First Active eSavings €15,001 limit - refund of underpaid interest

Before Christmas I claimed on AAM that FA had underpaid me interest on my eSaving account.

The balance was at exactly €15,000 and this triggered the lower interest rate that was supposed to only take effect at €15,001.

Arising from an internal review First Active have contacted me and given me a refund for the under paid interest + a small correction for compounding.

So fair dues to FA for correcting it.

Hopefully this removes any lingering doubt about where their systems now apply the cut-off for the higher interest rate calculations.

I received a hand-written cheque from FA yesterday for a similar underpayment! It's a bit annoying that they just couldn't add it to the account! It kind of mocks the whole e-savings concept.

In my case I'm glad they didn't just lodge it to the account as that would have put it over the €15,001 limit! They could have lodged it to my other account though.