Anyone with £10,000 in a bank account has been issued a stark warning. Some 8.3 million current accounts in the UK hold £10,000 or more - with UK households who've breached the threshold missing out on hundreds of pounds a year in interest.

Leaving large sums of money idle in their current accounts could prove costly because an eye-watering 80 per cent of these accounts pay no interest at all.

Despite it being possible to earn returns of around 4.5% or more from some easy access savings accounts, savers hold a staggering £280 billion in current accounts which pay zero interest, meaning that the purchasing power of their cash is being gradually eroded by inflation.

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Derek Sprawling, Spring’s M

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