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Charities suffer as UK public hoards loose change

Charities suffer as UK public hoards loose change

Figures from UK Finance show that the British public are sitting on piles of loose change worth an estimated £50 million.

The research shows that due to Covid-19 lockdowns, people have held onto cash for three times longer than before and when people receive coins, many are storing them at home rather than spending or donating them. This is particularly the case with lower denomination coins - more than half of those surveyed said they usually leave 1p, 2p, 5p and 10p change at home.

Along with the Charities Aid Foundation, UK Finance is asking people to consider donating some of this spare change to charity.

The Charities Aid Foundation says that over half the charities they spoke to last year had seen a drop in donations. At the same time, 39 per cent of the charities surveyed reported increased demand for help from those in need.

Neil Heslop, chief executive of the Charities Aid Foundation, says: "Cash donations to charities, normally the country's most popular way of giving, saw a substantial decline during 2020 and remain at very low levels compared to previous years.

"As charities struggle to resume fundraising, while continuing to work on the frontlines of the response to the pandemic, donating spare loose change would be a huge show of much-needed support at a critical time."

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