Reply #18: Brits turn to their mattress for safe haven for their cash [View All]

[DemReadingDU]

By Jennifer Hill

LONDON (Reuters) - Almost half of Britons think people will ditch banks and stash their cash at home following the woes at Northern Rock, according to a survey.

Forty-five percent of people thought the liquidity crisis at the country's fifth largest listed bank will see consumers reject the banking sector.

Some 40 percent of the 1,500 people polled for insurer Cornhill Direct said storing money at home is a good idea.

Britons have 4.6 billion pounds in cash lying around in their homes: more than three-quarters of those questioned admit to stashing cash in their houses, an average 127 pounds.

The top hiding places for cash, according to the survey, range from drawers, tins and pockets, to under beds, mattresses, floorboards and in flowerpots. One respondent even stored cash in the freezer.

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http://uk.reuters.com/article/personalFinanceNews/idUKNOA82086720070928