Check down the back of the sofa….

According to Credit Action, research by the Financial Services Compensation Scheme has found that Britons collectively keep over £7billion lying around their homes rather than in a savings account.

On average, people have £280 in cash at home, with 4% of people saying they have over £1,000 lying around and 1% admitting to keeping over £10,000 at home.

32% of people said they saw no point in depositing money with a bank or building society while interest rates are at such historic lows.

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