Where Are You Keeping Your Savings?
Households across the UK have more than £7 billion in cash stashed away in shoe boxes, inside biscuit barrels and in drawers, according to a survey carried out by the Financial Service Compensation Scheme.
It found that the average home has over £280 lying around, and that’s not including money found in purses and wallets.
Putting your hard earned cash in a bank, building society or credit union is the best way to keep your money safe, and now the FSCS is reminding consumers that since 31 December 2010, savings of up to £85,000 are protected in case the organisation they bank with goes bust.
Listen to our exclusive podcast featuring Mark Neale, the Chief Executive of the Financial Services Compensation Scheme talking about why savers are still stashing their cash under the bed....
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