4min chapter

The Martin Lewis Podcast cover image

Are your savings safe in the bank? (and paying to squeeze blackheads)

The Martin Lewis Podcast

CHAPTER

The Strangest Things You've Ever Paid Anyone to Do for You

Last week we covered pensions, but today we're looking at savings. They don't feel as safe as they were, but they're still pretty safe. Money under a bank is protected up to £85,000 per person per financial institution. But with £170 billion of extra cash built up during the pandemic, many older people do have more than that (£85,000) There'll be lots of people out there listening. Who's got savings? I always get that. We are a polarised nation. And it tends to be, if you don't have many savings, you don't know that many people with savings. The UK needs bigger deposit protection in the future.

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