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ICESAVE Question

planemad
planemad Posts: 569 Forumite
Part of the Furniture Combo Breaker
in Savings & investments
When I transfer money to ICESAVE the money goes into the account but shows as uncleared.

How long does it take to clear?

Also whilst its sitting in my account uncleared is it earning interest?

Thanks in advance.

Comments

  • sloughflint
    sloughflint Posts: 2,345 Forumite
    It starts earning interest from the day it reaches the account. I can't remember how long exactly funds take to clear. Around the 7 day mark springs to mind.
  • moneybee
    moneybee Posts: 7 Forumite
    Mine seem to clear in eight working days. Is this the same for others...?
  • McSaver
    McSaver Posts: 609 Forumite
    It takes 4 days to start earning interest and 8 to clear from the day you do the direct debit instructions to pay into Icesave.
    Had £80,000 in Savings - All GONE!!! BYE BYE
    :A Single, 27, Aspie, Gooner :A
  • sloughflint
    sloughflint Posts: 2,345 Forumite
    McSaver wrote: »
    It takes 4 days to start earning interest and 8 to clear from the day you do the direct debit instructions to pay into Icesave.
    It says interest is earnt from day 1 on the website, McSaver.
    I've been sad and checked in a spreadsheet.
    I can confirm it is from day one.

    Edit: My apologies to you McSaver. I must learn to read more carefully. You are referring to the day you do the DD instructions, not the day funds hit the account.
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