Bank of England data published in 2023 showed a net withdrawal of approximately £4.6 billion from UK household bank and building-society accounts in May, described at the time as the largest monthly outflow since records began in 1997. Analysts considered several possible explanations, including rising living costs and customers moving money toward higher-yielding investments. The figures highlighted pressure on household finances and the changing effects of higher interest rates, without by themselves establishing a widespread banking collapse.
