Vantage interest condition

Ed-1

There is a requirement on Classic Vantage accounts to keep the account in credit during the monthly billing period (2nd of the month until the 1st of the next month). If you open account midway through a monthly billing period does the account need to be in credit from the day its opened to receive interest at the end of the month?

typistretired

Vantage at a glance

Vantage pays competitive interest rates on your current account balance. The more money you have in your account the more interest you can earn, on balances up to £5,000.
Vantage variable Interest rates are tiered on balances up to £5,000. To get interest paid each month, all you need to do is pay at least £1,000 into your account during the calendar month, and keep your account in credit during the monthly billing period.

I opened mine on the 18th of the month and still got paid interest as I paid in at least £1000 before the calender month ended

Gromitt

Ed-1 wrote: »

If you open account midway through a monthly billing period does the account need to be in credit from the day its opened to receive interest at the end of the month?

Yes, it's part of the T&Cs. They apply regardless of when you opened the account.

Note that a nil balance (£0.00) is still 'in credit'.

Ed-1

Gromitt wrote: »

Yes, it's part of the T&Cs. They apply regardless of when you opened the account.

Note that a nil balance (£0.00) is still 'in credit'.

Is it? The T&Cs say this:

keep your account in credit (that is above £0) during the monthly billing period.

pqrdef

I opened a BoS Vantage in February, left it empty until April 8th and got interest on May 1st.