UK savers miss out on £12 billion a year as banks cash in

Bank of England figures show UK savers are missing outRory Poulter11:43, 03 Sep 2026Brits are missing out on £12billion a year in interest because hundreds of billions of pounds are being left sitting in accounts that pay nothing. An eyewatering £306billion is languishing in non-interest-bearing bank accounts, according to the latest Bank of England figures.‌That means savers could collectively be more than £12billion a year better off if the money was moved into accounts paying around 4%. The figures expose the staggering cost of failing to shop around for a better deal - with millions potentially allowing their banks to benefit while their own savings earn precisely nothing.‌The revelation comes as banks face growing political pressure over their bumper profits, with calls for a windfall