Monthly reward/interest on Halifax Reward and TSB Classic Plus.

gingercordial

Westie983 wrote: »

HAHA,

every month we get the same questions, and the same answers are given.

LBG group pays the rewards/interest payments on the 2nd working day of the month backdated to the 1st.

Due to the BH weekend today is the first working day of May so you wont get anything today, but will see it all 'MAGICALLY' happen after midnight tonight....

I may as well just copy and paste ready for 1st June lol....

I actually came onto this forum just to see if there'd been the usual question yet, given it's the 3rd and OMG no interest... :rotfl:

YorkshireBoy

Deleted_User wrote: »

Thanks. I now know it's paid on the second working day of the month, backdated to the first working day.

Again, no. Its backdated to the 1st of the month.

Kim_13

Last month, we did get a surprise as TSB and Halifax payments due on Monday 4th (second business day) appeared on the Saturday. This was above and beyond what the T&C's obliged the banks to do and it doesn't mean we are going to get an early payment every month.

Westie983

Kim_13 wrote: »

Last month, we did get a surprise as TSB and Halifax payments due on Monday 4th (second business day) appeared on the Saturday. This was above and beyond what the T&C's obliged the banks to do and it doesn't mean we are going to get an early payment every month.

I will await next months questions :-)

jimjames

SuperAllyB wrote: »

I think we need a new sub-forum for these monthly threads.

I did wonder when it would pop up as the first working day is later this month and true to form it has! Funny how it happens every month!

EarthBoy

Westie983 wrote: »

every month we get the same questions, and the same answers are given......
I may as well just copy and paste ready for 1st June lol....

And for July, August, September..... In fact can't you make it a sticky so it's there permanently?

[Deleted User]

It's quite a wait this month. It will be the 4th before we see anything. I'm excited, to see it, because it will be the first time that TSB Classic interest will be paid gross. Just realised how boring my life must seem.

gunsandbanjos

gingercordial wrote: »

I actually came onto this forum just to see if there'd been the usual question yet, given it's the 3rd and OMG no interest... :rotfl:

Me too, I wasn't disappointed!!

eskbanker

Deleted_User wrote: »

It's quite a wait this month. It will be the 4th before we see anything.

On average this will happen every seventh month (when the 1st is a Saturday), although with first January weekday and first May Monday always being bank holidays it'll be slightly more frequent than that. And then every seventh month the 1st will be a Sunday, delaying payment (visibility) until the 3rd, so interest will only be visible on the 2nd less than five months out of seven....

Westie983

eskbanker wrote: »

On average this will happen every seventh month (when the 1st is a Saturday), although with first January weekday and first May Monday always being bank holidays it'll be slightly more frequent than that. And then every seventh month the 1st will be a Sunday, delaying payment (visibility) until the 3rd, so interest will only be visible on the 2nd less than five months out of seven....

I bet we will get people asking the same question on the Wednesday 1st June, asking where their reward payment is!!!

Dont think it has anything to do with weekends or BH, its just that people dont read the T&C's expecting it to show on the 1st of the month, and get told, it will be credited on the 2nd working day of the month.

Also what causes more confusion is if the 1st working day is a Friday, then having to wait till the Monday for the payment to show, and thus being the 3rd day of the month...