Analysis of pre-pay day positive current account balances by first direct has revealed that almost two thirds of its customers have a positive balance in their current account on the day before they get paid, at an average float of £2,590.
However, by moving this money to a savings account with a better rate of interest, workers have been told their money could have grown even further.
The analysis also revealed that the average float held in customers' current accounts had grown by 5% over the past year, from £2,455 in September 2009 to £2,590 in August 2010.
With the rise being ahead of wage inflation, it suggests people are being more careful with their income.
Yet if they had moved this sum into a savings account, it could have earned considerably more interest.
All sorts of savings accounts are available, most of which are likely to pay a rate of interest higher than that available through a current account.
Well known providers such as Northern Rock, Santander and Halifax are all currently offering some cracking savings deals in the form of cash ISAs and fixed rate bonds.
"It is incredible that across the UK there is £47.6 billion that is potentially not working as hard as it could be for the country's workforce," said Richard Brown, senior savings product manager at first direct.
"By simply transferring the excess cash in your savings account at the end of each month, you could accrue a substantial sum in a savings pot.
"This is cash that is otherwise absorbed into your next salary deposit which could in fact be working far harder for you in another account."
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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