And finally…£1.5bn in British piggy banks

The website also found that more Scots save money in a piggy bank than regularly into a bank or building society, with 82 per cent of Scottish people stashing cash at home, compared with 57 per cent who make regular savings into a bank or building society account.

The survey found that across the UK significantly more people drop money into a piggy bank or coin jar than make regular savings into a bank or building society account. 35.7 million Brits collect cash in a piggy bank or coin jar, compared with 26.9m who make regular savings into a bank or building society account.

Coin jar savings are more popular with women than men.

The survey found that 78 per cent of women have coin jar savings compared with 68 per cent of men. But, the average contents of men’s piggy banks are higher than women’s - £48.78 for men compared with £39.53 for women. The figures for bank and building society account savings were also slightly higher for men (56 per cent) than women (54 per cent).

When asked why they collect money in a piggy bank or penny jar, 58 per cent said they thought it was a good way to save; over half (53 per cent) did so because they simply don’t like carrying around loose change; while just under a quarter (24 per cent) use the savings for treats; 14 per cent use coin jars to save for something specific; 12 per cent said they thought it was a waste of time putting money into a savings account due to low interest rates.

Matt Sanders from GoCompare Money said: “While we might be moving closer to a cashless society, it seems that the humble piggy bank is still the first point of call for many people.”

“However, if you are a coin jar hoarder, be sure to check for old style £1 coins which will become worthless this year. The new 12-sided, bimetal, £1 coin came into circulation on 28 March 2017 and replaces the round £1 coin which will cease to be legal tender after 15 October 2017. If you have any loads of old £1 coins in your savings pots, then you will need to either exchange them at your bank or spend them before the deadline date otherwise your rainy day savings could be reduced to nothing.

Mr Sanders added: “Coin jar savings can quickly add up. In our survey 12 per cent of people with money in a jar or piggy bank reckon they’ve saved over £100, while 5% thought they’d squirrelled away over £250. So, if you’re one of those people who find that you’re regularly building up a reasonable sum of money in your coin jar it would be worth considering a more formal savings arrangement. Rather than wallowing in your piggy bank, your cash will work harder for you in a savings account or interest paying current account.”