{"id":290251,"date":"2025-11-29T20:11:08","date_gmt":"2025-11-29T20:11:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/290251\/"},"modified":"2025-11-29T20:11:08","modified_gmt":"2025-11-29T20:11:08","slug":"britons-with-10000-in-the-bank-urged-to-act-now-or-risk-losing-400","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/290251\/","title":{"rendered":"Britons with \u00a310,000 in the bank urged to act now or risk losing \u00a3400"},"content":{"rendered":"

Britons keeping \u00a310,000 sitting in their current account are being urged to take action as their savings could be at risk.<\/p>\n

With most current accounts paying zero interest and inflation running at 3.6 per cent, money left idle is steadily shrinking in real terms and losing value.<\/p>\n

New analysis reveals that an astonishing 6.4 million UK current accounts contain balances of at least \u00a310,000 whilst generating zero interest returns. <\/p>\n

Data from Spring Savings indicates that amongst these, 323,000 accounts hold \u00a3100,000 or more.<\/p>\n

George Sweeney from comparison website Finder said: “If you’ve got a large cash buffer sitting in one of these accounts, it will actually be losing value the longer it remains idle, due to the eroding rising prices.”<\/p>\n

He recommend transferring surplus funds into easy-access savings accounts or ISAs, which currently offer approximately 4 per cent interest rates.<\/p>\n

Mr Sweeney suggests: “The smart move is to keep large cash balances in an easy-access cash Isa. You can put in up to \u00a320,000 this financial year and next, before the limit drops for under 65s to \u00a312,000 in April 2027.”<\/p>\n

Moving \u00a310,000 into such accounts would generate roughly \u00a3400 annually.<\/p>\n

\"Couple<\/p>\n

Britons with \u00a310,000 in the bank urged to act now or risk losing an extra \u00a3400<\/p>\n

| GETTY<\/p>\n

Financial experts suggest maintaining approximately \u00a31,000 in current accounts to cover regular bills and direct debit payments. <\/p>\n

Andrew Hagger, who founded personal finance website MoneyComms, advises: “If you’ve always got a few thousand sitting in your bank once your bills have been paid, you would be better off by switching some into an easy access savings account.” <\/p>\n

Keeping substantial sums in current accounts proves costly as inflation steadily diminishes purchasing power. With inflation running at 3.6 per cent, money sitting idle loses value in real terms.<\/p>\n

LATEST DEVELOPMENTS<\/p>\n

\"Woman<\/p>\n

Smaller amounts would still yield meaningful returns, with \u00a37,000 producing \u00a3280<\/p>\n

| GETTY<\/p>\n

Mr Hagger describes these balances as “dead money,” explaining: “Banks are happy for people to do this as it’s free money they can lend out and make a nice return at the customer’s expense.”<\/p>\n

Smaller amounts would still yield meaningful returns, with \u00a37,000 producing \u00a3280 and \u00a34,000 generating \u00a3160 over twelve months.<\/p>\n

These accounts maintain flexibility whilst protecting savings from inflation’s erosive effects.<\/p>\n

Transferring funds between accounts has become increasingly straightforward with modern banking technology. <\/p>\n

Mr Hagger notes: “If you have an online savings easy access account you can switch funds into your current account instantly in some cases and within 24 hours in most instances.”<\/p>\n

This accessibility removes traditional barriers to optimising savings whilst maintaining liquidity for unexpected expenses.<\/p>\n

\"Bank<\/p>\n

Modest changes could deliver substantial benefits for UK savers<\/p>\n

| GETTY<\/p>\n

As 2026 approaches, Hagger offers timely advice: “Maybe make it your first New Years resolution for 2026 to make better use of that dead cash in your bank account.”<\/p>\n

With millions of pounds languishing in zero-interest accounts, even modest changes could deliver substantial benefits for UK savers.<\/p>\n","protected":false},"excerpt":{"rendered":"Britons keeping \u00a310,000 sitting in their current account are being urged to take action as their savings could…\n","protected":false},"author":2,"featured_media":290252,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,1294,1431,2222,3668,56,54,55],"class_list":{"0":"post-290251","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-inflation","11":"tag-money","12":"tag-savings","13":"tag-uk","14":"tag-united-kingdom","15":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/290251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=290251"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/290251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/290252"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=290251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=290251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=290251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}