Maths / Interest question

retiredbanker1

Final Update

They admitted errors in charging me withdrawal fees when they should not.
They took the charge from the next year's interest which I thought was underhand.

They are paying ne £100 compensation on top of the interest lost.

masonic

That's quite a surprise. Pays to check interest calculations I suppose. I've rarely done so in the past, but might start checking more going forward.

retiredbanker1

Their argument was that because I was giving maturity instructions before maturity ie 7-10 days prior as soon as the email came through, they were counting that as a normal withdrawal even though I was future dating the transaction until maturity.
What really annoyed me was the fact that instead of taking the fee clearly from the account they hid the charge by deducting it from future interest - this is how I found out about it this year.