Incorrect ISA interest.

BruceyBonus

I've been following this thread very carefully, as you will have seen.

Today I closed an old InvestDirect account. The most it has had all year is £100 (just used as a carpetbagging account). I've now taken out an e-Bond so don't need it.

I've recorded the date of every balance change and every interest change.

I calculated the interest at 81p. Using the 366 day thing and the projections as shown on Wikipedia, I get 80.6p. They paid me 65p interest. Over an amount that small I'm not going to complain, but their calculation is obviously incorrect somewhere.

BruceyBonus

BruceyBonus wrote: »

I've been following this thread very carefully, as you will have seen.

Today I closed an old InvestDirect account. The most it has had all year is £100 (just used as a carpetbagging account). I've now taken out an e-Bond so don't need it.

I've recorded the date of every balance change and every interest change.

I calculated the interest at 81p. Using the 366 day thing and the projections as shown on Wikipedia, I get 80.6p. They paid me 65p interest. Over an amount that small I'm not going to complain, but their calculation is obviously incorrect somewhere.

I've just realised what they've done. I've been taxed on it. So much for the R85 I sent them :mad: