Another ICICI thread

Indispensable_Hobbes

Just viewing my account and at present its £100.42 (rich me)

But I'm just wondering what one transaction is, the account looks like this:

1 310805 20% charge withheld 0.11debit
2 310805 interest 0.53credit
3 190705 cheque deposit 100.00credit

what on earth is charge withheld?

YorkshireBoy

Tax on the interest!

Indispensable_Hobbes

why bother mentioning it in the first place... weirdos imo

Stonk

Plenty of people need to know the gross interest figure and the amount of tax deducted, for tax returns.

You're lucky. ICICI haven't paid me any interest. From the above, it appears it should have been credited on 31 August. I was giving them a couple of extra days' benefit of the doubt, but now I won't.

All I've got in there is my initial £1 and a £50 test transfer on 24 August, but there should still be a few pee interest. Is there a minimum amount of interest that they will credit? Has this happened to anyone else (there must be plenty of you with only a quid in ICICI!).

Thanks.

masonic

jenyking wrote:

why bother mentioning it in the first place... weirdos imo

I'm not sure, but they probably have to declare it. They could have worded it a little clearer, though.

isasmurf

All banks must provide information to the account holder(s) of the tax deducted during the course of a tax year. They can either do this by giving a summary at the end of the tax year, or detailing it every time interest is paid.

Indispensable_Hobbes

I'm aware of that but listing it as they have isnt very clear. No where else I bank lists interest this way. If you specifically want interest info its usually sent to you at the end of each tax year.

icici seems to be more bother than its worth reading all these other threads