First direct regular saver query

Stu6781

Hi all

I’ve had my first direct 5% regular saver for the full year now as my last £300 deposit was put in a couple of weeks ago bringing it to £3600 in total. My question is how long after your last deposit does the interest get paid? Thanks

eskbanker

https://www1.firstdirect.com/savings-and-investments/savings/:

Interest calculated daily and paid on 12 month anniversary of account opening.

Stu6781

The query I have is that it’s been 2 weeks since the 1 year anniversary, and no interest has been paid?

ColdIron

If your 'last £300 deposit was put in a couple of weeks ago' you still have a couple more weeks to go until your 1 year anniversary. Check your paperwork and the date of your first deposit

ChopperST

Stu6781 wrote: »

The query I have is that it’s been 2 weeks since the 1 year anniversary, and no interest has been paid?

Perhaps you have diarised your maturity date incorrectly. FD will send a letter approximately a week before your account is due to mature advising you - have you received that letter?

If you are adamant FD have got the dates wrong you need to call them.

eskbanker

Stu6781 wrote: »

The query I have is that it’s been 2 weeks since the 1 year anniversary, and no interest has been paid?

Your original question implied a link between final deposit and interest, but if they haven't adhered to their published terms then you'll need to contact them to find out why.

EarthBoy

Stu6781 wrote: »

Hi all

I’ve had my first direct 5% regular saver for the full year now as my last £300 deposit was put in a couple of weeks ago bringing it to £3600 in total. My question is how long after your last deposit does the interest get paid? Thanks

Your last deposit, the 12th, was exactly 11 months after the first deposit, so if the last deposit only went in a couple of weeks ago, you haven't had the account for a full year yet. You'll have to wait another couple of weeks or so before your year is up.

1Foz

The anniversary date will be when you opened it. I opened mine on the 28th November 2018 and made the first payment on that day. The last payment is being taken 28th October...so you have to factor in that there's a month gap between 12th payment and the anniversary. Unless you changed the payment date of course - though they don't allow that anyway.cos I rang up myself and asked to change mine to the first working day of the month - for obvious reasons - but they said I'd lose the interest if I changed it, so I left it alone.

Alistair31

The beauty of First Direct is that you can call and have your questions answered within seconds.