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Money

Company deposits at the Post Office fall 27.4% in December

The amount of cash withdrawn over the Post Workplace counter last month was the greatest it had remained in all of 2020, but money usage continues to lag pre-coronavirus levels. Around ₤ 641million was withdrawn by people in December, the most because ₤ 634million was withdrawn in March, while individual …

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New money worry as 167 bank branches set to be axed

More than 160 bank branches will shut for good between now and completion of lockdown, tentatively scheduled for late March. The closures will come as experts warn of an upcoming crisis over access to cash. They fear that unless immediate action is taken by banks, payment companies, regulators and the …

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Fear of bank closures as lockdown reduces usage of money

The lockdown from last year and the new limiting tiers might radically improve the monetary high street as more consumers avoid bank branches and free-to-use atm in favour of banking online and contactless payment. Research study conducted by software application company ThoughtWorks for The Mail on Sunday shows that nearly …

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Savers withdrew staggering ₤ 6.2 bn from NS&I accounts in November

Savers withdrew an incredible ₤ 6.2 billion from National Cost savings & Investments accounts in November after it slashed interest rates on some of its most popular products. Deposits with the Treasury-backed bank were ‘traditionally weak’ in November, the Bank of England said as it revealed its newest money and …

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