Hidden Cash: Brits Sitting on £3 Billion in Unused Funds

Brits are sitting on a hidden cash pile worth a staggering £3 BILLION*, made up of unspent gift cards, small change, leftover foreign currency, and unused bank accounts, it has been revealed.

New research commissioned by NatWest has unearthed a treasure trove of small financial wins that could really add up, with the average Brit having £65 tucked away in various places.

• 1 in 5 (20%) have small sums in unused bank accounts, some with over £100 stashed away
• Foreign currency, cash down the sofa, and unspent gift cards add to the pile
• Receiving a discount code for an item you were planning on buying was voted the top small financial win in new research by NatWest

Where Is the Money Hidden?

A survey of 2,000 British adults, commissioned by NatWest, found:

• Almost half (47%) of Brits have unused gift cards stashed away at home, worth an average of £17.
• More than one in ten (11%) of those polled admitted to trying to use a gift card only to discover it had expired, resulting in an average of £25 per person being wasted.
• One in five (20%) Brits admitted to having bank accounts they’ve not used within the last 12 months. While the average sitting in these accounts is £32.15, a surprising 18% of those polled believe they have as much as £100 that could be put to use.
• Brits have an average of £26.25 in foreign currency left over from trips abroad, often forgotten in drawers.
• The average UK household has £7 in forgotten coins gathering dust – small change that can quickly add up.

The Feel-Good Factor of Small Financial Wins

Reclaiming these hidden funds could provide a small but welcome financial boost, with 84% of Brits agreeing that a small financial win is a sure-fire way to brighten their day.

Receiving a discount code for an item you were planning on buying was voted the top small financial win (57%), while others in the top ten included redeeming a free purchase with loyalty points (52%) and finding unexpected money around the house (32%).

Top 10 Small Financial Wins

The research uncovered the top ten small financial wins:

1. Getting a discount code for an item you were planning on buying – 57%
2. Redeeming loyalty points for a free purchase – 52%
3. Taking an item to the till and it being reduced upon purchase – 51%
4. Finding cash on the street – 36%
5. Finding unexpected money around the house – 32%
6. Finding an unused gift card – 20%
7. Cashing in loose change and getting more than expected – 12%
8. Finding foreign currency at home before a holiday – 11%
9. Using a roundup feature on everyday spending and seeing the amount grow – 10%
10. Using workplace benefits to save money – 10%

The Untapped Potential of Loyalty Programmes

Loyalty programmes are another untapped resource:

• 94% of Brits are signed up for various reward schemes.
• 27% admit they only occasionally or rarely redeem their points.
• The average Brit has £24 worth of loyalty points or vouchers waiting to be used, offering savings on coffee, groceries, and shopping.

Making Everyday Finances Work Harder

Reclaiming these forgotten funds is a simple way to boost finances. NatWest encourages the nation to take small steps to maximize these little wins, such as:

• Cashing in loyalty points before they expire.
• Checking old gift cards and using them.
• Exchanging leftover foreign currency and putting it into savings.
• Using banking tools that automatically set aside spare change, such as Round Ups, which rounds up NatWest debit card spending to the nearest pound and multiplies the spare change into savings.

NatWest’s Commitment to Financial Well-Being

The research supports NatWest’s broader commitment to helping people grow their financial confidence. As part of its ‘Tomorrow Begins Today’ brand platform, NatWest’s latest advertising campaign highlights the power of taking small, manageable steps to gain better control of finances.

Mo Watt, Savings Expert at NatWest, commented:

“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. Whether it’s converting old travel cash, using up loyalty points, or simply gathering loose change, these small wins can make a real difference.”