Santander 123 interest

DLC2013

Hi all

Just a quick question regarding interest payments relating to this account. I know interest is calculated daily but is the interest paid at the end of the calendar month? Or within a month from the date of opening the account? Or at the end of the year even? I can't seem to find any definite answer from Santander.

Anyone with knowledge could you please inform

Regards

Old_Slaphead

Monthly on account opening date

DLC2013

Thanks Old Slaphead

eskbanker

DLC2013 wrote: »

I can't seem to find any definite answer from Santander.

It's in their interest rates document:

We work out interest on your daily balance on the first £20,000 only and pay interest every month. We pay interest into the current account on the same day each month, depending on the date you open your account or transfer. Interest rates will apply to the first £20,000 of your entire balance once your balance is £1,000 or over. Please see your current account statement or visit Online Banking to find out which date we will pay you interest

DLC2013

eskbanker wrote: »

It's in their interest rates document:

Sadly there is no indication on my online account of when anything is due to be paid.

But thanks anyway

Archi_Bald

Don't worry, it will appear on or about the monthiversary of your account.

innovate

DLC2013 wrote: »

Sadly there is no indication on my online account of when anything is due to be paid.y

I have loads of interest-paying current accounts, as well as savings accounts. I can't think of any that shows you when interest is due to be paid.

mgdavid

DLC2013 wrote: »

Sadly there is no indication on my online account of when anything is due to be paid.

But thanks anyway

why would there be when it is explained elsewhere?

Grandad99

I'm considering swapping from NatWest to 123 and was wondering how/when interest is paid.

This thread seems to be about the balance in the account - when is the 1, 2 and 3% on bills paid?

[Deleted User]

Hi,

same date as interest.

Nath4n

Hi guys, sorry to slightly hijack post but I'm planning on opening a 123 account. I'm quite anal in that to keep my life a little bit simpler I'd like to keep it in sync with the majority of my salary/bills/interest/charges etc almost all which happen on the first couple of days of the months. If I open a 123 account online on Tuesday 1st April, will this count as the monthly account opening date, or will it take a few days to process the application etc before the account is opened, meaning the monthly interest/cashback day will end up being several days later than the 1st? Thanks! :cool: