At least one in five Brits have a forgotten bank account, some with as much as £100 in, while nearly half have unspent gift cards and loyalty points, averaging £17 each.
NatWest, which spoke to 2,000 adults, also found an average of £26.25 in foreign currency was lying in drawers discarded after trips abroad. The average amount sitting in a bank account that had not been used for 12 months was £32.15, although 18% of those surveyed believed they may have as much as £100 lying around.
Mo Watt, savings expert at NatWest, urged savers to spend a few minutes each day checking old gift cards, and looking for loose change that may have fallen down the back of the sofa.
She also advised savers to spend time changing their foreign currency and putting it into savings instead.
Watt said: “No matter how big or small, saving is always worthwhile, and it’s often surprising just how quickly the little wins can add up. It’s amazing to see just how much Brits might be sitting on unknowingly – whilst it might not seem like much, an extra £65 could go towards a meal out with friends, spending for your next holiday, or even just a little treat, so it’s worth paying attention to.”
NatWest’s research is part of its ‘Tomorrow Begins Today’ campaign which is aimed at helping Brits take small, manageable steps to gain better control of their money.
NatWest said it was committed to young people and families across the UK building positive financial habits.Watt said: ”We want to help them make the most of the tools and resources available today, and it starts with these easy wins.”
Gretel, a free service which helps Brits find lost savings and investments, said there was at least another £2.8 billion in lost investments and wealth funds, with the average account valued at £2,800.
Stevens added: “With £2.8 billion in dormant investment funds across the UK, this issue affects thousands of investors, particularly as investments are often seen as long-term and they can easily become overlooked and harder to trace over time.”
