Can someone maybe from monzo add some clarity for me on how savings pot interest works. And also maybe update the following “how they work” screens to reflect this better @AlanDoe @simonb
So i have an easy access savings pot that i just moved some money into after being paid early on friday as you can see from the screen below.
I have not put anything more in this in the month of march. So my current pot standings looks like this:
Can i ask how the interest earned this month is calculated? And when is is calculated from? Does it only gain interest if in by a certain time that day? Is it only banking days? Does it need to clear?
My understanding is that once ive put that money in on friday it should have gained 2 days interest?
1760/100… *1.15… /365… *2 = 11p?
Not a massive deal/difference but would be nice to know.
These are all questions i think that should really be included in this section or at least somewhere