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Interest on current account balance before card payment clears
tg99
Posts: 1,310 Forumite
Say you have £10k in your current account and make a debit card payment for £1k such that your available balance immediately drops to £9k but you overall balance remains at £10k for the next 2 days until the card payment clears. For these 2 days do you earn interest on the full £10k or only on the available balance of £9k? (I think it is the former but wanted to clarify.)
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Comments
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It should be on the full £10K. Santander were pulled up on this, they had to calculate and pay out the missing interest.0
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