Interest on 0% balance?

hedgehopper_2

Should I be being charged interest on a balance of zero? I paid off a card from Lloyds last month, and have just noticed they are still adding on interest (a few pence) which I didn't realise could happen. Is this normal?

zzzLazyDaisy

What can happen is that you pay off the balance but there is outstanding interest that has not yet been added to the account. Because you have reduced the balance to zero, you don't think to check, and so this balance caused by the outstanding interest continues to attract interest.

You need to speak to the bank, if you are lucky they may agree to write it off.

mark5

My lloyds c/c has done this in the past, I put it down to the interest charged on the outstanding balance between the time the statement was printed and the payment made.

In the past when its been interest of say £1 outstanding, it says no payment is needed to be made, so I dont make one.
The same again the next month etc, then after a few months my statement will show a credit from lloyds clearing the balance. it probably costs them more in admin than its worth!