22 May 2008
Consumers should not leave their cash at home and instead place it in a bank, Newcastle Building Society has said this week.
Senior Marketing Executive at the company Steve Urwin noted that this is a good move for security reasons, as money would be safer in a banking institution.
Moreover, he noted, those looking to save money will be disappointed if they do not see interest on their assets.
In "relative value", such funds may also decrease over time if they are left in the home environment, Mr Urwin commented, something that may also be of interest to those with current accounts.
He suggested: "Not only will savers not see their money grow, they will actually eventually see it decrease in terms of relative value."
Mr Urwin added that inflation will probably have a negative impact if money is stored way in an account.
Building societies saw demand rise in the latter half of last year, with savings products high up on the list, reports the Daily Mail.
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