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    Is all interest i.e on ISA current accounts paid on the 6th April or when you actually opened the account?

    thanks
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    (Original post by Bill_Gates)
    Is all interest i.e on ISA current accounts paid on the 6th April or when you actually opened the account?

    thanks
    Depends. Some will be paid monthly, some will be paid annually. This may be on a specific day (i.e. 1st of the month) or a month/year after opening. One thing I can guarantee is that interest won't be paid as soon as you open an account.
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    It's dependant on the bank and the terms and conditions of your account I believe. For example, on my ISA they calculate it based on the anniversary of the date I opened the account.

    I was researching different ISA's the other day, and one of them said that they paid interest on 31st March. So I think it really does vary, it'd be worth just reading over the T&C's when you open the account.
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    (Original post by thegaffer91)
    Depends. Some will be paid monthly, some will be paid annually. This may be on a specific day (i.e. 1st of the month) or a month/year after opening. One thing I can guarantee is that interest won't be paid as soon as you open an account.

    (Original post by Sazzy890)
    It's dependant on the bank and the terms and conditions of your account I believe. For example, on my ISA they calculate it based on the anniversary of the date I opened the account.

    I was researching different ISA's the other day, and one of them said that they paid interest on 31st March. So I think it really does vary, it'd be worth just reading over the T&C's when you open the account.
    Its an annual account two of them. I was paid 2nd April last year so i should of got paid on today. It might just be the 6th or whenever its 365 days are up. Thanks for the replies, its with Llyods Tsb.
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    (Original post by Bill_Gates)
    Its an annual account two of them. I was paid 2nd April last year so i should of got paid on today. It might just be the 6th or whenever its 365 days are up. Thanks for the replies, its with Llyods Tsb.
    The details of Lloyd TSB's Cash ISA saver explain that "interest will be paid yearly on the 31st March". The reason for it not being exactly on that date last yer may have been because it was a weekend. The same likely applies this year, but also with the addition of bank holiday dates.

    See here for referene, assuming that this is your account: http://www.lloydstsb.com/savings/cash_isa.asp
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    (Original post by Illusionary)
    The details of Lloyd TSB's Cash ISA saver explain that "interest will be paid yearly on the 31st March". The reason for it not being exactly on that date last yer may have been because it was a weekend. The same likely applies this year, but also with the addition of bank holiday dates.

    See here for referene, assuming that this is your account: http://www.lloydstsb.com/savings/cash_isa.asp
    Thanks a lot mate. So it should hopefully come in tomorrow?
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    (Original post by Bill_Gates)
    Thanks a lot mate. So it should hopefully come in tomorrow?
    Well, with 2 April being the first working day after 31 March, by rights I'd have expected it to have been paid by now - but yes, I'd suggest checking again in the morning.
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    (Original post by Illusionary)
    Well, with 2 April being the first working day after 31 March, by rights I'd have expected it to have been paid by now - but yes, I'd suggest checking again in the morning.
    Yep Cash ISA account just paid, not a great sum though only 1% jeez. Thank you anyway .
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    (Original post by Bill_Gates)
    Yep Cash ISA account just paid, not a great sum though only 1% jeez. Thank you anyway .
    Far from unusual :sadnod: Get yourself a new account: http://www.moneysavingexpert.com/savings/best-cash-isa (but don't withdraw the cash; instead, ask for an ISA transfer form).
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    (Original post by Illusionary)
    Far from unusual :sadnod: Get yourself a new account: http://www.moneysavingexpert.com/savings/best-cash-isa (but don't withdraw the cash; instead, ask for an ISA transfer form).
    I did check them out before. But i will eventually open a new account somewhere most likely Santander but heard the customer service is shockingly bad.
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    (Original post by Bill_Gates)
    I did check them out before. But i will eventually open a new account somewhere most likely Santander but heard the customer service is shockingly bad.
    I've got a Santander ISA myself and haven't really got much to complain about with that. It's internet-operated so the only time that I need to contact customer services is for the annual shuffle of money to a new account, when the bonus period expires. :rolleyes:
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    (Original post by Illusionary)
    I've got a Santander ISA myself and haven't really got much to complain about with that. It's internet-operated so the only time that I need to contact customer services is for the annual shuffle of money to a new account, when the bonus period expires. :rolleyes:
    Ah, you had to open a normal account right?
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    (Original post by Bill_Gates)
    Ah, you had to open a normal account right?
    No, my ISA is linked to my Halifax current account. There's no need to have any other accounts with Santander (unless things have changed, but I don't believe that they have).
 
 
 
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