Overview

• Spring’s analysis reports 6.4 million current accounts holding at least £10,000 pay no interest, with an average balance of £34,857.
• Within that, 323,000 accounts contain £100,000 or more at 0% interest, equating to just over £32 billion sitting idle.
• Across 84.9 million current accounts in credit, 74.7 million—88%—earn no interest, and the average balance on those zero‑interest accounts is £4,236.
• With CPI at 3.8% in August, experts warn cash in 0% accounts is losing value in real terms despite many easy‑access and fixed‑term products still offering rates above 3–4%, according to the FCA.
• The Bank of England held Bank Rate at 4% on Thursday, and the FCA cites Consumer Duty expectations for firms to engage customers in poor‑value accounts, with advisers urging simple switches or app‑linked savings options.