is this unethical..?

lapat

i currentley have a few quid in a well known banks online account from a sale of my previous house sale..
it is a short term amount of money as it is going back into my mortgage when my current deal is up in late april

with the online bank i have 4 online accounts for different things but all at the same interest rate.
now back in november i sussed out that if i moved the monies between accounts a couple of days before the interest was paid(there all paid on different days of the month)i earned interest on the whole amount not just what i had in the account for the rest of the month.

1. is this illegal
2. is this unethical
3.should i carry on

the dilema ive got is im earning nearley £300 per month which is currently gone into over payments on my morgate and i dont want to give this up,i was actually thinking of keeping the money in the account if it wasnt illegal for another year and pay the excess on the extra i have on my morgate which would be approx £120 per month so im still £180 better off

advice and help would be greatley appreciated

ManAtHome

£80-£100k could return around £300 a month (depending whether it's gross or savings tax paid). If you have £20-25k it's probably working (although like Al Mac, I'd be surprised).

innovate

lapat wrote:

1. is this illegal

Unlikely if you have been paid by the bank - check the T&Cs you signed

lapat wrote:

2. is this unethical

you are the judge - why do you ask

lapat wrote:

3.should i carry on

If you are happy that you are doing nothing illegal, and if you can reconcile the ethics of what you are doing - of course!

lapat

thanks everyone for your coments
im going to carry on for as long as i can and if they catch on ill plead ignorance

CopperPlate_2

And have to pay it back. Bit difficult if it's gone into your mortgage I'd say, unless you can drawdown without penalty.

CP