Santander - Interest out by 5p

sief

Eco_Miser wrote: »

Or someone working at Santander. In the classic case, which happened decades ago in the USA, a programmer diverted all the fractions of a cent from rounding interest payments, into an account controlled by him. All the check figures still added up right.

I think 5p is too big to go un-noticed.

Erm, this is the plot of 'Office space', a comedy from 1999

GeorgeHowell

CKhalvashi wrote: »

The only ‘criminals’ that it would possibly be are Santander.

CK

Why so ?

Eco_Miser

sief wrote: »

Erm, this is the plot of 'Office space', a comedy from 1999

It may be, they may have been inspired by the same case that I read about in the 1970's.

mgarl10024

Hi all,

I'm resurrecting an old thread I know (my own), but I think I've worked this thing out - so thought it only fair to report back.

Every month, I had the same amount in there, so the same amount of interest (per day) was being paid - all looked fine. Until, I recently took some money out, and it stopped all adding up.

My mistake I think was that I linked the interest date and the period date (I think someone touched on this previously).

So, the account was opened on a 21st, so the period is the 21st->20th of each month (even though the interest wasn't paid until the 23rd).

So, what I end up with is:

21st/22nd - £1012.5 balance
23rd - £1014.68 balance
24th-20th 2500 balance

Gives a total of £9.76 gross, £1.95 tax, £7.81 net.
(Which is exactly what Santander paid).

Thanks for all your help, and I hope this helps someone else... :-)

fiesta04

Glad you worked it out.....you will be able to sleep at nights now!!!

F4