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Post by df on Mar 13, 2020 19:30:47 GMT
Since 30-day was launched I use QAA for storing a small amount to invest in new loans (MLA). It has been constantly £100+ (any surplus/deficit was fed in and out to other access accounts). Interest was paid as expected, but from April 2019 the monthly interest I receive is £0.00033xxxxxxxxxx - in my calculation I should be getting around 34p per month from QAA. The setting is "Invest Idle Funds:all". Im I missing something or miscalculating?
I should probably contact AC with this question, but don't want to bother their customer services with such minor queries (especially at this time).
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withnell
Member of DD Central
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Post by withnell on Mar 13, 2020 21:00:45 GMT
Since 30-day was launched I use QAA for storing a small amount to invest in new loans (MLA). It has been constantly £100+ (any surplus/deficit was fed in and out to other access accounts). Interest was paid as expected, but from April 2019 the monthly interest I receive is £0.00033xxxxxxxxxx - in my calculation I should be getting around 34p per month from QAA. The setting is "Invest Idle Funds:all". Im I missing something or miscalculating? I should probably contact AC with this question, but don't want to bother their customer services with such minor queries (especially at this time). Any interest on swept cash is by default paid into cash I believe, so have a check in the transactions there
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Post by df on Mar 13, 2020 21:23:33 GMT
Since 30-day was launched I use QAA for storing a small amount to invest in new loans (MLA). It has been constantly £100+ (any surplus/deficit was fed in and out to other access accounts). Interest was paid as expected, but from April 2019 the monthly interest I receive is £0.00033xxxxxxxxxx - in my calculation I should be getting around 34p per month from QAA. The setting is "Invest Idle Funds:all". Im I missing something or miscalculating? I should probably contact AC with this question, but don't want to bother their customer services with such minor queries (especially at this time). Any interest on swept cash is by default paid into cash I believe, so have a check in the transactions there Thank you. I've checked cash. Interest payments for QAA are £0.019 - still much less than I expect @4.1% rate.
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registerme
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Post by registerme on Mar 13, 2020 21:37:05 GMT
There's a difference between QAA and your cash account. Your cash account, assuming it's set not to invest / reinvest in eg QAA, earns nothing.
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Post by df on Mar 14, 2020 1:29:57 GMT
There's a difference between QAA and your cash account. Your cash account, assuming it's set not to invest / reinvest in eg QAA, earns nothing. I keep this money in MLA "awaiting investment" and the same amount is displayed on QAA. My setting is "Invest idle funds from other Assetz Standard Investment Accounts and your Standard Cash account". So in theory I should be earning 4.1%, not 0.2%.
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dave2
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Post by dave2 on Mar 14, 2020 2:21:27 GMT
I keep this money in MLA "awaiting investment" and the same amount is displayed on QAA. My setting is "Invest idle funds from other Assetz Standard Investment Accounts and your Standard Cash account". So in theory I should be earning 4.1%, not 0.2%. For funds swept from MLIA to QAA: An interest posting should appear in your MLIA account with the narrative " Interest payment for Quick Access Account for month 2020-02 @ 4.1% per annum".
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Post by df on Mar 14, 2020 2:41:17 GMT
I keep this money in MLA "awaiting investment" and the same amount is displayed on QAA. My setting is "Invest idle funds from other Assetz Standard Investment Accounts and your Standard Cash account". So in theory I should be earning 4.1%, not 0.2%. For funds swept from MLIA to QAA: An interest posting should appear in your MLIA account with the narrative " Interest payment for Quick Access Account for month 2020-02 @ 4.1% per annum". Thank you dave2 . Looked at MLA statement and found my "lost" QAA interest. "Mystery" solved 
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Post by chris on Mar 14, 2020 7:15:18 GMT
For funds swept from MLIA to QAA: An interest posting should appear in your MLIA account with the narrative " Interest payment for Quick Access Account for month 2020-02 @ 4.1% per annum". Thank you dave2 . Looked at MLA statement and found my "lost" QAA interest. "Mystery" solved Yes, interest is paid back to the account where the funds were swept from. Also worth noting that AA interest is calculated per second rather than daily so you can't simply take end of day balances.
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warn
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Post by warn on Mar 14, 2020 9:13:04 GMT
Also worth noting that AA interest is calculated per second rather than daily so you can't simply take end of day balances. Only per second, Chris? I'd have expected per millisecond at least, if only to keep the first few decimal places exercised.
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Post by df on Mar 14, 2020 9:23:06 GMT
Thank you dave2 . Looked at MLA statement and found my "lost" QAA interest. "Mystery" solved Yes, interest is paid back to the account where the funds were swept from. Also worth noting that AA interest is calculated per second rather than daily so you can't simply take end of day balances. Yes, I remember you've mentioned it in the past. This explains why I'm also getting a tiny interest in QAA and cash.
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