If I close my rabo account, will I get my interest now?

K

Krew Bot

Guest
Guys, I'm thinking of opening an account with northern rock to avail of their higher 5% interest rate. I have a rabodirect account on the 4.3% rate. If I were to close my rabodirect account would I be given the interest on the day of closure or would I have to wait until January 1st 2009?

I think I'll leave the Rabo account open with a couple of euro in it in case they increase their rate sometime in the future, but I am curious as to how the payment of interest works when an account has been closed.
 
I only have experience with other banks - normally what would happen is that on closure of an account interest is paid on date of closure - but if you were to leave it open with a couple of Euro in it, you would have to wait.