Virgin money RS - maturity

[Deleted User]

Interest cleared, account closed. Ammount being transferred to nominated account is £3,592 (double interest....again).

veryintrigued

Normally shows in my Nationwide account in an hour or so.

Let see....

xylophone

I have never before had this error but this time the amount to be transferred (which was correct on giving the instruction) is now shown as an uncleared transaction for an amount which includes extra interest just a few pence short of that already added!

I'll have to see what arrives in my bank account tomorrow!

glider3560

xylophone wrote: »

I have never before had this error but this time the amount to be transferred (which was correct on giving the instruction) is now shown as an uncleared transaction for an amount which includes extra interest just a few pence short of that already added!

I'll have to see what arrives in my bank account tomorrow!

It's a known issue when you close the account after the "product transfer interest" is added, but before the maturity date (i.e. after around 8:30pm the day before maturity).

I had selected monthly interest (tax reasons) so don't benefit much from this bug.

karlie88

glider3560 wrote: »

It's a known issue when you close the account after the "product transfer interest" is added, but before the maturity date (i.e. after around 8:30pm the day before maturity).

I had selected monthly interest (tax reasons) so don't benefit much from this bug.

A couple of extra quid, for those with monthly interest, is not to be sniffed at.

glider3560

karlie88 wrote: »

A couple of extra quid, for those with monthly interest, is not to be sniffed at.

Think it was about £2.10, plus an extra day's interest in the account I've transferred it to. Not bad for doing something I'd planned to do anyway!

Frogletina

veryintrigued wrote: »

£43.66 interest has appeared and now showing as an Easy Access but showing as uncleared as previously.

Good first step.

I am showing an easy access account with interest of £43.66 but it is showing as cleared.

I think I'll just close the account and transfer it as I usually do.

frogletina

Frogletina

Deleted_User wrote: »

Interest cleared, account closed. Amount being transferred to nominated account is £3,592 (double interest....again).

Mine is showing that now too.

However, I've previously been sent a letter to return the excess interest. Hope I get to keep it this time

frogletina

veryintrigued

veryintrigued wrote: »

£43.66 interest has appeared and now showing as an Easy Access but showing as uncleared as previously.

Good first step.

Amount transferred should be £3,592.46 from the info on my Virgin account.

That's the 43.66 X 2.

Not yet showing in my linked account but looks positive.

TheShape

First time I've remembered to do this. Double interest showing. I'll wait to see what arrives in my account.