In July, UK Post Office processed £3.7bn in cash transactions due to bank branch closures.
In July, the Post Office in the UK processed a record £3.7 billion in cash transactions, driven by the closure of over 6,000 bank branches since 2015. With an average of 50 closures monthly, many customers are turning to the Post Office for banking needs. While 70 banking hubs have been established to provide basic services, the rollout is criticized for being too slow. The Post Office continues to recover from the Horizon IT scandal, maintaining about 10 million weekly visits.
September 01, 2024
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