Moneybox: Open access cash ISA interest to be paid monthly

frosch411

Hi all
Got an email today saying interest that my Open Access Cash ISA interest will soon be paid monthly rather than annually.

Personally, I am in favour

Below what the email said.

Thanks

Hi, we’re pleased to say that coming soon, the interest on your Open Access Cash ISA will change from annual to monthly payments. Going forward any interest you earn will be paid into your account on the first day of each month.

When is this changing?

The change to monthly interest payments will take effect across the next few weeks and we’ll be in touch via email when your Cash ISA is ready to be updated.

Important things to note

There will be no impact to your total interest rate, including any bonus rates (if eligible). Any interest you have already accrued within your current 12-month period will be added to your Cash ISA account balance and we’ll let you know when this is complete. During the update on your account, which may take up to one day, you will be temporarily unable to withdraw or move money from your Cash ISA.

JohnB47

I got that message too. I missed it until I read your post. Thanks.

slinger2

A first for me, being forced to change from annual to monthly interest. No big deal.