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Barbara Hodgson

How safe is your money during the coronavirus crisis? Martin Lewis explains all

With millions of families in a state of limbo as their lives are put on hold during the coronavirus lockdown, money issues are only adding to their concerns.

So Money Saving Expert Martin Lewis was the obvious choice to answer their main question on Good Morning Britain as to whether people's savings are safe in such troubled times.

During an interview by video link with the ITV show's studio, Lewis tried to put people's' minds at ease as he responded to an inquiry from a viewer.

He stressed that money is safer in the bank than kept in the house and that protections in place in banks are far higher than home insurance pay outs would be.

And he confirmed that UK savings accounts are protected.

This applies, said Lewis, to savings of up to £85,000 in any financial institution in Britain.

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