Nationwide 5 percent interest.

MABLE

I have just checked and noticed the account that enjoyed the five percent did not receive a direct payment of £1000 in for August. However I have in the last 20 mins funded it with an external credit.

It is now showing as credit received 31st August but the first column is showing 1 September. Does anyone know would I have lost the interest for this month even though it was paid in before midnight.

I tried asking NW just now but they suggested I call back tomorrow.

Thanks

YorkshireBoy

MABLE wrote: »

I tried asking NW just now but they suggested I call back tomorrow.

It's a pity they didn't say "just check in the next couple of hours"!

But to answer your question, I believe the Nationwide cut-off time is 8.30pm. I know it certainly used to be when people were actively 'doubling up'!

YorkshireBoy

As at 23:12...interest now paid. Is it there for you?

MABLE

YorkshireBoy wrote: »

As at 23:12...interest now paid. Is it there for you?

Thanks for that info. I just checked and not there. Will ring NW tomorrow and bearing mind was shown credited on the 31 August they may be able to apply interest manually. Fingers crossed.

BTW The interest on the other account gathering the one percent interest was credited just after 10pm.

kingrulzuk

So did you get your interest?

MABLE

kingrulzuk wrote: »

So did you get your interest?

I am still in discussions with them and on the face of it I was given incorrect information. However when the matter has been resolved an update will be forthcoming.

enthusiasticsaver

It may well be you missed the cut off point. I actually thought it was 5pm on last business day of month.

xylophone

Had you considered making the payment by mid-month standing order from an external account?

MABLE

xylophone wrote: »

Had you considered making the payment by mid-month standing order from an external account?

Very good suggestion but at the beginning of the month I do a round robin and stupid me instead of fresh money into the account from an external source I did a transfer from one NW account to another. I was fully aware this should not be done but obviously slipped up. However I think I have a good case because the advisor stated I had up until mid night and she also checked with a manager who confirmed that. Also advised the interest should be in the account in a few hours.

This turns out to be in correct information. I have put in a complaint and no doubt they will listen to the call to confirm everything.

I know I was originally at fault but the staff seemed to think it would be ok.

MABLE

UPDATE

02 Sep 2016 Correction of interest added Correction of interest added £10.38 £2510.38

Never have I worked so hard to get this interest. But as they say when the going gets tough the tough keep going or something like that.

MABLE

MABLE wrote: »

I have just checked and noticed the account that enjoyed the five percent did not receive a direct payment of £1000 in for August. However I have in the last 20 mins funded it with an external credit.

It is now showing as credit received 31st August but the first column is showing 1 September. Does anyone know would I have lost the interest for this month even though it was paid in before midnight.

I tried asking NW just now but they suggested I call back tomorrow.

Thanks

UPDATE.

Nationwide upheld my complaint regarding incorrect information given and did not only credit the account with the interest for that month but also £75.00 compensation payment.