When did Natwest 2 year fixed ISA start accruing interest?

kidwell25

I opened and funded the above (new money - not a transfer) in early August but have just had a notification of my certificate of deposit. It's claiming a start date of 4/9, but also says "Interest rate applicable prior to start date: interest will be paid at same interest rate as during your term". So I'm hoping that does mean that it's been earning interest for the last few weeks. Seems a slightly unusual way to express things - other fixed term products I've taken out in the past have just given a maturity date.

masonic

There seemed to be a lot of confusion about this at the time, but the prevailing view was that interest accrued from the date of deposit. We'll know for sure when the first interest payment is made, or someone closes early and can calculate how many days they got.

35har1old

masonic said:

There seemed to be a lot of confusion about this at the time, but the prevailing view was that interest accrued from the date of deposit. We'll know for sure when the first interest payment is made, or someone closes early and can calculate how many days they got.

They have not manged to transfer mine yet

drphila

Haven't checked my isa statements yet but have already received two payments on the non-isa version (1st Aug and !st Sept) so assume isas will be same