Bank claims no interest payable on old account

eosa

I found an old passbook for a savings account, and made enquiries with the bank (RBS). After 4 months of stonewalling, they told me that the account was closed by the bank in 1988, at which time the balance was just under £100. They have offered to give me the balance amount, but claim that interest is not payable because the balance was under £100.

Should I receive interest from 1988 up to the present? If so, how do I work out how much interest is due?

dunstonh

Many accounts of that era with banks needed a minimum balance to get interest. Remember this is before banks and building societies were allowed to compete with each other.

So, if the terms of the account said no interest on balances under £100 then no interest is payable.