No Interest?

Marty21

I have a bank of scotland instant access savings account, Now its not my main savings account but still does have about £100 in it. But noticed today on my online banking its not been getting any interest since about Sep-Oct. Any ideas?
I have made a few small deposits in to it over the last few months just to keep it toped up.

RayWolfe

Have you looked at the current interest rate? Is is zero percent perchance?

Marty21

RayWolfe wrote: »

Have you looked at the current interest rate? Is is zero percent perchance?

Its 0.50% just now.

agsnu

You should be getting about 4p per month in interest. Ask your bank what happened to it, if you care enough.

Marty21

agsnu wrote: »

You should be getting about 4p per month in interest. Ask your bank what happened to it, if you care enough.

4ps better than nothing I only really use this account incase i dont have enough to pay a bill

glider3560

Annual interest maybe?

Marty21

glider3560 wrote: »

Annual interest maybe?

No as before it would always get paid in on the 28th of each month. But it just suddenly stopped:(

glider3560

I think the bank will be able to give you an answer. On here people can only speculate.

Marty21

glider3560 wrote: »

I think the bank will be able to give you an answer. On here people can only speculate.

Im going in to my local branch sometime next week so shall ask then

opinions4u

I had a similar thing happen to me on mine, after an IASA Reward reached its anniversary.

I never actually found out why, but did get all my interest when I closed the account (and opened a new 'Reward' ).

Page 8 of the T&Cs states:

We work out the interest daily. You may tell us the date on which you prefer us to pay your interest into your account.
You may only change your preferred date once in any calendar year. If you do not choose a date we will pay it into your

account on the last bank working day of each month (if you choose to have your interest paid monthly) or (if you choose

to have your interest paid annually) on the last bank working day in February.

No idea if this means your missing interest will arrive at the end of February, but given the amount involved it probably isn't worth the shoe leather of walking in to a branch!

If you have a current account funded with £1k+ a month they have a very generous offer that will increase your interest amount by a stunning 40% ... from 50p a year to 70p (before tax)!

Marty21

opinions4u wrote: »

I had a similar thing happen to me on mine, after an IASA Reward reached its anniversary.

I never actually found out why, but did get all my interest when I closed the account (and opened a new 'Reward' ).

Page 8 of the T&Cs states:

No idea if this means your missing interest will arrive at the end of February, but given the amount involved it probably isn't worth the shoe leather of walking in to a branch!

If you have a current account funded with £1k+ a month they have a very generous offer that will increase your interest amount by a stunning 40% ... from 50p a year to 70p (before tax)!

Mine reached anniversary the month before interest stopped:think:

Ohwell shall find out when i cash some cheques on tuesday:)