Drawers 'top place to stash cash'

Bank charges are one reason why people keep cash at home

Three quarters of Britons hide cash around their homes, with £4.6bn stashed in drawers, biscuit tins and cupboards across the UK, a report suggests.

The average person hides £127, but 8% of people surveyed by insurer Cornhill Direct had hidden away £300 to £1000.

The most popular place to hide cash is in drawers, while others keep money under beds, in wardrobes and in safes.

And 40% of the 1,500 people questioned thought storing money at home was a good idea.

Almost half said they liked having ready money and 13% said that they used their cash pile as a reserve fund.

A small number said they were tired of bank charges and worried about something untoward happening to their bank.

And 45% said the recent difficulties at Northern Rock could see more people exchange banks for keeping cash at home.

Top 10 places for hiding cash Drawers In a tin In pockets In a cupboard In a safe Wardrobe shelves Under the bed In a flower pot Under the mattress Under the floorboards

But others said they were just too lazy to keep going to the bank or building society to withdraw money.

A third of those questioned said they felt uneasy about keeping big sums of money at home, and one in ten said they had some of their money go missing.

Just over half of the people surveyed said their partner knew about their cash stash, but 36% said they kept their hoarded money secret from their partners.