Help with Coventry Poppy ISA interest payments?

wattc

I'm think of opening the Coventry Poppy account, seems to have a good rate.

Regarding interest, it says "Interest is paid annually on the anniversary of account opening".

I'm basically going to be storing some money in this account but will probably have withdrawn it all by April next year.

Two questions:
1. If they pay interest annually, will they only pay the interest on what is left in the account this time next year?? Which for me might be £0!
2. If this is true, can anyone recommend an easy access ISA that pays interest monthly or at least quarterly?

cheers

david78

You get interest on what you have in the account each day, this is added up and paid into the account on its anniversary. You won't get £0 don't worry.

If you close or transfer the account, you get the interest when you close or transfer it.

wattc

david78 wrote: »

You get interest on what you have in the account each day, this is added up and paid into the account on its anniversary.

So it pays on a daily basis? Is that standard with all ISA's these days?

david78

Its "accrued" (added up) daily and paid annually.

Accruing daily is standard on all accounts.