Chase: Missing Interest

1882

I have previously mentioned this in the general thread but it gets lost there and I have an update.

I opened a Chase current account and savings account which I funded with a substantial amount in late March and didn't get any interest paid on 1st April.  After checking with others that the savings account should indeed have had it credited I contacted Chase via the app and they apologised and said they'd look into it. Now a whole week later I'm still awaiting a reply and any interest.

Am I the only one who's had this issue?

Daliah

No problem here, I got a small amount of interest credited on April 1. Apart from yours, I have not seen any reports of missing interest payments.

If Chase are unresponsive, I would lodge a formal complaint about the matter.

sebtomato

1882 said:

Am I the only one who's had this issue?

Sounds like it. I got a small amount of interest credited on the 1st April.

ZeroSum

Did you definitely open the savings account & not another current account

1882

Yup, Chase savings in addition to the current account with very little cash in it.

1882

Daliah said:

No problem here, I got a small amount of interest credited on April 1. Apart from yours, I have not seen any reports of missing interest payments.

If Chase are unresponsive, I would lodge a formal complaint about the matter.

I've contacted them again and asked them to raise an official complaint if they didn't already class my previous communication as one. We'll see what they say!

Thrugelmir

When did you deposit the funds ? 

1882

28th March

RG2015

On my saver account activity page, I click on all activity and it shows my deposits on 28 March, all of which are also time stamped.

Then there is an entry on 1 April for interest with a time stamp of 00:24 showing + £0.17

Thrugelmir

Have you calculated how much interest you should have been paid? 

RG2015

Thrugelmir said:

Have you calculated how much interest you should have been paid? 

A "substantial" amount was deposited on 28th March.

Let's say £1,000 although it was probably more like £10,000

£1,000 x 1.49% x 4/365 = £0.16.

£10,000 would be £1.63

I am obsessed with arithmetic, but in truth the amount is irrelevant, it is the process that matters.