New MSE Bank Charges Interest Calculator

Former_MSE_Dan

Just to confirm what martin said, this calculator uses more decimal places when calculating the interest than the CAG one, which should explain the slight differences.

Dan

cazziebo

I sat for a couple of hours last night on the CAG spreadsheets, to find this one in my mailbox today!

Was much easier to use, although no space to write in what the charges are for - does that matter?

Anyway - testing it out. LBA away today

thanks so much (donation on its way when I'm successful - oops nearly said if!)

Cazzie
xx

Basil_Fawlty

I notice when I ttried to enter the charges due to be applied on 30th November, it calculated negative interesta nd reduced the amounts.

How do I list these on the schedule printout without the minus charges in interest?

trishdunn

Has anyone noticed that the day and month reverse once you hit enter? It confused me for a bit. I wasn't sure whether I was, in fact, entering the data correctly. Just seems confusing. Especially when you consider that once you get to this stage, the last thing you need is to be concerned whether or not you're giving accurate information regarding a court case. Yikes. Other than that, I think it's awesome. Of course, it would be great to be able to identify the type of charge as well.

In any case, THANKS! : )

cazziebo

I'm just filing an MCOL claim and want to include an additional £170 in charges from last month (which have been levied since LBA letter)

How do I do that? The calculator zeros other charges - I don't seem to be able to add them on. (I'm on a mac if that's making the difference)

Any help gratefully recieved

Thanks

Cazzie

carrielouise80

hello.

apologies if this is a really dumb, obvious question...

But how do you save the calculator spread sheet to your PC? i can only see a print button

Edinburghlass_2

Haven't a clue but hopefully someone will come along who knows

cbmx6

MSE_Dan wrote:

Just to confirm what martin said, this calculator uses more decimal places when calculating the interest than the CAG one, which should explain the slight differences.

Dan

I'm not so sure this is true. Can you explain how you came to the figure of 0.0002108 as the daily interest multiplier? To my mind it should be 0.08 divided by 365, which comes to 0.000219178, a very different number. I checked this against one of the CAG google spreadsheets and it appeared to agree with me.

Former_MSE_Dan

Hi guys,

Thanks for the feedback, just thought i would run through some of the issues

trishdunn wrote:

Has anyone noticed that the day and month reverse once you hit enter? It confused me for a bit. I wasn't sure whether I was, in fact, entering the data correctly.

Yep, we spotted that and it's in the pipeline to be switched. Unfortunately i'm reliably informed by the techies that it isn't quite as simpleas you'd think, so watch this space for that one

Basil_Fawlty wrote:

I notice when I ttried to enter the charges due to be applied on 30th November, it calculated negative interesta nd reduced the amounts.

How do I list these on the schedule printout without the minus charges in interest?

carrielouise80 wrote:

hello.

apologies if this is a really dumb, obvious question...

But how do you save the calculator spread sheet to your PC? i can only see a print button

For both of these, again it's in the pipeline. However, you can get around it by simply highlighting everything in the Print window (Ctrl+A), Copying it (Ctrl+C), then pasting into your wordprocessor. Then you can edit it, or add charges without interest etc etc. before printing

cbmx6 wrote:

I'm not so sure this is true. Can you explain how you came to the figure of 0.0002108 as the daily interest multiplier? To my mind it should be 0.08 divided by 365, which comes to 0.000219178, a very different number. I checked this against one of the CAG google spreadsheets and it appeared to agree with me.

We used this standard method of calculating daily interest

i.e. (1.08^(1/365))-1 = 0.000210874


Hope this helps

Dan

johnbrooks

Can someone explain how the calculator on this site works and why? It seems to calculate interest from the date of charge up to 12th November 2006. Why not today (or the date of calculation or any date you specify)?.

Example: Entering a £20 charge paid on 8th October 2003 into the calculator gives £4.96 interest. But if you calculate 3 years plus 80 days (to today) at 8% simple interest the answer is £5.16.

Can anyone help?