Getting more from interest?

PeacefulWaters

Tom99 wrote: »

Its 3% AER but paid monthly

The gross rate is the key to monthly earning.

PeacefulWaters

ceredigion wrote: »

No. You will get a full months worth of interest as long as there is £1500 in the account when they calculate the interest daily.

If your continuous balance is £50 you'll still earn a full month's interest on that £50.

How you choose to compound that 12p is up to you.

polymaff

Is it deja vu all over again?

Some years ago some poster thought that he could play the (his assumption) variations amongst the various clocks of the various banks so that FPS transfers he made at just the right, near-midnight, second would mean that a given sum would be registered as being in both banks at their interest-computing instants.

Bonkers then, bonkers now.

polymaff

polymaff wrote: »

Is it deja vu all over again?

Some years ago some poster thought that he could play the (his assumption) variations amongst the various clocks of the various banks so that FPS transfers he made at just the right, near-midnight, second would mean that a given sum would be registered as being in both banks at their interest-computing instants.

Bonkers then, bonkers now.

ceredigion wrote: »

Not bonkers in the slightest, just need to do your homework. Makes more sense to play over the weekends though

Care to share your experiences?

RG2015

polymaff wrote: »

Care to share?

A good magician never reveals their secrets.

YorkshireBoy

polymaff wrote: »

Care to share your experiences?

Someone shared their experiences of multiple £1 Tesco DDs a while ago. Remember?

eschaton

vnnnn wrote: »

TSB pay 3% interest per month on accounts up to £1500. Was wondering if I could exploit that by transferring money from my other account before the interest is paid in, put it back after and keep doing it on a monthly basis with no repercussions.

£45 for a few taps on the phone though, worth a pop. Thanks guys.

You're onto a winner. Easy money to be made there eh

polymaff

ceredigion wrote: »

You need to work out the time of tomorrow

Indeed. Please carry on.

msallen

Tom99 wrote: »

You will only get interest for the days the money is in your TSB account. You can't expect to pay it in one day, take it out the next and get a months worth of interest.

Well you can expect it, but you'll be sorely disappointed

polymaff

YorkshireBoy wrote: »

Someone shared their experiences of multiple £1 Tesco DDs a while ago. Remember?

Not sure that that was experiences, though.

By experiences I don't mean tell me the methodology - but how it worked out in reality. That never came out in the original thread. So,

Could it be automated?

Was it reliable?

Was it worth it?