Plum not paying interest on £20k ISA after 16 months

masonic

Ed-1 said:

masonic said:

Most people complain about the fact interest is paid one month in arrears and the bonus is withheld until the end of the period.

That's another contradiction. My app says the bonus interest will be paid at the end of the 13th month. That page says at the start.

That page was updated a week ago. Did you notice:

So perhaps they are ending the practice of making people wait an extra month for interest to be credited.

I did notice my August interest had already been paid when I logged in just now. So perhaps this explains it.

Ed-1

masonic said:

Ed-1 said:

masonic said:

Most people complain about the fact interest is paid one month in arrears and the bonus is withheld until the end of the period.

That's another contradiction. My app says the bonus interest will be paid at the end of the 13th month. That page says at the start.

That page was updated a week ago. Did you notice:

So perhaps they are ending the practice of making people wait an extra month for interest to be credited.

I did notice my August interest had already been paid when I logged in just now. So perhaps this explains it.

Oh good. I thought typical - accounts opened before 1st September would be on the old practice of the end of the month. But then I thought my account was activated after 1st September so should be on the new system if that's the case. But it seems that accounts will all be on the new system. It'd be nice if they updated the app to reflect it.

Ed-1

masonic said:

Unlike the Cash ISA, this bonus doesn't appear to be variable

All is not as it seems.

masonic

Ed-1 said:

masonic said:

Unlike the Cash ISA, this bonus doesn't appear to be variable

All is not as it seems.

I did see that in the help article, but it is not supported by anything in the financial promotion as far as I can see. Not the key product information, FAQ, or T&C. Did I miss it? Contrast that with the Cash ISA where (variable) appears after almost every mention of the bonus rate.

If it were stated as variable in the financial promotion you'd have no reasonable grounds to expect it to remain the same between opening and funding.