Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
Interest on current account balance before card payment clears
edited 30 November -1 at 1:00AM in Budgeting & Bank Accounts
1 reply 290 views
Say you have £10k in your current account and make a debit card payment for £1k such that your available balance immediately drops to £9k but you overall balance remains at £10k for the next 2 days until the card payment clears. For these 2 days do you earn interest on the full £10k or only on the available balance of £9k? (I think it is the former but wanted to clarify.)