The Post Office has said it handled a record £801 million in personal cash withdrawals last month, up by eight per cent compared to June.

During the four-week period, over £3.3 billion in cash was deposited and withdrawn across the Post Office’s 11,500 branches , the first time figures have crossed the £3.3 billion threshold in the company's 360-year history.

The organisation says that the figures were driven by more ‘staycations’ in the UK and people becoming increasingly reliant on cash to manage their budget on a week-by-week, or even day-by-day basis amidst the backdrop of a cost-of-living crisis.

Post Office research last month found that 71 per cent of Brits planning on going on holiday in the UK this year plan to take out cash before leaving to go on holiday.

In July, the Post Office also processed over 600,000 cash payouts, totalling around £90 million, for people eligible to receive energy bill support from the UK Government.

“Our latest figures clearly show that Britain is anything but a cashless society,” said Martin Kearsley, banking director, Post Office. “We’re seeing more and more people increasingly reliant on cash as the tried and tested way to manage a budget.”

Kearsley added: “Whether that’s for a staycation in the UK or if it’s to help prepare for financial pressures expected in the autumn, cash access in every community is critical. Postmasters handling over £3.3 billion in a single month demonstrates just how vital being able to deposit and withdraw cash, securely and conveniently, is for millions of people.”

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