markr
Member of DD Central
Posts: 766 
Likes: 426
|
Post by markr on Feb 2, 2016 18:12:43 GMT
I have a bit over £300 of idle funds in AC, which I have automatically swept into the QAA.
As far as I am aware, there's been at least £300 in the QAA for most of January, however in my cash account I see an entry on 1st of Feb for January's QAA interest amounting to about 0.00062p. At 3.75% pa, I'd expect about 90p, so quite some discrepancy! Am I missing something?
Another QAA oddity is that my QAA statement shows no transactions ever, even though my MLIA regularly shows shrapnel movements in and out as repayments come in and loan parts are purchased. I assume that this is because the statement only shows direct investments. Is there any way to get a statement for the QAA that includes automatic movements and balances?
|
|
|
|
Post by Come_on_Grandad on Feb 2, 2016 18:31:01 GMT
I have a bit over £300 of idle funds in AC, which I have automatically swept into the QAA. As far as I am aware, there's been at least £300 in the QAA for most of January, however in my cash account I see an entry on 1st of Feb for January's QAA interest amounting to about 0.00062p. At 3.75% pa, I'd expect about 90p, so quite some discrepancy! Am I missing something? Another QAA oddity is that my QAA statement shows no transactions ever, even though my MLIA regularly shows shrapnel movements in and out as repayments come in and loan parts are purchased. I assume that this is because the statement only shows direct investments. Is there any way to get a statement for the QAA that includes automatic movements and balances? That's the interest on your swept cash. Look in the MLIA statement.
|
|
markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Feb 2, 2016 18:52:07 GMT
That's the interest on your swept cash. Look in the MLIA statement. Everything I have in the QAA is swept cash, hence (I think) my QAA statement shows nothing. My MLIA statement shows movements between the QAA and the MLIA, but doesn't show me the balance of the QAA at a given time, or tell me if the funds moved were actually lent or just queued. In other words, I have no way to calculate precisely how much interest I should have been paid in January, except that my own recollection of my account over January suggests it's out by 5 orders of magnitude.
|
|
|
|
Post by Come_on_Grandad on Feb 2, 2016 19:44:06 GMT
That's the interest on your swept cash. Look in the MLIA statement. Everything I have in the QAA is swept cash, hence (I think) my QAA statement shows nothing. My MLIA statement shows movements between the QAA and the MLIA, but doesn't show me the balance of the QAA at a given time, or tell me if the funds moved were actually lent or just queued. In other words, I have no way to calculate precisely how much interest I should have been paid in January, except that my own recollection of my account over January suggests it's out by 5 orders of magnitude. Since your MLIA statement shows movement into/out of QAA, then you are indeed sweeping MLIA cash. The interest entry for swept MLIA cash will be in the MLIA statement at about 13:32 on the 1st. The interest entry in your cash statement is for the <£0.01 holding (which is also swept). The QAA statement is for direct investments.
|
|
markr
Member of DD Central
Posts: 766
Likes: 426
|
Post by markr on Feb 2, 2016 20:04:55 GMT
Since your MLIA statement shows movement into/out of QAA, then you are indeed sweeping MLIA cash. The interest entry for swept MLIA cash will be in the MLIA statement at about 13:32 on the 1st. The interest entry in your cash statement is for the <£0.01 holding (which is also swept). The QAA statement is for direct investments. Found it, thanks, turns out it was £1.19 (woo hoo). The bit I'd missed is that interest on swept money is paid back into the account it was swept from (and then, as you say, swept straight back out again).
|
|
