Coventry First

Gordon_the_Moron

Terms_and_Conditions wrote:

You'll earn interest on your money from the first day that a deposit is made (unless the account is overdrawn), up to and including the day before a withdrawal is made. Interest is not earned on the day of a withdrawal.

Does that mean no interest is paid on the amount that is withdrawn on the day it is withdrawn OR no interest is paid on the whole balance of the account on a day you make a withdrawal?

oldfella

I would guess it is referring to the amount withdrawn

suggest ask them to confirm

Mike

Gordon_the_Moron

I will, just wondered if anyone else could save me the trouble

p.s. does that make sense gordon is full of vodka and cointreau (don't worry money savers, tesco value vodka with tesco value orange and the cointreau was on offer at tesco too, the black sambuca i wanted wasnt available the swines lol)

johnmoney05

Gordon_the_Moron wrote:

Quote:
Originally Posted by Terms and Conditions
You'll earn interest on your money from the first day that a deposit is made (unless the account is overdrawn), up to and including the day before a withdrawal is made. Interest is not earned on the day of a withdrawal.

Does that mean no interest is paid on the amount that is withdrawn on the day it is withdrawn OR no interest is paid on the whole balance of the account on a day you make a withdrawal?

"A withdrawal"....I would think it means the amount of "A withdrawal".

Gordon_the_Moron

Uninebriated Gordon has returned fit and well :beer:

I've E-mailed Coventry just to be sure but if it was the whole balance (I think it is a bit ambigous) I think the best current account article would warn you about it as it would significantly cut the amount you actually earned on a current account if you had to never make a withdrawal to earn the full rate of interest.

Gordon_the_Moron

They've replied all ready and yes the rest of the balance does earn interest, just the amount withdrawn.