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Moneybox: Open access cash ISA interest to be paid monthly
Comments
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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BOE increase), it said that interest was paid monthly however i have been told by Moneybox that the interest can't be withdrawn as that would count as a "withdrawal" from the principal sum as such and the interest has to remain in and added monthly to it to enable the interest the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
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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BOE increase), it said that interest was paid monthly however i have been told by Moneybox that the interest can't be withdrawn as that would count as a "withdrawal" from the principal sum as such and the interest has to remain in and added monthly to it to enable the interest the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
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