Chinese fisherman Wu Chen didn’t trust the banks with his life-savings so he decided to bury it.

Unfortunately for the 67-year-old pensioner, he never could have guessed his $35,000 RMB ($5469 USD) nest egg would be eaten by worms.

After burying his stash in an ‘eco-friendly’ bag five years ago, Chen returned to withdraw some money recently only to discover most of it was gone.

The bag was biodegradable, allowing worms and insects to make their way into Chen’s savings.

“I did not expect to open the plastic bag and see thirty-five thousand yuan in cash all damaged, some rotten became very fine,” Chen said to People’s Daily Online.

In an ironic twist of fate, the bank that Chen had found untrustworthy came to the rescue by offering to swap the notes that were in good enough condition for fresh ones.

The bank was able to save around 20,000 RMB ($3125 USD) with the rest far too damaged to be repaired.

Bank staff reminded people that burying cash is not a good idea because it will become damp and rot easily.

They said putting the majority of your money in the bank is the best option to avoid mildew, rot, fire or stealing.

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