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  1. #1

    Help with interest amount after closure

    Only a branch saver account and not sure ive got the smallish interest amount i should have.Closed account fri 16th jan.
    Interest yearly 25th june to 25th june, rate 1.01%.

    I will ask this in 2 parts if i can.

    1. the amount in my account from 25th june 2017 was 13,540,94 none withdrawn so it should have had 6months + just over 2 weeks interest up to 19th jan 2018, so that should all add up to 13,610,00 approx. I have had a figure of 13,650.xx transferd to another account of mine. A bit long winded question i know sorry.

    2 I left out 3 small cheques from the original 13,540,94 on purpose because they were added in oct,dec, and the last one 3 days before closure, 2 25.00 and a 7.00 cheque.
    So if the 13,610.00 figure is correct i can then add the 57 in cheques i left out and that shoud add up to 13,667,00 at least so 17 more than the final figure of 13,650.00 i have been given. Hope someone can understand this before i get on to the bank on monday.

  2. #2
    What are the terms of the account? For example, are there any withdrawal penalties, is interest only paid for whole months, any expiring bonuses or changes to interest rate, etc, etc? Had the most recent cheque cleared when you closed the account?

  3. #3
    Typo? Or instruction given Tues 16th and it took them 3-4 days to close?

  4. #4
    Thanks for looking at this.

    3 withdrawals per year or rate drops, i never withdrawn anything.
    Whole months interest not sure i assume so, no bonus etc, but the last cheque i added 3 days before closure did show in my passbook but it may not have cleared as you say, and that was 25.
    But the whole month interest you mention must mean i have 6 full months from 25th june 2017 to jan 19 2018?

  5. #5
    Yes thanks well spotted it was a typo, closed on 19th jan in store in 10 minutes.

    So as i have just said last cheque 25 went in on 16th and maybe not enough time to clear in 3 days and be added to my final figure?

    I will first ask about the cheque on monday when i phone them and see what they say, it does sound feasible


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