Derbyshire BS 3.25% AER easy access account

buffman

Stompa wrote: »

It's presented in a rather odd way on the statement, which has two entries 'INTEREST PAYMENT' and 'TAX PAID'. It appears that 'INTEREST PAYMENT' is not the GROSS amount as you would probably have expected, but NET interest.

I noticed that too. Have transfered the balance to my Derbyshire NetSaver 3 (paying 3.06% until June). Decided not to close the NetSaver 1 as it has automatically become NetSaver 9 (with a rate of 2.36% until Feb 2014). I hope that I will not need to use it!

Vortigern

Their website seems to be struggling as a bunch of rate tarts head for the exit.

Stompa

buffman wrote: »

I noticed that too. Have transfered the balance to my Derbyshire NetSaver 3 (paying 3.06% until June). Decided not to close the NetSaver 1 as it has automatically become NetSaver 9 (with a rate of 2.36% until Feb 2014). I hope that I will not need to use it!

I intend doing the NS1 to NS3 transfer too. At what point does the NS1 become an NS9? Having not yet done the transfer it's still showing up as NS1.

vulcan59

Stompa wrote: »

I intend doing the NS1 to NS3 transfer too. At what point does the NS1 become an NS9? Having not yet done the transfer it's still showing up as NS1.

The letter I received from them said the account will be updated to issue 9 on 1st December. Not sure how that will work over a weekend but that's what it said.

Stompa

vulcan59 wrote: »

The letter I received from them said the account will be updated to issue 9 on 1st December. Not sure how that will work over a weekend but that's what it said.

Hmmm, the letter I had simply said that they have increased the interest rate they had promised to pay when the bonus expired (from 1.00% to 1.50%). No mention of Issue 9.

vulcan59

Stompa wrote: »

Hmmm, the letter I had simply said that they have increased the interest rate they had promised to pay when the bonus expired (from 1.00% to 1.50%). No mention of Issue 9.

There was some discussion about this in an earlier thread. https://forums.moneysavingexpert.com/discussion/4289799 It seems different customers got different offer letters.

Stompa

vulcan59 wrote: »

There was some discussion about this in an earlier thread. https://forums.moneysavingexpert.com/discussion/4289799 It seems different customers got different offer letters.

Ah thanks, I'd missed that. Oh well, it's no great loss (I hope!).

BeachNut

Interest was credited to my account on 30th. I promptly transferred the balance out selecting 'close account'. However, the amount that got credited to my linked account was lower than the balance shown prior to closure. They they made an 'Interest Adjustment' and reduced the balance on closure ! Small amount, but I've asked them to explain why I got penalised on an account that had 'matured'. Anyone else noticed this ?

skitskut

BeachNut wrote: »

Interest was credited to my account on 30th. I promptly transferred the balance out selecting 'close account'. However, the amount that got credited to my linked account was lower than the balance shown prior to closure. They they made an 'Interest Adjustment' and reduced the balance on closure ! Small amount, but I've asked them to explain why I got penalised on an account that had 'matured'. Anyone else noticed this ?

They're probably taking back a day's interest. I guess the original interest included the 30th in its calculation but since you've now withdrawn on the 30th it needs to be re-calculated up to the 29th instead.

molly_mandy_2

BeachNut wrote: »

Interest was credited to my account on 30th. I promptly transferred the balance out selecting 'close account'. However, the amount that got credited to my linked account was lower than the balance shown prior to closure. They they made an 'Interest Adjustment' and reduced the balance on closure ! Small amount, but I've asked them to explain why I got penalised on an account that had 'matured'. Anyone else noticed this ?

I did the same as you and the same thing happened. Approx £1 less arrived in my linked account. I wondered if it was some sort of charity donation which I know Chelsea B.Soc. does. But I think skitskut's reply maybe could be on the right track.