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Post by jasonnewman on Jan 29, 2021 21:34:03 GMT
AC sent an email saying they will release 10% of withdrawal balance on 30th
Does anyone know if this withheld balance will receive interest on the 31st or are AC trying to push this money out so they don't have to pay the interest accrued Month to date?
Thanks
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,840 
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Post by ilmoro on Jan 29, 2021 21:51:10 GMT
AC sent an email saying they will release 10% of withdrawal balance on 30th Does anyone know if this withheld balance will receive interest on the 31st or are AC trying to push this money out so they don't have to pay the interest accrued Month to date? Thanks Interest accrues daily on invested funds AFAIK so any sum paid out will earn up until midnight tonight.
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dead-money
Rocket to the Moon
Posts: 736
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Post by dead-money on Jan 30, 2021 0:58:07 GMT
As it's AC it will be calculated down to the microsecond...
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Post by oppsididitagain on Jan 30, 2021 8:53:00 GMT
AC sent an email saying they will release 10% of withdrawal balance on 30th Does anyone know if this withheld balance will receive interest on the 31st or are AC trying to push this money out so they don't have to pay the interest accrued Month to date? Thanks You will miss a days Interest, however you can reinvest the funds and get an extra 0.5% (via SHM discount scheme) so that will make up for it if you are looking to keep your money invested. Even more if you put them via the 30AA. These funds won't be instant access though. AC stated they will be doing these larger withdrawals more often, so you make the call if you want to reinvest or not.
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warn
Member of DD Central
Curmudgeon
Posts: 604
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Post by warn on Jan 30, 2021 22:20:12 GMT
As it's AC it will be calculated down to the microsecond... Well, to the second. Mind you, there have been a few "bug fixes" since then.
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