UK cash withdrawals hit a record high as Brits grapple with inflation


Post Office has attributed the record amount for personal cash withdrawals at its 11,500 branches to more staycations in the U.K. and people using cash to manage their budgets.

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Britain’s Post Office, which offers banking services as well as mail, handled a record £801 million ($967 million) in personal cash withdrawals in July.

In total, more than £3.3 billion in cash was withdrawn and deposited over the Post Office’s counters — the first time the amount has crossed the £3.3 billion threshold in its 360-year history.

Personal cash withdrawals were up almost 8% month on month at £744 in June, and up over 20% from a year ago to £665 million in July.



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