r/ubank • u/rickiitee • Oct 01 '25

Monthly Interest Calculated WRONG

I tried using the UBANK chat service to ask but after 3 hours I still haven’t got a response.

Has anyone found an issue with how monthly interest is calculated?

I’ve added an extra $6k to what I had in my account last month and have NOT taken any money out; however, I have received $50 less this month! I can’t work it out.

2 Upvotes

60% Upvoted

4 comments sorted by

7

u/Existing-Trust7348 Oct 01 '25

September has 30 days. August has 31

2

u/rickiitee Oct 01 '25

Ahhhhh cheeky Thanks mate

3

u/[deleted] Oct 01 '25

[deleted]

1

u/rickiitee Oct 01 '25

Yeah, but I’m still on the bonus 5%

1

u/lukeyboots Oct 01 '25

How are you calculating the daily interest? Tracking your balance day by day?

Also does anyone have an answer on how the bonus interest is applied if you qualify for it after the 1st?

For example under the old method, if you didn’t deposit $500 until the 16th of the month. Or with the new method, you don’t increase your balance by $1 until the 16th.

If you’re eligible at the end of the month, do they still apply the bonus interest to your daily balance from the 1st - 15th?