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It’s deposited into an easy access account, so savers can make withdrawals if they need to.

However Britons should be aware that this could impact the overall bonus that’s available.

Laura Suter, head of personal finance at AJ Bell, said: “The reality is that the scheme has been poorly advertised, so lots of people aren’t aware of the perks on offer if they were able to put a bit away each month.

“This is coupled with the fact that lots of people on benefits just don’t have spare money to put away each month, even if they wanted to.