Lloyds: interest on account closure

JulyKnot

Is interest paid for the day an account is closed or only up to the day before?

typistretired

You don't say which type of account with Lloyds you are referring. Usually interest is calculated daily and when you close your account you will be paid up to that day.

EarthBoy

I think you only get interest for days in which your money is in the account at midnight, in which case it will only be counted up to the day before.

JulyKnot

EarthBoy wrote: »

I think you only get interest for days in which your money is in the account at midnight, in which case it will only be counted up to the day before.

That seems reasonable but some places include the day of closure. Couldn't see anything on Lloyds website.
Does anyone know for sure how Lloyds operate?

JuicyJesus

I would imagine you'd get paid up right until the account closes. In most banks the account only actually closes at the end of the day and the remaining interest is passed as a final transaction.

opinions4u

I seem to recall that they don't pay interest on the day of closure but do on the day of opening. Most other firms do it the other way round.

They also have an odd condition about not paying interest on weekend deposits until the next working day.