Co-Op Bank Monthly Bond Interest.

Candub_69

I have a few bonds and the monthly interest is always paid on the anniversary of account opening each month and the Co-Op one is the same , however it never gets paid on the day . The fist one was 2 days after the anniversary and this month nothing yet. Supposed be the 23rd , nothing on the 24th and obviously now being Christmas probably wont be until next week.  Just seems there systems are behind other banks, 

I did query this with them and they said the anniversary date was the 23rd.

Anyone else experience this,, I did a similar post last month. 

flaneurs_lobster

Maybe the Co-op pays using BACS? That would usually take three working days to credit of your account. 

Did you ask The Co-op specifically how they pay out bond interest?

Candub_69

Hi Flaneurs Lobster , No I did not ask and maybe your right. Ill check on Monday , Tuesday next week , Knowing the Co-Op they probably do.

mills112

i just checked mine and it is paid on the 25th of every month.  seems to come on that day unless it is a weekend, then it comes on the Monday after the weekend.  as 25 december is a bank holiday, i expect it will get paid into my bank on 29 december.