*The Commerce Journal>>>Personal Finance

Bank paid the wrong interest for over a year?

Basically the bank offers a bunch of savings account. here is the list in their website: https://www.tdcanadatrust.com/accounts/c...
The one I am enrolled is Guaranteed Investment Accound and should pay 2.75% interest monthly but when I calculated the interest today it was about 0.23% every month. So basically they're giving me the rate of the other account types which they offer, which is 0.25%. I have always kept my balance over 5000 and I am sure my account is the one with 2.75%.
I've had this account for over a year now. I just didn't know about interests and all that. I guess I have been sleeping so far.
So what should I do now that it happened so that they pay me those interests. Is it possible?
thanks

Is it a US account or judging by the name canadatrust I would think from Canada. Don't know the exact laws and rules there, but in the US interest rates can change with rate changes.

Here everytime the FED cuts the rates rates drop despite what you may have started with when you opened the account.

Like I said don't know if that is what it is like there, but might be your answer. Otherwise I would go to your bank and check it out. Plus interest is usually monthly so you have to calculate based on what you had that month vs. what you had at one particular point.

Tags

　　Australia Taxes 　　Small Business 　　Renting & Real Estate 　　Personal Finance 　　Investing 　　Insurance 　　Credit

Related information

I filed bankruptcy in 1996 b/c I had a shopping addiction.?

Just tell them the truth. The floor layout in stores is designed to compel people to buy more products with impulse items by every cash register. Television ads are designed to get people to ...

Credit score question.........................

Timings dont really matter, usually a credit check on your record will increase your score even more (if 2 or 3 done), However if you do get turned down a few times then dont apply too much else it...

UK credit cards??

Couple of balances... paying with credit card!!! This is the usual step to bad debts in the future!! Tread very carefully a credit card should never really be used to pay bills or pay off b...

What is the Formula for Calculating Recurring Deposit?

First find the total principle per month. Formula- P[ n/2 (n+1)] Then find the interest. Formula- Total Principle calculated X rate/100 X 1/12 Then calculate the amount. Formula- P X n + inter...

How can i get control of my MF's portfolio which is with a broker?

You can't transfer existing shares out of his account to you. What you need to do is terminate your account with him and withdraw all the money. Reinvest it where you wish.

...

If you won 500,000,000 dollars, what would you do with it?

Have vision, silly, you could invest it and live off of the interest. I would pay off my friend's & family's debts and spend my life learning and traveling. I'd also set up...

Which wamu checks are free?

You have to order the standard ones from WAMU. The premium checks on that site are not free.

...

Can I access my husband bank account if it is not a joint account. Will it be illegal?

Define access? If he gives you his ATM card to use to deposit funds, or make a specific withdrawal, then yes you can (again, if he gives you permission). You can always deposit funds into the acc...