**Post Office Banking Director Stresses Importance of Cash Safety in Everyday Use**
As the UK continues to adapt to a fast-evolving financial landscape, the role of cash remains a crucial topic, especially for those less inclined to digital payments. Ross Borkett, the Post Office’s Banking Director, has spoken out recently, highlighting the need for increased vigilance when handling cash in public and providing practical tips to help safeguard personal finances.
Borkett has emphasised the enduring relevance of cash, noting that millions across the country still rely on physical money for daily purchases, budgeting, and maintaining financial independence. With this in mind, he advises the public to plan ahead before leaving home, suggesting that individuals carry only the amount of cash they anticipate needing for their errands. This approach, he explains, does not only aid stronger budgeting habits but also reduces exposure to theft or accidental loss.
“In order to help people stay safe when dealing with cash, there are straightforward measures everyone can adopt,” Borkett stated. “By withdrawing just what you require for each trip, you protect yourself and stay on top of your finances. Many may not realise that at their local Post Office, they can withdraw precise amounts to the penny from their accounts, rather than broadly rounded sums from an ATM.”
Security, according to Borkett, also extends beyond limiting the quantity of cash one carries. He urges people to use secure containers, such as zipped wallets or bags, for their notes and coins, and to avoid showing their money in public spaces. “Only display your cash when necessary, such as during a purchase, and keep it out of view at all other times,” he suggested, underlining the importance of discretion.
Withdrawals should also be made at secure places wherever possible. The Post Office is described as an ideal location: customers can access their funds inside a branch, rather than using street-level cashpoints, giving them the reassurance of privacy as well as one-on-one interaction with staff. For small business owners, or anyone frequently handling larger amounts, Borkett recommends depositing cash regularly at the Post Office to keep proceeds out of harm’s way.
The banking director also raised concerns about the increasing shift towards cashless transactions, especially among businesses. He explained that, while digital payments are on the rise, many people – particularly those without access to digital banking or those who simply prefer traditional methods – remain dependent on cash. If more establishments refuse to accept cash, they risk excluding these customers, potentially impacting both service and revenue.
Beyond the issue of access, there are also practical business reasons to retain cash as a payment method. Borkett pointed out that operating in cash can help smaller enterprises save on merchant transaction fees. In addition, he warned of situations where reliance on electronic payment systems can be problematic, such as during technical failures, poor connectivity, or in the event of a cyberattack. By continuing to accept cash, companies ensure they remain operational even when digital infrastructure falters.
“Giving customers a choice between cash and digital options is not just about being inclusive – it’s a smart move for businesses looking to thrive under any circumstances,” Borkett remarked.
The Post Office continues to play a pivotal role in supporting communities with essential banking services. Beyond standard transactions like cash withdrawals, deposits, and balance checks, the organisation has expanded its reach through banking hubs. These initiatives, operated in conjunction with major banks, provide face-to-face banking and cash access in communities up and down the country. There are currently 176 such hubs open, with ongoing plans for further expansion.
Overall, the message from the Post Office is clear: while the payments landscape is changing, cash remains vital for many and should be protected accordingly, both by those spending it and by the businesses that serve them. Public awareness of simple safety routines, combined with the country-wide provision of secure cash services, can help ensure everyone’s money remains safe in a rapidly evolving world.