Lloyds Classic Plus 6% - is your interest correct this month?

steady__eddie

£9.76 is now shown as being paid on the 4th giving me a grand total of £9.96 for the month. This is on a cleared balance of £2.5k and obviously the funding requirement has been met.
I guess that no compo has been paid ?
Erring on the pedantic, my calcs suggest that this amount may be a few pence short, would anyone care to give a second opinion ? (£2.5k daily cleared balance, basic rate tax).
Cheers.

Milarky

I got an adjustment of £6.67 for August credited yesterday (4th) which, with my 7p originally credited, makes the interest correct (to within 3p) for August. However I still have a shortfall even after the pervious adjustment for July (not much - but it niggles) I shall phone that Lloyds number given above - as it looks like the branch is out of the loop. With luck they will agree to pay to my disputed interest for June/July without insisting on checking it (i.e. a credit today or in a few days) as they will want to clear the backlog.

The Next hurdle is next month - but at least I now know that they are capable of adjusting interest correctly so will aim to pay at the correct rate hereafter.

Geoffo_M

I had £8-85 credited yesterday, which is a few pence more than I had calculated. My calculation error? - or possibly a bit of goodwill compensation perhaps?

AP

steady__eddie wrote: »

£9.76 is now shown as being paid on the 4th giving me a grand total of £9.96 for the month. This is on a cleared balance of £2.5k and obviously the funding requirement has been met.
I guess that no compo has been paid ?
Erring on the pedantic, my calcs suggest that this amount may be a few pence short, would anyone care to give a second opinion ? (£2.5k daily cleared balance, basic rate tax).
Cheers.

You should receive:

£2,500 x 0.0584 x 0.8 x 31/365 = £9.92 for August, with the extra £0.04 being interest on interest.

Nothing is showing for me yet!

Like-a-Dream

Hi guys

Just to add that I also got the August interest adjustment... but still underpaid. The last interest payment that was spot on correct was May interest. Since then it's been underpaid and or paid late for June, July and August. If each month they're skimming 4 to 8p off each Classic Plus account is that enough to pay the shareholder's champagne?... to steal a few lines from another bank's commercial!

TSB - the most trusted bank NOT!

whu

my interest has also been adjusted now - at least they dealt with it quicker than last month!!

AP

The 5 September deadline has now passed and I still have not had my adjustment! Has anyone else not got it yet?

savingforoz

Yes, I got mine yesterday. Sorry to hear you've not got yours, AP. What a !!!!-up - bad enough to do it one month, but to do it the next month as well - so incompetent of Lloyds TSB!

AP

I rang customer service on 01733 347007 today and the guy gave me the usual explanation saying that they are aware of the problem which is affecting certain customers and that this will be sorted out within the next 2 weeks. I told him that this already happened before last month and that it was not acceptable that it went wrong in 2 consecutive months. I also told him to take note that should it happen again for the 3rd time, I will be closing my account with Lloyds TSB. He then said that all telephone conversation are recorded and so what I said to him would be noted.

lindos90

Just checked my statements, I assumed that initially the 'adjustment' was because I upgraded 'mid month' but its happened for three months on the trot, and i'd not noticed!!

On my joint account, Ive had FOUR interest payments/adjustments in september!!!!

What a mess, would have thought they could sorted it by now, interesting that it started around the same time that the 6% came out.

I always assumed that the interest would be correct, and never thought it could possibly be wrong.

I would now like to keep a manual check myself, but have no idea how to calculate if its correct, with money going out/coming into the account all the time, I cant do it by hand.

Im guessing there must be some software that could do the job? ...anyone got any suggestions?