If you have a balance of £300 in a Merchant Jar with a 4.8% AGR, at the end of that day your spending power will have grown to £300.04 (£300 x 4.8% / 365 days). So you still have that £300 advance payment in the Jar, and the merchant has boosted your spending power with them by 4p.
Articles in this section
- What is a Merchant Jar?
- How do I open a Merchant Jar?
- How do I spend directly from my Merchant Jars?
- What is an Annual Growth Rate (AGR)?
- How do I share my Merchant Jar?
- Can I share my Merchant Jar with other app users?
- Can I remove a sharer from Merchant Jar?
- Can I convert advance payments and rewards in a Merchant Jar into cash?
- Is there a time limit on spending money in a Merchant Jar?
- Who decides the AGR and other merchant offers?