Changing the day of month on which monthly interest is paid away on a fix

intalex

From my own experience, fixed rate accounts use the day of month when the account was first funded as the recurring day of month on which interest is paid. I'd be grateful to hear of others' experiences of successfully managing to change this to another day of month that more optimally serves their personal cash flows?

Just the name of the bank and how they managed to get it changed would be very helpful.

Thanks in advance!

wmb194

intalex said:

From my own experience, fixed rate accounts use the day of month when the account was first funded as the recurring day of month on which interest is paid. I'd be grateful to hear of others' experiences of successfully managing to change this to another day of month that more optimally serves their personal cash flows?

Just the name of the bank and how they managed to get it changed would be very helpful.

Thanks in advance!

You can choose the date with Atom. You change it in the app.

Bravepants

If you can't change the date you could use a second current account into which all income is paid at whatever date has been set. Then keep a cash float in that account for paying out to your day-to-day current account on your preferred date. Of course this depends on whether you have the money available to fund the float.

ZeroSum

Most either use day funded or last day of the month. The only bank that I know of were you can change it is atom.

boingy

I'm surprised that any bank will let you change the date after opening the account. You need to adapt your cash flow to the date rather than trying to change the date.

BoGoF

Or time the opening of your accounts to match your needs.