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Britons keep £5.6bn cash at home
British households contain £5.6bn in cash – excluding money in wallets and handbags – and one in 10 consumers thinks it is safer than keeping it in the bank. The average home has £216 stashed away, according to a survey from the Financial Services Compensation Scheme (FSCS). While a third of people said that they kept less than £20 at home, as surprising 3pc said they had more than £1,000. The FSCS warned that often this cash was unprotected, as it was not covered by many home contents insurance policies. Even the most comprehensive cover only insures cash amounts of up to £1,000 in the home. The FSCS found ... (full story)
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