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Business cash deposits down over 40% year-on-year, while personal customers continue to rely on Post Office for depositing cash during lockdown

Press release -

Business cash deposits down over 40% year-on-year, while personal customers continue to rely on Post Office for depositing cash during lockdown

  • Business cash deposits down 40.7% to £582 million in January 2021 compared with a year ago (£981 million), before the outbreak of Covid-19 in the UK
  • Personal cash deposits in January totalled £931.6 million. Whilst down £47 million compared with December, which always sees the biggest amount of deposits, is up 4.6% compared to January 2020 (£890.3 million)
  • Personal cash withdrawals totalled £463 million in January. This is the lowest amount withdrawn by personal customers since May 2020 when £450 million was withdrawn
  • 99% of Post Offices remain open l throughout this national lockdown, providing customers with essential banking, mails and bill payments services

Latest data from the Post Office’s January Cash Tracker shows the impact the Covid-19 pandemic has had on small businesses and the self-employed with business cash deposits down over 40% compared to January 2020. In contrast, personal cash deposits were up 4.6%.

Business cash deposits totalled £582 million last month. That compares to £788 million that was deposited in December. Post Office data indicates businesses were better prepared for the December lockdown compared with the first UK-wide lockdown in Spring last year when business deposits fell to £313 million in April. They totalled £345 million in May and £493 million in June before recovering over the summer.

In January, personal cash withdrawals amounted to £463 million. That was down almost 28% on December (£640.7 million) and also down 24.3% on January 2020 when £611 million was withdrawn. The figure for January was the lowest amount withdrawn at Post Offices counters since May 2020 (£450 million).

Overall, cash deposits and withdrawals by personal and business customers amounted to £1.99 billion in January. This compares to 2.43 billion in December 2020. December and the run-up to Christmas always sees the biggest cash deposits and withdrawals over the counter at Post Office’s 11,500 branches.

Commenting on January’s data, Martin Kearsley, Director of Banking at the Post Office, said:

“An over 40% fall in business cash deposits compared with same period last year continues to highlight the impact the Covid-19 lockdown is having on the UK’s small businesses and the self-employed who have traditionally relied on Post Offices to deposit their takings.

“It’s encouraging that personal cash deposits continue to rise. We have remained open during this lockdown to support our local communities. 99% of our branches are open, many late into the evenings and at the weekend, providing a critical cash service for personal and business customers.”

Post Office Cash tracker data – January 2021

Cash deposits value (business & personal)



Cash withdrawals value (business & personal)



Total cash deposits & withdrawal value for January 2021

































Northern Ireland








Business cash deposits

Personal cash deposits

Personal cash withdrawals

For further data and analysis, visit


About Post Office Cash Tracker and access to cash

Data included in this press release reflects cash services used under the Banking Framework. Over 30 banks and building societies are part of the Banking Framework which enables their customers to withdraw or deposit cash at any of the Post Office’s 11,500 branches. The figures exclude Post Office Card Account withdrawals.

Post Office is central to the success of the Community Access to Cash Pilots initiative led by Natalie Ceeney, Chair of the Access to Cash Review. Pilots will run in nine local communities to trial how to improve their access to cash, three of which will be trialling a new concept branch – a ‘BankHub’ – providing dedicated retail space on the high street, combining the cash-transaction facilities of a Post Office with access to community banking services offered by retail banks. Post Office is also refurbishing branches or providing pop up services in the remaining areas.

[1] Figures for cash deposits value and cash withdrawals value by country have been rounded to the nearest million. This is why value figures per country will not add up exactly to the total for the UK.


About the Post Office

  • With over 11,500 branches, Post Office has the biggest retail network in the UK, with more branches than all the banks and building societies combined.
  • Post Office is helping anyone who wants cash to get it whichever way is most convenient. Partnership with over 30 banks, building societies and credit unions means that 99% of UK bank customers can access their accounts at their Post Office.
  • Cash withdrawals, deposits and balance enquiries can be made securely and conveniently over the counter at any Post Office; and the biggest investment by any organisation or company in the last decade is being made to safeguard 1,400 free-to-use ATMs across the UK.
  • Post Office is simplifying its proposition for Postmasters with a focus on itscash and banking; mails and parcels; foreign exchange; and bill payments services.
  • Research has found that visits to the Post Office help drive another 400 million visitors to other shops, restaurants and local businesses equating to an estimated £1.1 billion in additional revenue for High Street businesses.
  • 99.7% of the population live within three miles of a Post Office; and 4,000 branches are open seven days a week.

Press contacts

Post Office Press Office

Post Office Press Office

Press contact Please note this line is strictly for the Post Office Media enquiries, not Royal Mail enquiries. 0207 012 3456
Karim Aziz

Karim Aziz

Press contact Head of Media Relations 0207 012 3456
Emma Hancock

Emma Hancock

Press contact Senior PR & Campaigns Manager 020 7012 3456
Sheila Tapster

Sheila Tapster

Press contact Press Officer 020 7012 3456

Welcome to the Post Office Media Centre, our online resource for news, information, photos and footage for journalists across the UK.

The Post Office has over 11,500 branches across the UK, 97% of these are run with retail partners on an agency or franchise basis. 99.7% of the population live within 3 miles of a Post Office and 93% live within 1 mile. Along with a significant online business, we are the biggest retail network in the UK, with more branches than all the banks and building societies combined.

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