mogish
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Post by mogish on Sept 10, 2021 7:54:31 GMT
Most of my funds are in premium however I keep a small amount in classic. I've noticed since I moved the bulk over to premium I am recieving no interest in classic. Any explanations?
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withnell
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Post by withnell on Sept 10, 2021 8:37:01 GMT
You should get an interest line for each of premium and classic - sure the excess funds aren't sitting in your cash pot? Whenever you make any scheduled withdrawal your auto-investment instructions get turned off across both Std and ISA accounts
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Post by Badly Drawn Stickman on Sept 10, 2021 8:39:14 GMT
Most of my funds are in premium however I keep a small amount in classic. I've noticed since I moved the bulk over to premium I am recieving no interest in classic. Any explanations? If a 'small amount' is insufficient to generate at least 1p a day, it will not show in the daily figures. It will however after accumulation show in your overall total.
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withnell
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Post by withnell on Sept 10, 2021 8:43:22 GMT
Most of my funds are in premium however I keep a small amount in classic. I've noticed since I moved the bulk over to premium I am recieving no interest in classic. Any explanations? If a 'small amount' is insufficient to generate at least 1p a day, it will not show in the daily figures. It will however after accumulation show in your overall total. It won't increase the total number, but you do get a 0.00 entry showing in transaction history (and if you do an excel download you get it to several decimal places)
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Post by Badly Drawn Stickman on Sept 10, 2021 8:49:41 GMT
If a 'small amount' is insufficient to generate at least 1p a day, it will not show in the daily figures. It will however after accumulation show in your overall total. It won't increase the total number, but you do get a 0.00 entry showing in transaction history (and if you do an excel download you get it to several decimal places) True, but would give the illusion of not receiving interest. Arguably knowing what a 'small amount' actually was would have been useful
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mogish
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Post by mogish on Sept 10, 2021 13:01:07 GMT
That's correct... it shows 0.00 classic interest. This may be down to holding under a tenner as mentioned earlier in classic however I've had £60 in classic for over a week now and still shows zero.
Will let it build up instead of transferring my regular zopa payments to premium and see what happens.
As mentioned maybe sums are too small to show.
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withnell
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Post by withnell on Sept 10, 2021 15:37:51 GMT
That's correct... it shows 0.00 classic interest. This may be down to holding under a tenner as mentioned earlier in classic however I've had £60 in classic for over a week now and still shows zero. Will let it build up instead of transferring my regular zopa payments to premium and see what happens. As mentioned maybe sums are too small to show. If you "Download history" then you'll see the figures to 6dp - but yes with £60 I'd expect c. 3p interest to be showing in your cash balance total by now
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mogish
Member of DD Central
Posts: 1,105
Likes: 527
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Post by mogish on Sept 10, 2021 21:46:51 GMT
Thanks all.... investigated and understand now. spot on as usual.
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Post by overthehill on Sept 15, 2021 20:21:59 GMT
Has anyone else noticed a discrepancy with their Premium Account interest rate of 4% pa ? My daily interest works out at 3.942% pa. It says that unused cash earns interest and the 4.0% is not a compound rate based on reinvesting earned interest. So I don't understand the daily interest rate I'm getting ?
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Post by Ace on Sept 15, 2021 21:01:20 GMT
Has anyone else noticed a discrepancy with their Premium Account interest rate of 4% pa ? My daily interest works out at 3.942% pa. It says that unused cash earns interest and the 4.0% is not a compound rate based on reinvesting earned interest. So I don't understand the daily interest rate I'm getting ?
My interest is exactly correct to at least 6 decimal places. You can see accurate figures by downloading your history, rather than the 2dp figures displayed. Calculated as Premium balance * 1.04 / 365.
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Post by Ace on Sept 15, 2021 21:06:32 GMT
To be clear, the "cash awaiting investment" inside the Premium or Standard accounts earns interest, but not the unassigned cash in the Cash account (I.e. the cash that's waiting for a full £10 to accumulate in the cash account if you have reinvestment turned on does not earn interest).
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Post by overthehill on Sept 16, 2021 8:05:14 GMT
Has anyone else noticed a discrepancy with their Premium Account interest rate of 4% pa ? My daily interest works out at 3.942% pa. It says that unused cash earns interest and the 4.0% is not a compound rate based on reinvesting earned interest. So I don't understand the daily interest rate I'm getting ?
My interest is exactly correct to at least 6 decimal places. You can see accurate figures by downloading your history, rather than the 2dp figures displayed. Calculated as Premium balance * 1.04 / 365. Exactly right. I hadn't noticed the balance column being rounded up every second payment.
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