Brits are using cash as a way to manage their budgets as inflation in the country is expected to peak at over 13% in October.
. this year intend to take out cash before doing so. Of those who have holidayed in the U.K. in the last five years, almost a third admitted to being caught out by not having cash on them.
In July, the Post Office processed more than 600,000 cash payouts for people eligible for energy bill support from the British government. That came to around £90 million and allowed people to pay energy bills, top up gas and electricity meters or use cash for easier budgeting. In total, £3.31 billion in cash deposits and withdrawals were processed at the Post Office in July, £100 million higher than in June.at 13.3% in October and to remain at elevated levels throughout much of 2023.The latest figures show Britain is"anything but a cashless society," said Martin Kearsley, banking director at the Post Office..
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