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Round up RBS

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Comments

  • Middle_of_the_Road
    Middle_of_the_Road Posts: 909 Forumite
    500 Posts Second Anniversary Photogenic Name Dropper
    edited 31 October 2024 at 12:46PM
    Although I've not done it, a few have admitted to making hundreds of £0.01 payments to places that accept such a thing.
    So by doing this,  they are in effect making 99p transactions then?
    Interesting.
    Thanks for replying. 

    No, a 1p transaction, giving a 1.98 round-up to the digital regular saver.
  • Bridlington1
    Bridlington1 Posts: 3,250 Forumite
    1,000 Posts Second Anniversary Photogenic Name Dropper
    edited 31 October 2024 at 12:46PM
    Although I've not done it, a few have admitted to making hundreds of £0.01 payments to places that accept such a thing.
    So by doing this,  they are in effect making 99p transactions then?
    Interesting.
    Thanks for replying. 
    In that scenario they make a 1p debit card transaction, which results in £1.98 being rounded up if double round ups are on, not 99p (double round ups doubles the change from the transaction amount rounded up to the nearest £1 so 2*99p is rounded up).
    I don't think so - mine adds a fair bit every week - I think the only limit is when you hit the limit for the account and then the interest rate drops 
    Limit for the account,  you mean the saving account  or current?
    Thank you for replying. 
    the savings account has a limit (at least mine does) of about 5K 
    There is no limit, but the headline interest rate is capped at 5K. Above that interest is paid at 1.75 AER
    Are we talking about the digital regular saver here?
    That's the one I'm using.
    From the RBS website

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    100 Posts Name Dropper Photogenic
    edited 31 October 2024 at 12:46PM
    Although I've not done it, a few have admitted to making hundreds of £0.01 payments to places that accept such a thing.
    So by doing this,  they are in effect making 99p transactions then?
    Interesting.
    Thanks for replying. 

    No, a 1p transaction, giving a 1.98 round-up to the digital regular saver.
    OK, l realised that but was clarify  using the ordinary  round up option. 
    Thank you for the information:)
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    100 Posts Name Dropper Photogenic
    edited 31 October 2024 at 12:46PM
    Although I've not done it, a few have admitted to making hundreds of £0.01 payments to places that accept such a thing.
    So by doing this,  they are in effect making 99p transactions then?
    Interesting.
    Thanks for replying. 
    In that scenario they make a 1p debit card transaction, which results in £1.98 being rounded up if double round ups are on, not 99p (double round ups doubles the change from the transaction amount rounded up to the nearest £1 so 2*99p is rounded up).
    I don't think so - mine adds a fair bit every week - I think the only limit is when you hit the limit for the account and then the interest rate drops 
    Limit for the account,  you mean the saving account  or current?
    Thank you for replying. 
    the savings account has a limit (at least mine does) of about 5K 
    There is no limit, but the headline interest rate is capped at 5K. Above that interest is paid at 1.75 AER
    Are we talking about the digital regular saver here?
    That's the one I'm using.
    From the RBS website

    OK,  thank you for the information provided  it's been helpful. 
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