We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Money claim online

annabo
annabo Posts: 9 Forumite
in Reclaim bank & credit card charges
How do you calcualte the daily interest?
Mine is coming out at 49p does that sound right?

Thanks,
Anna.

Comments

  • princesskez26
    princesskez26 Posts: 624 Forumite
    annabo wrote: »
    How do you calcualte the daily interest?
    Mine is coming out at 49p does that sound right?

    Thanks,
    Anna.

    To work out the daily interest. Multiply the amount of your claim (charges only, not including interest) by .00022

    Kez
    Member & fundraiser for Meningitis Research Foundation
  • Stephen_Leak
    Stephen_Leak Posts: 8,762 Forumite
    1,000 Posts Combo Breaker
    Rex_Mundi wrote: »
    To work out the daily interest. Multiply the amount of your claim (charges only, not including interest) by .00022

    If the "amount of your claim (charges only, not including interest)" is approximately £2227, yes. If not, no.

    Please read the Reclaim Bank Charges Help thread.
    The acquisition of wealth is no longer the driving force in my life. :)
  • annabo
    annabo Posts: 9 Forumite
    Sorry to sound thick!!
    It is £226.50
    Thanks,
    Anna.
  • Beate
    Beate Posts: 3,522 Forumite
    Part of the Furniture Combo Breaker
    Then it's £.0.05 (rounded up)
    Reclaimed thanks to this site:
    £175 Abbey Mortgage Repayment Fee, £170.03 Capital One Bank Charges £418.07 Lloyds TSB Bank Charges, £2,671.55 Mis-sold Endowment Policy, all for OH
  • Stephen_Leak
    Stephen_Leak Posts: 8,762 Forumite
    1,000 Posts Combo Breaker
    In that case, we are a bit out - like a factor of 10! Its those pesky "zeros"!

    £226.50 x 0.00022 = £0.04983 or, to put it another way, 5p per day.

    It is amazing how many people (& hamsters!*) get "foxed" by this apparently simple little sum!

    *Private joke. Don't ask.
    The acquisition of wealth is no longer the driving force in my life. :)
  • annabo
    annabo Posts: 9 Forumite
    Thanks every one!! I worked it out and realised the rounding up thing, gosh could do with a few primary school lessons!!
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 353.4K Banking & Borrowing
  • 254.1K Reduce Debt & Boost Income
  • 455K Spending & Discounts
  • 246.5K Work, Benefits & Business
  • 602.8K Mortgages, Homes & Bills
  • 178K Life & Family
  • 260.5K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture