We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Moneybox: Open access cash ISA interest to be paid monthly
Comments
-
Hi, can anyone help me with a dilemma i have with my new Moneybox Cash Isa. I selected it from the list on the MSE web and i transferred £95,000 into it as it was the highest rate at the time (pre BOE increase), it said that interest was paid monthly however i have been told by Moneybox that the interest can't be withdrawn as that would count as a "withdrawal" from the principal sum as such and the interest has to remain in and added monthly to it to enable the interest the compound correctly each month! Surely this is incorrect isn't it? Can anyone shed any light on this please? Thanks.0
-
Answered on your other thread - it sounds like you don't have the product that this thread is about....Polaris1957 said:Hi, can anyone help me with a dilemma i have with my new Moneybox Cash Isa. I selected it from the list on the MSE web and i transferred £95,000 into it as it was the highest rate at the time (pre BOE increase), it said that interest was paid monthly however i have been told by Moneybox that the interest can't be withdrawn as that would count as a "withdrawal" from the principal sum as such and the interest has to remain in and added monthly to it to enable the interest the compound correctly each month! Surely this is incorrect isn't it? Can anyone shed any light on this please? Thanks.0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards