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If that is the case though, the statement should make it clear as to which date the money was credited.Ch1ll1Phlakes said:
Only thing I can think of here is that even if the payments were made before 1pm this does not mean that RCI received the payment before 1pm. If they didn't receive the payment until after 1pm it wouldn't show on your account until the next business day and only accrue interest.StayinAlive said:RCI BankJust had my monthly statement in and didn't agree with the amount of interest.My calculations were based on receiving interest from (i.e. "on") the date of deposit.However, when I modified the calcs to make it the day after deposit, the interest agreed.Rang RCI and they had to check and rang back confirming that interest is payed from the day after deposit.However, in their T&C's it states"We’ll apply interest from the day we receive your money, but if we receive your
payment after 1pm it won’t show on your account until the next business day" (my bold).My payments were before 1 p.m.Has anyone else as pedantic as me noticed this?
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Ch1ll1Phlakes said:
Only thing I can think of here is that even if the payments were made before 1pm this does not mean that RCI received the payment before 1pm. If they didn't receive the payment until after 1pm it wouldn't show on your account until the next business day and only accrue interest.StayinAlive said:RCI BankJust had my monthly statement in and didn't agree with the amount of interest.My calculations were based on receiving interest from (i.e. "on") the date of deposit.However, when I modified the calcs to make it the day after deposit, the interest agreed.Rang RCI and they had to check and rang back confirming that interest is payed from the day after deposit.However, in their T&C's it states"We’ll apply interest from the day we receive your money, but if we receive your
payment after 1pm it won’t show on your account until the next business day" (my bold).My payments were before 1 p.m.Has anyone else as pedantic as me noticed this?Couple of points here.I have text messages from RCI stating "thanks for your deposit" timed at 10.11, 12.11 and 12.10 respectively.Secondly, even if payments are made after 1 p.m. the T&C's state that it will not show on your account until the next day. The first part of the sentence still applies i.e. "We'll apply interest from the day we receive......".Or, at least, that's the way I read it.1 -
Oak North launched new 95 days Notice Base Rate Tracker. 4.54%. Spread* vs Base Rate 0.54%.2
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RCI Down again:
Current rate
New rate
4.12%
4.00% AER Gross Variable Annual / 3.93% Gross Variable Monthly
16 Panel (250W JASolar) 4kWp, facing 170 degrees, 40 degree slope, Solis Inverter. Installed 29/9/2015 - £4700 (Norfolk Solar Together Scheme); 9.6kWh US2000C Pylontech batteries + Solis Inverter installed 12/4/2022 Year target (PVGIS-CMSAF) = 3880kWh - Installer estimate 3452 kWh:Average over 6 years = 4400 :j1 -
Oaknorth keep issuing higher rates and there is no way to simply close your account of the previous issues, you have use customer service.0
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If you bring your balance down to zero OakNorth will eventually close it due to inactivity. At least this is what happened to a number of my notice accounts with OakNorth.Zaul22 said:Oaknorth keep issuing higher rates and there is no way to simply close your account of the previous issues, you have use customer service.0 -
If one is considering this, don't let the Marcus's 4.55% 1 year fix slip under the radar. May appear less attractive at first look, but unusually for a non isa there is access with 90 day interest penalty.said:Oak North launched new 95 days Notice Base Rate Tracker. 4.54%. Spread* vs Base Rate 0.54%.
And it won't follow rates down.. (or, er, up..)
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