Interest Calculation

YorkshireBoy

kingrulzuk wrote: »

BOS manager told me that interest is paid daily and cut of time is at 5pm weekdays...

Which, roughly translated, means "I haven't got a clue so I'll make something up that I hope satisfies the customer"!


In short, it's wrong!

kingrulzuk

YorkshireBoy wrote: »

Which, roughly translated, means "I haven't got a clue so I'll make something up that I hope satisfies the customer"!


In short, it's wrong!

O dear :eek:

Thrugelmir

Pincher wrote: »

On the other hand, dividends DO work that way.

I know it's supposed to drop next day when it goes ex-dividend, and you lose the 0.5% stamp duty. And there's a buying and selling fee.

The random ups and downs could easily drift up when it goes ex-dividend, so there is scope for get the dividend AND sell at a profit.

Having your cake and eat it.

Yet another sweet dream from the napping Pincher.

Buy when a stock is ex-dividend not sell. Prices tend to drift between the ex-dividend date and actual date of payment. Which can be several weeks later. A % here and there adds up over time.

bigadaj

Some banks have different cut off times for close of business or balance on which interest is calculated, so presumably there is an opprotunith to transfer money between some of them. Though even with faster payments there's no guarantee that the money would be credited in time I suppose.

ceredigion

The trick is to figure out what time they flip to, tomorrow or Monday in the case of a weekend.
All easy enough if you work at it.

george4064

Thrugelmir wrote: »

Buy when a stock is ex-dividend not sell. Prices tend to drift between the ex-dividend date and actual date of payment. Which can be several weeks later. A % here and there adds up over time.

This.

When I used to work in stockbroking, there was one client who would always buy BG shares on their ex-div dates. Everytime, he would ring up on the ex-D date and buy more shares.