Lloyds TSB December interest not showing yet

sheslookinhot

does it really matter to people if interest is a few days later than they expect.

D1zzy

sheslookinhot wrote: »

does it really matter to people if interest is a few days later than they expect.

Probably not - but if it doesn't appear when u expect, u start to wonder if you/they've efd up this month and may not get it at all - for me thats about £140 -so significant

home_alone

As I said a few posts ago my interest from Lloyds always arrives last so I do not expect it much before 22:00 today.

Jock_Tight

sheslookinhot wrote: »

does it really matter to people if interest is a few days later than they expect.

Thats 1-2 days less that interest is not making interest......robbing me of ~10-20p in the month.

This site is not moneywastingexpert

D1zzy

Jock_Tight wrote: »

Thats 1-2 days less that interest is not making interest......robbing me of ~10-20p in the month.

This site is not moneywastingexpert

I don't think it actually arrives late so you don't lose money.
I believe they pay out in the 2nd working day of the month (so tomorrow -except that Tuesday for LTSB starts about 10-11pm tonight-so tonight) and they calculate interest upto the previous day.
So (for interest) December 09 lasts to 3rd Jan 2010 (long month more interest) and Jan runs from the 4th (short month less interest).

D1zzy

Interest paid - £20.51 for 7K

Jock_Tight

D1zzy wrote: »

I don't think it actually arrives late so you don't lose money.
I believe they pay out in the 2nd working day of the month (so tomorrow -except that Tuesday for LTSB starts about 10-11pm tonight-so tonight) and they calculate interest upto the previous day.
So (for interest) December 09 lasts to 3rd Jan 2010 (long month more interest) and Jan runs from the 4th (short month less interest).

Thanks for that, makes sense

My interest was v(1) £19.90, v(2) £17.44

D1zzy

One thing I did find this month is that you can "borrow" money from yr account over a weekend without losing interest.
I was unsure when various payments in and out of my main account (not vantage) would be made over the new year weekend so moved some money in from a vantage account on 1st Jan to cover payments out, and moved it back on 4th.
The interest paid on that account is exactly the same as on the other Vantage accounts where the balance remained at 7K throughout

premierfella

D1zzy wrote: »

One thing I did find this month is that you can "borrow" money from yr account over a weekend without losing interest.
I was unsure when various payments in and out of my main account (not vantage) would be made over the new year weekend so moved some money in from a vantage account on 1st Jan to cover payments out, and moved it back on 4th.
The interest paid on that account is exactly the same as on the other Vantage accounts where the balance remained at 7K throughout

Interesting. It is also possible that this is an indication that the interest calculation is actually to the last working day or last actual day of the calendar month (i.e. 31DEC09) rather than to the close of business the day prior to the interest being credited.

D1zzy

premierfella wrote: »

Interesting. It is also possible that this is an indication that the interest calculation is actually to the last working day of the calendar month (i.e. 31DEC09) rather than to the close of business the day prior to the interest being credited.

I believe Interest calc is upto the first working day of the next month (hence why it varies so much)- so Interest for Dec 09 is calculated upto 4th Jan 2010 - hence long month so more interest this month (£20.51 for me on a static £7K - normal month is £19.?) - next month will be short.

(All the transactions (out on 1st and in on 4th - were all dated 4th) - so effectively the end of day balance did not drop below 7K.)