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JSA Bank payment Strange statement

  • 17-09-2020 6:13pm
    #1
    Kirby2k07
    Registered Users, Registered Users 2 Posts: 109 ✭✭


    Hi all, apologies if this is a stupid question, I’m receiving JSA by bank transactions weekly.

    Just having a look at my bank statement I noticed in the description next to the payment amount it reads “ Interest Rate Lending @ 11.850%” followed by the usual long code/bank ac of the social welfare office.

    Does anyone know what this lending and interest rate thing actually means? When I see it, it makes me think that they are only giving me JSA as a loan at a crazy interest rate. What’s going on?

    Thanks for any help!


Comments

  • #2
    gerard2210
    Registered Users, Registered Users 2 Posts: 547 ✭✭✭gerard2210


    Probably just a misprint on the statement.


  • #3
    wench
    Registered Users, Registered Users 2 Posts: 1,663 ✭✭✭wench


    Is that AIB?
    Every so often they just print that on the statement. I assume it is the overdraft rate.
    It doesn't relate to your JA payment at all.


  • #4
    Cherry Blossom
    Registered Users, Registered Users 2 Posts: 6,975 ✭✭✭Cherry Blossom


    Are they on seperate lines? My statement is organised by date everything that happened on a certain date is grouped together. It usually indicates a change of interest rate probably for your overdraft facility at that rate. I don’t have an overdraft on my account but the same thing appears at a rate of 1 or 2% for money I have saved in the account.


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