Britons hoarding £3BILLION worth of unused foreign currency at home (and just 13% will convert money back into pounds)


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If you have a rogue Euro or five leftover from your last holiday, you're not alone. 

A new survey claims Britons are hoarding a whopping £3bn in unused foreign currency.

Two thirds of Britons admit to squirreling away their foreign currency after a holiday, rather than converting it back into to pounds. 

Two thirds of Britons admit to squirelling away their foreign currency after a holiday, rather than converting it

Two thirds of Britons admit to squirelling away their foreign currency after a holiday, rather than converting it

The average household has an average of £110.45 in leftover cash post trip, which according to the study, by Zopa, a peer-to-peer lending company, adds up to £2.92billion worth of discarded currency.

Shockingly, only 13 per cent of people bother to exchange money when they return from a holiday, so most of it ends up down the back of the sofa - and only 16 per cent of those asked said they plan to use it the next time they go away.

Two-thirds of people questioned said they had two or more types of foreign currency at home. 

Seventy-nine per cent of people admitted to having euros, 43 per cent had US dollars, seven per cent had Canadian dollars and Swiss Francs, six per cent  had Australian dollars and finally five per cent had Thai baht.

Lazy: Shockingly, only 13 per cent of people bother to exchange money when they return from a holiday
Lazy: Shockingly, only 13 per cent of people bother to exchange money when they return from a holiday

Lazy: Shockingly, only 13 per cent of people bother to exchange money when they return from a holiday

A Zopa spokesman said it is best to convert your money straight into the next currency you will need, to avoid the cost of exchanging it into pounds and then back again. 

If you are returning with notes, it's wise to exchange the currency back into sterling and reinvest it.

If you find yourself with superfluous coinage post holiday, plenty of charities run schemes allowing travellers can donate unwanted foreign currency to them.

 



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