Don't understand Interest on Icesave A/C

rosebud666

I don't understand how my interest was calculated, any maths wizz out there?
I had a payment of £168.66 sent to my bank 6th October, for September'sinterest, which never got to my bank. This does not show as being recredited to my A/C but a payment for £157.42 was added 10/10/08. Now as far as I can see I should have my September payment (£168.66) plus seven days interest for October.
I have been told I will have to fill in more forms if I don't ageee with the amount they are giving me so would like to be sure of my sums first.

Thanks Rose

chardir

157.42 represents 28/30 (28 days) of 168.66. Are you sure that your 6th October payment is for Sept 1st-30th interest and not for Sept 10th to Oct 9th?

rosebud666

chardir wrote: »

157.42 represents 28/30 (28 days) of 168.66. Are you sure that your 6th October payment is for Sept 1st-30th interest and not for Sept 10th to Oct 9th?

No, not sure, but I think you must be right. It isn't so much the money as the puzzle of how they arrived at that total, thanks.:T

cos69

What date was your account opened on - interest calculation will also depend on that to determine number of days

rosebud666

Thanks cos69, I have found my welcome letter and that is dated the 6th, so mystery solved. (apologies to person who more or less said that before, just me slow on the up take) I have two, much smaller, A/c's but no more checking from me!