Weekend Faster Payments

Legacy_user

Probably a stupid question....but if you transfer money from a current account to a TSB Classic Plus at around 9.30pm or 10pm on a weekend on the last day of the month, are you still eligible for the interest? As it postdates the transaction to the next working day, though technically the payment was made before that.

Thanks for any advice! :-)

ceredigion

No, if it has been credited as the 1st that is the date

System

Even if in the transaction details, it says today's date?

ceredigion

Don't really know as ive never been in that situation as I have more sense. However , I have played around with bank cut off times in the past , after close of trading on any given day , transactions count as tomorrow, even if it is not tomorrow yet .

YorkshireBoy

It's been posted previously (by poster Ed-1?) that sometimes these things slip through and the interest is paid because the credit was still made during the monthly billing period. The Plus T&Cs simply state "month".

I can't remember if it was just LBG accounts, or whether it also applied to TSB who continued to use the systems they took from LBG when they split.

OP, please come back and update the thread on Tuesday when you find out.

colsten

nath27 wrote: »

Probably a stupid question....but if you transfer money from a current account to a TSB Classic Plus at around 9.30pm or 10pm on a weekend on the last day of the month, are you still eligible for the interest? As it postdates the transaction to the next working day, though technically the payment was made before that.

Any particular reason why you'd leave it so late? If you receive interest, you have money in the account, and you can therefore move it out and back in again long before the last day of the month.

SuperAllyB

Previously discussed here -

https://forums.moneysavingexpert.com/discussion/5251666

Unless they've changed the rules then it won't count. If you phone up and plead ignorance you may get the interest as a goodwill gesture like i did.