Advice - shuffling money round accounts

Steve_xx

YorkshireBoy wrote: »

I'm out of the 5% intro period on Nationwide, but seem to remember they paid on a calendar month basis?

I think it's the first of the month.

YorkshireBoy

Steve_xx wrote: »

I think it's the first of the month.

31 Dec 2013 Tax taken £2.07 £2508.31
31 Dec 2013 Interest added £10.38 £2510.38


Nationwide normally close off their 'working day' quite early, around 8:15pm I believe*, so that's why I said the 30th November. YB also operate calendar months, although they close off later in the evening.




* There are people on the stoozing website who exploit this for 'interest double up'!

Steve_xx

YorkshireBoy wrote: »

31 Dec 2013 Tax taken £2.07 £2508.31
31 Dec 2013 Interest added £10.38 £2510.38


Nationwide normally close off their 'working day' quite early, around 8:15pm I believe*, so that's why I said the 30th November. YB also operate calendar months, although they close off later in the evening.




* There are people on the stoozing website who exploit this for 'interest double up'!

I picked this up from their FAQs on the FlexiDirect account:


On the last day of each month we calculate the interest you've earned each day of that month and then pay you this interest on the 1st day of the next month. We normally pay you this interest 'net' of any tax, which means we deduct any tax due and pass it to the government for you.