Barclays Rainy Day Saver no interest credited

pecunianonolet

Hi,

I've got the Rainy Day Saver open and since October last year the balance is £1 to satisfy the minimum balance requirement. 

Barclays states they pay interest on the first working day of the month. However, even with just £1 in there I should  have been credited with 2 pennies between October and March but nothing. 

1st of April being the first working day of the month I was planning on parking 5k there for the 4.76%/4.87% AER until the rates drop on 6th May before I assess where else it will go.

Is there a reason for concern that something isn't working properly (wouldn't be surprised) with their systems? 

I prefer not to contact them as they offered me Premier services without me fulfilling the criteria and I am prepared for them to realise at some point but I happily take the free AppleTV for now. Raising a ticket may spark reason for investigations. 

jaypers

Less than 0.05p pcm so suspect that their systems work monthly rather than cumulatively. The account works fine. Please don’t waste their time with this!

Hoenir

Read the terms and conditions of your account. Where interest of less than a 1p is earnt in a month then the system is unlikely to credit it.  Certainly not programmed to wait until a 1p is earnt over an extended period of time. 

pecunianonolet

Hoenir said:

Read the terms and conditions of your account. Where interest of less than a 1p is earnt in a month then the system is unlikely to credit it.  Certainly not programmed to wait until a 1p is earnt over an extended period of time. 

Ohh great idea, not that I would have not thought about that before I posted....

https://www.barclays.co.uk/content/dam/documents/personal/savings/RainyDay_Saver_Terms.pdf