when is BoS Vantage current account interest paid

j2011

I opened a BoS Vantage current account on 21st March and have transferred over £1000 from my Halifax Reward account into it.

When should I expect any interest to be paid into the Vantage current account?

LittleVoice

If it is like LTSB Vantage (and why wouldn't it?), interest is paid on the first working day of the month but cannot be viewed online until the second.

YorkshireBoy

j2011 wrote: »

I opened a BoS Vantage current account on 21st March and have transferred over £1000 from my Halifax Reward account into it.

When should I expect any interest to be paid into the Vantage current account?

Answered on their website (2 clicks away from their homepage).

Click "Bank Accounts"
Click "Vantage"

For each month that you meet the Vantage conditions, interest is calculated daily on the balance of your account at the relevant Vantage interest rate from the second working day of that month. The interest is paid into your account at the end of the first working day of the next month.

http://www.bankofscotland.co.uk/bankaccounts/vantage/

j2011

So is the first working day of the next month the 1st May as I would have thought it meant the 22nd of April?

YorkshireBoy

j2011 wrote: »

So is the first working day of the next month the 1st May as I would have thought it meant the 22nd of April?

Why would you think that?

Here are your specific Vantage T&Cs...

http://www.bankofscotland.co.uk/bankaccounts/pdf/classic-vantage-conditions.pdf

They talk about calendar months (for funding), billing periods (for interest purposes), and mention that if you've added Vantage to a standard Classic account they'll shift your billing period to the standard Vantage billing period, which is "the second working day of a calendar month to the first working day of the next"

j2011

Why would you think that?

Because when I used to have a RBS interest paying current account I received the interest on the 15th of the month and the month for the account ran from the 15th to the 14th of the next month.

j2011

Got my interest today and it was a lot more than I used to get for the same amount of money going through my RBS account.

Though we are only talking pennies, not pounds, but every little helps.