The Post Office handled a record amount of cash in July with customers either depositing or withdrawing more than £3.7bn. July’s record beat previous highs set in May, April and December. The increasing use of the Post Office to handle cash comes as the rate of closure of bank branches shows no sign of slowing.
More than 6,000 have shut their doors since 2015, an average of about 50 each month. Banking hubs are slowly being opened to try to offer the public similar services. There are around 70 already in operation with 100 expected to have opened their doors by Christmas.
They aim to provide access to cash for those who need it, and to allow small businesses to deposit takings.
But with hubs and post offices unable to provide much more than the basic banking services, the closure of branches is likely to remain contentious for a long time to come.
Source: BBC
In other news – Kensington Palace breaks silence at Prince William, and Harry’s reunion in UK
Prince Harry secretly flew to Britain for his uncle Lord Robert Fellowes funeral service, where his elder brother Prince William was also in attendance.
However, according to media reports William and Harry ‘did not speak’ as brothers ‘kept their distance. Read more
