Santander 1/2/3 interest month

SeeMe

If i withdraw my money from the account before the full month for interest is calculated, do i still receive the interest up to the day i withdraw.

ColdIron

Yes you do, interest is calculated daily

SeeMe

ColdIron wrote: »

Yes you do, interest is calculated daily

Ok thank you.

SeeMe

ColdIron wrote: »

Yes you do, interest is calculated daily

Have closed my account now and i have had no interest for any of the days in which i had £20,000, it was only 2 days short of the full statement month before i moved any money out.They took the £5 fee though on the statement date.

I will have to get on the phone to see what gives, because i received a cheque with the closed account tiny balance which was already left in the account.

eskbanker

What happened to the direct debits that had been in place in order to earn interest? If they'd already been cancelled or moved by the date on which interest would normally have been paid then you wouldn't be eligible for the interest, as I understand it....

SeeMe

eskbanker wrote: »

What happened to the direct debits that had been in place in order to earn interest? If they'd already been cancelled or moved by the date on which interest would normally have been paid then you wouldn't be eligible for the interest, as I understand it....

Thanks for the reply.

The 2 DD were both paid out that month, i made sure of that and i have downloaded my payments for the last 3 months so i have a record of it. I should have almost a full month of 20k interest. The £5 fee and interest always shown up on the same date in my statement.

So the 2 DD paid out around 12th and 14th but as they were tesco they would have been cancelled by tesco on 24th which is before the interest date.
So it looks like thats the downfall if what you say is correct.

ColdIron

And the £500 funding requirement?

SeeMe

ColdIron wrote: »

And the £500 funding requirement?

£500 went in to the account as normal

RG2015

You need to have two active direct debits to receive interest and cashback. The direct debit does not need to be paid in the statement month, only active. Therefore a direct debit that is paid annually will satisfy this criteria as long as it is active on the statement date.

Sadly for you, as you say, this does appear to have been your downfall

SeeMe

RG2015 wrote: »

You need to have two active direct debits to receive interest and cashback. The direct debit does not need to be paid in the statement month, only active. Therefore a direct debit that is paid annually will satisfy this criteria as long as it is active on the statement date.

Sadly for you, as you say, this does appear to have been your downfall

Yep seems to be the case.