£50 billion of bank notes "missing" - WTAF?

[BoobsOnTheMoon]

Apparently equal to 3/4 of all UK banknotes

Where the fuck is it all? I guess drug trade etc but that is a LOT of money. Wouldn't it take about 100 years to count it all???

You can add that lot to the £65 million in missing pennies, and the £120 million in missing old one pound coins.
None of it is down the side of my sofa.

www.standard.co.uk/news/counting-the-cost-of-65million-in-lost-pennies-7207274.html

I know of a case where an elderly lady saved cash for years until her family found about £20k in her bedroom. She didn't trust banks.

I would imagine it's probably pretty common.

If you think about it...lots of families have penny jars and savings tins. I would imagine that accounts for quite a lot.

We manage to collect about £20 a year in our penny jar and about half of it is from found coins.

I once helped an elderly lady into hospital and she confided that the cushion she sat on on her chair contained £10000. The ward safe had to be pressed into service for that one.

@FlaviaAlbiaWantsLangClegBack

I know of a case where an elderly lady saved cash for years until her family found about £20k in her bedroom. She didn't trust banks.

I would imagine it's probably pretty common.

Isn't 50 billion, £750K each, including children though?

Isn't 50 billion, £750K each, including children though?
Ignore me! I was thinking a million million, not a thousand million.

'Isn't 50 billion, £750K each, including children though?'

No its nearer £750 each, which is about £730 more than floating around my house but that is offset by all the people with £10k under a mattress....

No, it's 50,000,000,000. So fewer than £1000 each!

Cleared out a flat last week and found coins everywhere about 200£ worth!!

So, if that's 3/4, then there are only enough banknotes for £1000 each?!

They are in Dominic Cummings secret vault.

Definitely older people keeping it at home, I know people who have safes at home instead of using a bank.

Interest rates are zero
People do not trust the banks or the government
Lots of people will be sitting on cash

We have all our money in cash in various safe spaces. I have zero trust in banks
Other than for my everyday spends and bill payments

Large sums are squirrelled away in cash that is accessible to me when I decide

Lots of it is probably overseas. Sterling is still seen as a safe currency to have, along with US dollars and euros.

FIL has around £12,000 in used notes in his kitchen cupboard. DH’s old aunt was the same, squirrelling it away to the tune of around £25,000 in used bank notes. Imagine if the majority of the over 70’s were all doing the same!

When my grandad died we found loads of rolls of cash all over the house. Pretty common I think

@FlaviaAlbiaWantsLangClegBack

I know of a case where an elderly lady saved cash for years until her family found about £20k in her bedroom. She didn't trust banks.

I would imagine it's probably pretty common.

When my grandad died, he told my grandma about hidden stashes of cash around the house (and in the greenhouse!!) and when it was all collected, there was apparently over 30k. He also 'didn't trust banks'. Seems to be quite common with the elderly.

I keep some of my savings in cash and have since I was a teen.

Oh oh.

I last went to the UK five years ago. I still have around £25 in bank notes and coins and €50.

I know several of my friends and relatives who have jars of bank notes from previous travels. My cousin has a jar with around £100 and refuses to exchange it until she visits the UK again as she says that it motivates her to visit soon.

It’s probably all in my nanas biscuit tin

I’d imagine cash in hand jobs have a lot moving about undeclared too. I’ve had a £20 in my wallet for a year due to corona and not using cash. How long until it’s registered as missing? If they put up a poster I hope I get a reward...

@FlaviaAlbiaWantsLangClegBack

I know of a case where an elderly lady saved cash for years until her family found about £20k in her bedroom. She didn't trust banks.

I would imagine it's probably pretty common.

My Grandad has done this!

How do they decide its missing?