Dixon Junior Gao-Cheung

Bank customers withdrew record amount of savings in May

On 29 June 2023, the Bank of England announced that in May, households had withdrawn £4.6 billion from bank and building society accounts net of savings, with the figure being the highest since records started. However, May’s large withdrawal figures are not part of a long-running trend, but rather a...
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Posted Aug. 18, 2023