Another Competitive Account Bites The Dust ....

mary

Well I just opened the 5% First Direct last week with a view to transferring the £15K from Lloyds TSB Plat, as I was just over the edge of £50K with Cahoot in the original 5.3%. The 5.25 account is holding the mortgage repayments which we can't pay off because of penalties until September and didn't want to get the two monies merged. Am waiting for the FD account numbers to come through, probably tomorrow and then transfer the £15K to FD. Does anyone know when they last changed their rates? Otherwise it'll be on the move again.

KTF

I havent had an email from them yet. Whats happening with the high interest account that you could only open for a few months a year or so back?

mary

I've just been on my Cahoot account, and there's no message from them yet.
Do you mean the 5.65% Introductory account which was open for a couple of months in 2005? It's now 5%

KTF

Yes, thats the one. Shame its dropped to 5%. Time to consider the alternatives (which is a real shame as I like Cahoot).

strawberrylane

Mary, your introductory account will drop from 5% AER to 4.55% AER on 28/04/06.

Deemy

strawberrylane wrote:

Mary, your introductory account will drop from 5% AER to 4.55% AER on 28/04/06.

Noooooooooo !!!

Its temporary !!! :mad:

Daft_Monkey

Savings rates are being reduced left, right and centre. Cahoot was very sneaky with the rate reductions. I was only aware of the reduction around August to 5.3%. It was only today that I found that the rate was reduced further to 5% and by the end of the month down to 4.55%. I had a look at the A&L website earlier and the Direct ISA of 5.2% has been replaced with a 4.5% one.
Nationwide reduced the rates of their e-saver and bonus saver accounts.
I'm not a happy monkey! :-)

Stompa

mary wrote:

Well I just opened the 5% First Direct last week

The real downer with that account is the: "instant access to your money* (although no interest is paid on the full account balance in any month you make a withdrawal)"

Stompa

[Deleted User]

Deemy wrote:

Noooooooooo !!!

Its temporary !!! :mad:

Meaning?

pkrnts

So where is the most competitive now? I don't like FD terms, I don't really want to be a part of ICICI so in all honesty Cahoot will still be one of the best won't it?