interest on £5000 in Vantage account

NowRetired

Hypothetically


I have exactly £5000 in my vantage account on the day that a DD for £3000 is due.


Disregarding the interest I would get for having more than £5000 in that account, would I get the same amount of interest if I transfer £3000 into the account the day before the DD comes out or transfer £3000 into the account on the same day that the £3000 DD comes out but after the £3000 has gone?


Repeat but not disregarding the interest by having more than £5000 in the account


Too much time on my hands.

YorkshireBoy

Yes, providing in your second scenario you deposit before that day's cut-off (which may be a couple of hours before midnight).

jennifernil

Any difference would be so small as not to be worth worrying about IMO!

Plus, there is no interest on anything over £5k anyway. (unless you secured the £6k account?)

DragonQ

Depends what time of day they use when calculating interest. I'd have thought for clarity they'd use 23:59, so that the final balance shown on a certain date is the balance used to calculate interest, but you never know!