Check whether the advertised rate includes "AER", if it does the bank must apply interest to the account annually and compound it. If the rate does not state "AER" they are trying to be clever, by saving on the amount of interest paid out, but they lose a lot of goodwill. If, like me , you are credited interest on a bond that has not been compounded yet the rate advertised showed "AER" send an email to the complaints department and include a definition,ie, 'AER' means "Annual Equivalent Rate" and is a notional rate which illustrates the contractual interest rate (excluding any bonus payable) as if paid and compounded on an annual basis.