Bank - Charging period dates

caveman38

Does anyone have a list of the dates (charging period) within which the minimum payment must be paid and at the end the interest and charges are paid.
To my knowledge they all have a fixed date except Santander who operate on the monthly anniversary date of the account opening.

agrinnall

[STRIKE]I believe there is a thread on the Credit Cards board (which is where this question belongs) that provides some answers, but the period can and does change so unless you check with every provider yourself you can never be sure the information is up to date.[/STRIKE]

YorkshireBoy

agrinnall wrote: »

I believe there is a thread on the Credit Cards board (which is where this question belongs)

The question is in the right place.

OP is asking for a list of when current accounts require their funding (for high interest purposes), ie calendar (most of them) or monthiversary of opening (Tesco, Santander).

And when their interest earning period runs from, eg 2nd working day to first working day (eg Club Lloyds, BoS, et al) or Calendar (eg Nationwide, YB, CB).

And then when do they deduct account fees/charges/etc.

I can't imagine anyone will have compiled a list of everything. Why would they?...most people with high balances won't be incurring O/D fees and charges!

OP, maybe you could do some research and visit all the banks' websites and compile the list for us?

caveman38

I appreciate you answering my post, but. It is not pertinent to credit card as mine are all current accounts.
Regarding all the dates being different. That is something I also realise, hence me asking if anyone had any knowledge of the dates per bank.
I shall just have to ring each of the banks and find the information myself.

colsten

caveman38 wrote: »

I shall just have to ring each of the banks and find the information myself.

To make life easier for yourself, you could just have another look at the terms and conditions that you agreed to when you applied for the various accounts. That's what I do. I don't rely on opinions of strangers on an internet forum when it comes to my money, and I wouldn't recommend anyone else does, either.

caveman38

I wasn't looking for opinions but being lazy was asking if anyone had a FACTUAL list of the dates each of the banks used for billing and interest payments. I'm sure someone has them written down seeing that a number of posters have up to 30 accounts.
But I am suitably chastised for my laziness and have found the info myself.
If it is of any benefit to anyone:
Club Lloyds and TSB. If the required payment into the account and necessary DD's are set up in the calendar month. Interest is worked out from the 2nd. working day of the month and paid to you at the end of the 1st. working day of the following month.
Nationwide. Provided £1000 is paid into the account in that month. Interest is calculated from the 1st. day of the month and paid into your account on the last day.

colsten

I got 30 odd current accounts and I don't have a list. I just set up the accounts and respective DDs/SOs at the time I set up the accounts, as that was when I looked at the T&Cs in detail. As and if the T&Cs change, the bank will notify me in advance and I will take appropriate action. I would not ever rely on posts on the internet, not even on those from the one or two posters on here who usually are spot on and who I generally trust. But it's not a question of me trusting them - anybody can make a mistake. There is no comeback if you followed an incorrect opinion of a stranger. If you followed the T&Cs, you have a comeback if the bank break them.

caveman38 wrote: »

I wasn't looking for opinions but being lazy was asking if anyone had a FACTUAL list

the only facts are the T&Cs as published by the banks

caveman38 wrote: »

Club Lloyds and TSB. If the required payment into the account and necessary DD's are set up in the calendar month. Interest is worked out from the 2nd. working day of the month and paid to you at the end of the 1st. working day of the following month.

As if proof was needed for what I said above....... You say Lloyds and TSB have the same rules. I say they don't, as TSB doesn't even need any DDs. Who should people believe? I suggest they should check the T&Cs for themselves.

caveman38

Give me a break Colsten. I said " If the required payment into the account and necessary DD's". I am well aware that TSB do not require DD's so they are NOT necessary. If they both required DD's, I would have said "If the required payment into the account and DD's". - but I didn't.

Flobberchops

AFAIK charging dates are linked to statement date and frequency and so would be different for each customer. Or did you mean cut-off dates for reward-paying accounts? If the latter: not sure.

Kernel_Sanders

agrinnall wrote: »

I believe there is a thread on the Credit Cards board (which is where this question belongs)

What possessed you to post that?

YorkshireBoy wrote: »

OP is asking for a list of when current accounts require their funding (for high interest purposes), ie calendar (most of them) or monthiversary of opening (Tesco, Santander).

Tesco doesn't require funding.

caveman38 wrote: »

Give me a break Colsten. I said " If the required payment into the account and necessary DD's". I am well aware that TSB do not require DD's so they are NOT necessary. If they both required DD's, I would have said "If the required payment into the account and DD's". - but I didn't.

But you did say

caveman38 wrote: »

Club Lloyds and TSB. If the required payment into the account and necessary DD's are set up in the calendar month.

For Lloyds, they actually have to pay out in the month, not merely be set up as per Santander, for instance. However I believe there's a concession for the first full month and certainly for the preceding part-month.

GingerFurball_2

Both accounts need to be funded during the calendar month.

Both work out interest and charges from the 2nd working day of the month to the 1st working day of the following month.