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Barclays Cash ISA - interest can’t be added to the isa but needs to be paid into separate account?
orange-juice
Posts: 309 Forumite
i thought I messed up the application but phoned them to double check and this seems to be the case.
Just wondering whether that’s typical or an anomaly with Barclays, as I think I might easily break the psa next tax year..
Just wondering whether that’s typical or an anomaly with Barclays, as I think I might easily break the psa next tax year..
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Comments
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Somewhere in between typical and an anomaly I think, some do this but many don't.0
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Did you apply for a monthly interest payment rather than annual? They seem to have two 4% one year issues - one is monthly interest, the other annual.#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3660
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Yes, I did go for monthly. Did you not have this trouble by going annual?JGB1955 said:Did you apply for a monthly interest payment rather than annual?0 -
Excuse my poor comprehension skills, do you mean many don’t pay the interest into a separate account?eskbanker said:Somewhere in between typical and an anomaly I think, some do this but many don't.0 -
If you chose monthly the interest will be paid to your external account. If you chose annual the interest will compound and be added to the ISA when it matures (and the balance be slightly higher at the end of 12 months).orange-juice said:
Yes, I did go for monthly. Did you not have this trouble by going annual?JGB1955 said:Did you apply for a monthly interest payment rather than annual?#2 Saving for Christmas 2024 - £1 a day challenge. £325 of £3661 -
orange-juice said:
Excuse my poor comprehension skills, do you mean many don’t pay the interest into a separate account?eskbanker said:Somewhere in between typical and an anomaly I think, some do this but many don't.
Some do, some don't.0 -
Interesting, I’ll try cancelling and going through it again .JGB1955 said:
If you chose monthly the interest will be paid to your external account. If you chose annual the interest will compound (and the balance be slightly higher at the end of 12 months).orange-juice said:
Yes, I did go for monthly. Did you not have this trouble by going annual?JGB1955 said:Did you apply for a monthly interest payment rather than annual?0 -
Yes, many will just add it to the balance of the account itself, and some will offer the choice of doing either!orange-juice said:
Excuse my poor comprehension skills, do you mean many don’t pay the interest into a separate account?eskbanker said:Somewhere in between typical and an anomaly I think, some do this but many don't.0
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