TSB did anyone get paid 5% this month?

roydog2

Just noticed in both my Classic Plus accounts accounts I got the same paltry £3.41 I have been getting for the last few months.
Are we not supposed to be getting the 5% paid from the 2nd of May?

YorkshireBoy

roydog2 wrote: »

Just noticed in both my Classic Plus accounts accounts I got the same paltry £3.41 I have been getting for the last few months.
Are we not supposed to be getting the 5% paid from the 2nd of May?

May's interest won't be credited until June!

ceredigion

I feel for TSB at the moment

Dobbibill

ceredigion wrote: »

I feel for TSB at the moment

me too - and no doubt it will be the poor CS staff that get a load of verbal from some customers.

roydog2

well you learn something new every day.
I had no idea that the interest was paid from the preceding month's balance.


TSB never pay me on the same day, or the same amount, some times they call it a credit, sometimes they call it interest, sometimes they call it classic plus interest. The payment varies between £4.00 and £3.20, paid around the middle of each month, even though I keep the balance the same (1500) all the time and shuffle £500 in and out the same day.


Thanks for snottily pointing that out.

Ed-1

roydog2 wrote: »

well you learn something new every day.
I had no idea that the interest was paid from the preceding month's balance.


TSB never pay me on the same day, or the same amount, some times they call it a credit, sometimes they call it interest, sometimes they call it classic plus interest. The payment varies between £4.00 and £3.20, paid around the middle of each month, even though I keep the balance the same (1500) all the time and shuffle £500 in and out the same day.


Thanks for snottily pointing that out.

Interest is calculated daily on the balance as at midnight (in the case of TSB) and different months (or billing periods to be precise) have different numbers of days. Interest is paid at the end of the first working day of each calendar month.

YorkshireBoy

roydog2 wrote: »

I had no idea that the interest was paid from the preceding month's balance.

You thought they paid it before you'd earned it?

TSB never pay me on the same day, or the same amount...The payment varies between £4.00 and £3.20,

So exactly how they say it is calculated and paid in the account T&Cs. Just one page...shouldn't take long to read them?

paid around the middle of each month

Nonsense. It's always been paid at the end of the first working day of the month...always.

molerat

If paid around the middle of the month they are not interest payments, that is paid on the day after the first working day of the month.

When will it be paid in June ? - answers on a postcard.