Where is TSB interest?

schiff

TheShape wrote: »

Does anyone know what day the contactless cash back is paid?

Around the 20th.

It's been 18/19/20 for me.

Katiehound

TheShape wrote: »

Does anyone know what day the contactless cash back is paid?

between 18th & 20th of month.
Aug18th, July & Oct: 19th, Sept 20th. Guess there's some logic there!!!

bluehydrangeas

Did anyone else get a lower than expected interest payment this month? I got £7.77 interest for October (paid yesterday). My September interest was £8.57 (paid on October 3rd). Balance has been above £2000 every day since I opened the account so I'm not sure why the latest interest payment was 80p less than the previous month's.

Update: just scrolled up, seems other posters have had the issue too.

YorkshireBoy

bluehydrangeas wrote: »

Did anyone else get a lower than expected interest payment this month? I got £7.77 interest for October (paid yesterday). My September interest was £8.57 (paid on October 3rd). Balance has been above £2000 every day since I opened the account so I'm not sure why the latest interest payment was 80p less than the previous month's.

Update: just scrolled up, seems other posters have had the issue too.

There is no "issue"!

The monthly billing period runs from the 2nd working day of one month to the 1st working day of the next month. September's interest was accrued from Friday 2nd September to Monday 3rd October, and paid in the early hours of Tuesday 4th October.

So this monthly billing period was 32 days...

£2,000 x 4.89% / 365 x 32 = £8.57

So moving on to October, the 2nd working day was the 4th. And the 1st working day of the next month was yesterday, 1st November.

So this monthly billing period was 29 days...

£2,000 x 4.89% / 365 x 29 = £7.77


Homework

Your homework question is in two parts:

Part 1 - What date will your November billing period's interest of £8.04 be paid in December?

Part 2 - How much interest will you receive on the 2nd December? (assume a £2K balance throughout)

[Deleted User]

YorkshireBoy wrote: »

There is no "issue"!

The monthly billing period runs from the 2nd working day of one month to the 1st working day of the next month. September's interest was accrued from Friday 2nd September to Monday 3rd October, and paid in the early hours of Tuesday 4th October.

So this monthly billing period was 32 days...

£2,000 x 4.89% / 365 x 32 = £8.57

So moving on to October, the 2nd working day was the 4th. And the 1st working day of the next month was yesterday, 1st November.

So this monthly billing period was 29 days...

£2,000 x 4.89% / 365 x 29 = £7.77


Homework

Your homework question is in two parts:

Part 1 - What date will your November billing period's interest of £8.04 be paid in December?

Part 2 - How much interest will you receive on the 2nd December? (assume a £2K balance throughout)

Have you given the answer to Part 2 in Part 1? My head's spinning.....

YorkshireBoy

Deleted_User wrote: »

Have you given the answer to Part 2 in Part 1? My head's spinning.....

There's no flies on you is there.


Now you're on a roll, what's the answer to part 1?

[Deleted User]

YorkshireBoy wrote: »

There's no flies on you is there.


Now you're on a roll, what's the answer to part 1?

Friday 2 December at around 0010 hours GMT (give or take a few minutes)?

YorkshireBoy

Deleted_User wrote: »

Friday 2 December at around 0010 hours GMT (give or take a few minutes)?

Did you cheat like you did with part 2?

[Deleted User]

YorkshireBoy wrote: »

Did you cheat like you did with part 2?

Just got it!

knack92

As most people realised I was indeed taking the **** and interest has been received as expected.