Santander ISA interest

billn

I opened a Santander Fixed for 18 months ISA at the end of March this year, my wife opened a Santander Fixed for 1 year ISA on the 6 April this year. My wife has been paid interest for the period to 6 May but I have had no interest paid on mine.

I wasn't expecting interest on my ISA until the 1 year anniversary of opening and my wife the same.

Can anybody with the same type of Santander ISA confirm or not that they have been paid interest.

refluxer

This is obviously normally caused by choosing different interest options (ie, monthly or annually), however I've got a couple of these and it looks like annual interest is the only option.

Looking back at the two I've opened, I think this might be something to do with the fact that these ISAs have a particular maturity date and are therefore (depending on exactly when you open them) often not exactly 12, 18 or 24 months.

I opened the first towards the end of Sept 2022 and, as that ISA matures on 1st Oct 2023, I received a small interest payment on 2nd Oct 2022 which I presumed covered me for the week or so in-between opening/funding it and 1st Oct 2022.

Conversely (and to back up my theory), I delayed funding the second one for a few weeks which means it'll run for slightly less than the 18 months stated and I haven't received an interest payment for that one.  

So... based on this, could the reason why your wife has received an interest payment and you haven't be that your wife's 1 year ISA will run for a bit over 12 months and yours for a little under 18 months ? To work this out, you'll need to check the date the accounts were first funded and also the exact maturity date for each.

billn

Thank you for your reply, I did wonder whether it was to do with annual or monthly interest but on checking there is no option only annual but the term of my wife's ISA is actually 13 months so I assume that is the reason for the payment, mine is just for 18 months so I am expecting interest at the 12 month stage and on maturity.

I have also got a Kent Reliance fixed  ISA and that has paid interest at the end of the tax year.

subjecttocontract

We have the same situation as the op. Opened a 1 yr  fixed rate Isa with Santander 6th April and have received a months interest to 6th May.

financehelp23

I got the same question. One received one did not. I asked them to send details over two weeks now,  did not hear anything. 
I do not feel they have processed interest transparently for cheque transfer in.   
Very annoy...