Question regarding Interest


#1

Is there any info I can read up on Interest processing?

I’ve had an account for 2 months but never seen any credits regarding interest. Do you only get interest with Goals?

I have also opened (this month) a joint account and created various goals and moved cash into them.

When are interest runs posted? Is it on the first day of each month?


#2

Interest is paid on your credit balance. Goals form part of that balance and it is indeed credited on the 1st day at 00.00hrs.


#3

Thanks for confirming.

So a credit balance on 30th June should have created an Interest posting on 2nd July?


#4

It’s the 1st at 00:00hrs. Or at least it is in my experience. Not the 2nd.

So it should be in your account almost straight away as the calendar flips to the 1st of the month.


#5

If you go to Account Management > Account Information > Statements > Interest, you’ll see a breakdown of any interest paid each month.


#6

Cheers Dan, I have checked and nothing there for the month of June. I have raised the issue with CS as they didn’t know why.

Incidentally, they have said they will send an in app message. I’ve not had one of those before. Do I get a notification if they have sent a message?


#7

Yeah, if you receive a message from Customer Services then you’ll get a notification :+1:t2: