if i close my savings account do i get interest paid?

my_definition

Sorry if this is a daft question but i have a savings account which i would like to close. I had about £10000 in it but the interest was paid in January so i was wondering if i closed it now would i get some interest paid or would i have to wait until next January? The money has been transferred into better paying account but i've left £1 in it. I did search for this but i couldn't see anything.

Thanks

anamenottaken

Unless it was an account requiring a minimum of, say £1K, you will have earned interest on the amount left in (and on the amount withdrawn from the time the last interest was credited up to the time of withdrawal) on a daily basis. This would be paid at the time of account closure. It may be subject to a deduction depending on notice requirements. Where is the account held and what is its name?

arborlinden

You will get any interest due in January or when you close the account whichever comes first

antispam246

Did you keep the 10k in there from the last interest payment (January) up and till the day you moved it elsewhere and when was this? (today/recently)?
Or did you move the 10K immediately after the last interest payment?

Basically, you'll get interest on the amount you had in there from January unless it was a fixed account as that probably carries an interest loss clause.

If you have another account with the company you had this savings account with then you can probably request or it may be occurring already, that any interest be paid into the other account, or if you had a linked account from another provider then it could go there. Or, they may just send you a cheque.

I recently closed 2 accounts in similar circumstances to yours, I received 2 cheques one for £55 and another for £0.01 ^^