Spain HSBC Direct savings account?

I have an interest in saving some money in a high interest account with HSBC in your online banking account of interest. 3.00% interest is paid monthly and calculated on daily closing balance. Does that mean that if I put in $ 1,000 from the start October, how I get to the end of the first month? 3% of $ 1,000 is $ 30 so will the amount of $ 30 times the number of days of the month is 31? that would $ 930 if correct, but I'm probably an idiot so if someone can explain how I did actually want to know. thanks for reading. http://www.hsbcdirect.ca/1/2/3/

The 3% is per year. So $ 30 divided by 12 (months) is approximately $ 2.50 per month.