How do I calculate daily interest rates on savings?

sloughflint

daisythecat wrote: »

Hi everyone

Good news, The Halifax have finally paid out to the sum of 1,171.40p, I think it was the fact that i'd finally had enough and went marching down to my branch in Hastings and kicked up a fuss, and demanded that it was sorted out before i left. I told them that i wrote in to this forum and got better advice than anyone at the Halifax was able to give me, so once again thanks to you all!!

Daisythecat, well done for doubting the Halifax.See, your Maths isn't that bad.;)

I hope that you will take this further and seek a breakdown of their calculations in writing. I won't attempt to try to work out how they reached that exact sum since I don't know what method the money was paid in but at least it is much closer to what one would expect.

Don't forget that you have will have lost interest on the amount that should have been paid to you in September.Was there no gesture to compensate for this?

There are a great many people who are confused by interest calculations and would have just accepted the amount paid. For the benefit of those people I do hope that you will make an external complaint.

iamesbo

As it appears that they tried to swindle you out of over £1000 I would refer the matter to the police.