Interest payments - Aussie Stock Forums

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  1. #1

    Default Interest payments

    Is it normal to not be paid bank interest for a particular month such as February due to its short period? Has anyone experienced this before or anything similar?
    Discussion only! Posts may be factually incorrect due to ignorance, taken out of context, misinterpreted, or just opinionated discussion.

  2. #2
    Happy's Avatar
    Join Date
    Jul 2005
    NSW, Australia

    Default Re: Interest payments

    I am too lazy to close couple of accounts that pay 0.1% up to certain amount, so this: too short to be eligible for interest doesn't surprise me.

    (Funny that deming account gets mandatory interest levels even if it has only few cents there)

  3. #3

    Default Re: Interest payments

    Quote Originally Posted by It's Snake Pliskin View Post
    Is it normal to not be paid bank interest for a particular month such as February due to its short period?
    No, its not normal, you should investigate if you have not been paid.

    It could be the bank changed the terms on the account and you didn't receive the notice.

    But on the other hand, you would be surprised how many errors banks make on savings and loan interest that no-one ever questions, let alone knows about.
    A famous entertainer once said that ninety percent of success is showing up on time. Sorry I'm four hours late!!!

  4. #4

    Default Re: Interest payments

    No, of course it's not normal if you usually receive monthly interest. You would expect a slightly lesser amount than in January because of the fewer number of days in the month.
    Phone your bank.

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