TSB Interest Increased??

CityOwl

nic_c wrote: »

don't know but I'm in the £6.24 brigade woop :T:rotfl:

£6.24 x 3 (a single account each for me & OH, plus a joint account)

Just our luck that interest rates dropped around the time that we could finally afford to save after years of raising children, part-time work and paying the mortgage.

Really pleased to get 5% again, as they say "Every little helps..."

Cactus_Jack

binaryuniverse wrote: »

It'll be some sort of rounding discrepancy buried inside various stored procedures, or in code, in their system. It's not worth thinking about tbh. They have bigger fish to fry, for now.

It's interesting though, they had one job comes to mind, you'd think banks should be spot on to the penny

Ashen

Practically nobody will have earnt precisely £6.23 or £6.24 interest in a month.

For example, one month someone might be owed £6.239 in interest (to three decimal places), and will be paid £6.23 and that £0.009 will be carried over. Another person might be owed £6.248 and therefore paid £6.24.

There's going to be a little bit of variation on the tiny amounts carried forward, given one days interest is around 20-21p.

If banks didn't calculate interest to fractions every day, people wouldn't get any interest at all on £1 in a 2% savings account.

Dobbibill

I've had mine - £6.23 for both accounts. I'm happy with that.

No_6

Are well then,,,, nice trip to Mc.D for burgers to use the new rate.

noh

YorkshireBoy wrote: »

Ours hasn't arrived either. Seems we're in the minority! Maybe they're working in tranches and we'll see ours either later today or Monday?

Nor has mine.

CityOwl

billn wrote: »

No interest at all for me so perhaps they haven't sorted themselves out:(

From the TSB website;
"To earn interest (which is paid monthly) just pay in a minimum of £500 a month and register for Internet Banking, Paperless Statements and Paperless Correspondence. It's important that you log in regularly, at least once every 12 months."

It may be worth checking that you are fulfilling the conditions above, and if you are, giving them a call tomorrow. It may be that they haven't sorted themselves out yet or that you have not logged in for over 12 months or the settings on your statements have changed with all the issues that they have been having...

Good luck

Mchambers

Money_Grabber13579 wrote: »

There’s bound to be compensation for that, right? I mean, that £0.01 is a proveable loss...

Where’s our serial TSB complainer when you need them?

I am here and will be complaining !:D

Katiehound

Yes my two accounts which have both had the full amounts since opening those accounts earned different interest- I know, only a penny- but it does not make any sense.

I also noted that I always 'sweep' the interest into a Mr T account and the details of that had vanished into the ether! Flipping had to set that up with an automated phonecall authorisation. It was there last month

What are they doing?? Talk about fiddling whilst Rome burns........

Ashen

Katiehound wrote: »

Yes my two accounts which have both had the full amounts since opening those accounts earned different interest- I know, only a penny- but it does not make any sense.

If you didn't open them both on the same day, with identical transaction history, it makes perfect sense that there will be a very slight difference, as the portion of your interest that is less than a penny will be carried forward to the next month.