Question about ING interest monthly

[Lorix2]

One month my kids earned .51 and the next .48 on a balance that did not decrease. I did not deposit to their accounts last month, so the balance hadn't changed. The interest has gone up 2x now, so why is that?

Has anyone else noticed this?

[4fordisney]

We've had ours less than a month, so I have nothing to compare it to.

Could it be the difference in interest has to do with a shorter month?

[disneychrista]

I think what to previous poster said is correct if you are comparing January with 31 days vs February with only 28 days I think that would be the difference between the two amounts.

[Lorix2]

That could be, I forgot it was compounded daily :rolleyes:

Thanks :wave2: