Nationwide: Change of payment date for Current Account Interest

Kim_13

Just posting this for information as I'm sure that there will be others wondering where their interest is this month (used to be paid in the evening of the last day of the month, regardless of whether or not that was a working day.)

I hadn't received mine (FlexDirect) and definitely met the criteria so I checked the FAQ's and they have been amended so that interest is calculated on the last day of the month and paid on the first day of the next month. They also mention paying without tax deducted, so they must have changed the payment date when they updated the system to no longer deduct tax.

I checked FlexPlus and FlexOne also and it is the same for those customers.

See here: http://www.nationwide.co.uk/support/support-articles/faqs/current-account-faqs/flex-direct-faqs#xtab:when-will-i-receive-my-interest, here: http://www.nationwide.co.uk/support/support-articles/faqs/current-account-faqs/flexplus-faqs#xtab:do-i-receive-interest-on-my-flexplus-account and here: http://www.nationwide.co.uk/support/support-articles/faqs/current-account-faqs/flexone-faqs#xtab:when-do-i-get-paid-interest

Edit: Interest has now appeared but dated 30th April. Looks like they forgot to mention backdating to the day before.

MABLE

I received my interest payment and was credited 30th. I got £10.05 on the full £2500.

Archi_Bald

MABLE wrote: »

I received my interest payment and was credited 30th. I got £10.05 on the full £2500.

Same for me. I don't think there has been any change in date.

B_G_B

My Flexdirect paid interest early hours today (1st). Date for interest is shown as 30th, but in the description field it says credited on 1st May. Something has changed because mine has never been paid at midnight Sat/Sun or Midnight Sun/Mon before.

Kim_13

B_G_B wrote: »

My Flexdirect paid interest early hours today (1st). Date for interest is shown as 30th, but in the description field it says credited on 1st May. Something has changed because mine has never been paid at midnight Sat/Sun or Midnight Sun/Mon before.

I will check the description field on mine when I log into their site. I checked mine using the app this morning.

Something has changed for me also as I have previously received FlexDirect Interest at 9-10pm, not midnight ish.