in 2022, in line with figures lately launched by Which?
Commerce affiliation UK Finance has mentioned the banking and finance trade is dedicated to making sure there’s continued entry to money for many who want it, now and sooner or later.