Somthings not quite right

[fletch70]

You are right in that the figures don't add up. Without seeing the whole paper trail it is difficult to say. But if they were taking the interest off different things that will be what is tucking it up. They have obviously been taking the credits off the purchase amount hence the purchase interest is lower than work out what the purchase interest should actually be. it should be. £18.70 per month£1000 so for the last entry on the spread sheet it would be nearer £24 than what is shown. That is assuming the whole balance is purchases

[ICY]

I have no idea, it makes no sense to me,

 

I would have expected a bank to be able to get something like this right and be clear about it too,

 

I have just gone through again and didnt spot that there are 3 cash transactions,

something I am against doing

 

there must have been no other options at all, they were

18th July 2012 £150

5th September 2012 £250 and

6th September 2012 £50

 

the rate on these is 2.07 monthly,

although again it makes no sense as unlike the balance transfer there is no mention

anywhere of cash transaction interest on my statements.

 

Its very sneaky separating different transaction so they can hold them back constantly adding interest to them, money for nothing, why they cant just take a card balance and have one interest rate baffles me

[fletch70]

Somewhere in your terms i suspect it says that cash and balance transfers are the same rate. Are the cash withdraws likely to be you. If not ask for clarification.Could someone else have used your card.

[ICY]

This is the reason I was trying to work out when and where they take there interest rates from so I could do it myself and see what I came up with, these figures are too wide apart to be just a slight miscalculation, santy claims £1800.45, my transactions and the purchase interest show £1348.61, something is seriously amiss

 

I love her quotes "When your payment of £1400 was transferred to you, this should have not been processed as a balance transfer as you rightly stated" "I have set your account to 0% interest for the balance transfer until 1 August 2015"

 

So they still think somehow that there is an amount outstanding under a balance transfer what the hell is going on, I GIVE UP.

[fletch70]

If you went back to the point that the money was balance transfered off and basically add it interest at 1.87% per month I wonder what would happen.

I assume all your balances are less the £1400 is that right?

[ICY]

If you went back to the point that the money was balance transfered off and basically add it interest at 1.87% per month I wonder what would happen.

I assume all your balances are less the £1400 is that right?

 

The balances on my spreadsheet I have ignored the £1400 yes, The £1400 was paid back to my account on 23rd January 2012

[ICY]

I don't believe it, all this time and I didn't see the obvious which was staring me in the face, one small formula error, from when I entered the interest amounts after the bogus balance transfer for some reason they weren't auto totaling, from 12/1/12 statement onward, hence the difference in figures, sometimes its the most obvious things. Glad its sorted now before I looked totally stupid in front of loads of people, oh, too late. :/

 

But wait, the balances don't tally, there's a difference I have £1,801.36 and they say I owe £1800.45 I want my..... Oh hang on a minute, lets leave it at that eh

 

My brain can take no more, but I am so pleased to have go to the bottom of that and it actually does now make sense, although the amounts charged don't make sense compared to balances but that's for another day.

[caro]

The difference is probably roundings Icy,

[fletch70]

I am glad you are sorted and feel more comfortable with it.

 

Spreadsheets are a bloody nightmare, had this with a budget sheet recently which wouldn't cross balance. Eyestrain and rechecking every formula got it right.

 

Hope 91p will not break the bank

[ICY]

I think i will just about manage to scrape through without it