[Solved] Interests on cash are calculated incorrectly

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1

Hey Freetrade Community,

Updated May 22: it was my mistake and I was not on a Plus plan. Please disregard the rest of the post.

Just wanted to get a sense if my problem is unique or it is more widespread and highlight that it might make sense to check interests which are being paid to your accounts.

I believe that Freetrade incorrectly calculated interests on the cash I have on my account.

During whole April month I had >£4000 cash every day. I’m using the following math to get an idea of how much I should have received: 4000 * 0.03 / 365 * 30 ~= 9.86. Though, for the April month I’ve received just £1.64.

Appreciate community input on this (and hopefully official reply on the matter).

2

Hey @max_log

What accounts are you holding this cash in (GIA, ISA, SIPP)?

That does seem quite far off what interest should have been paid. I know there was an issue with how some client’s interest was being calculated, but this sounds different.

Best,
Alex

3

Hey @acamp,

Thank you for your reply. Unfortunately I couldn’t delete pending message for the community post, but I’ve figured that out. I had ISA, but I was not on the Plus plan and got confused. Sorry for the incorrect information I’ve provided in my original post.

4

I’ve updated the initial post, please feel free to close this topic.

2 Likes
5

Cool thanks!