NatWest interest incorrect

youngretired

I'm sorry are you saying that you paid the £50 into the account on the 3rd April, so you would get the 1.5% interest for the month of April which was paid on the 1st May?

If so then as you have stated that you took money out in March therefore not increasing your balance by £50 then no bonus interest was paid in April for the month of March, so you wouldn't get interest on the £4000 for the 10 days in March.

I would imagine like other banks that the interest in April was delayed due to the bank holiday therefore being paid on the 3rd and that is why only 28 days.

RG2015

There are some very interesting posts here but following some of these * I re-examined my figures and found that the mistake was mine. I was expecting 30 days of interest but only got 28 because 2 of these were paid last month because of the Easter bank holiday.

By coincidence, 28 / 30 x 1.50 = 1.40 which lead me to believe that NatWest had used the old bonus percentage of 1.40% instead of the new total figure of 1.50%

* youngretired got it spot on in their last post.