Cash sales on the increase following lockdown dip

Figures in the UK indicate that cash may be making a comeback, following a dip in cash sales during lockdown.

According to the Post Office cash tracker, business customers deposited £831 million, up by 3.1 per cent compared with July.

Meanwhile, £945 million was deposited in cash by personal customers at Post Office counters – a 16.3 per cent increase compared with the same month a year earlier.

The Post Office said this reflects people depositing cash built up during the lockdown period, at a time when many banks were operating reduced opening hours.

Martin Kearsley, director of banking at the 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.”