Cahoot savings rate reduction

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And don't forget the Birmingham Midshires Internet Easy Access (Issue 6) @ 4.95%

alared

M Harborough at 4.75%,they also guarantee to be .25% above the BoE rate until 30th Sept 2006

Snapelover

alared wrote:

Closed my account yesterday and got the following email this AM:

Dear *********

Thank you for contacting cahoot.

We've got your request to close your savings account. This has been started and will take around 10 working days to be completed.

We'll send you a letter once the account has been closed.

If you require any further assistance please do not hesitate to contact us again.

Kind regards,

I too have closed my account and received the same reply.
My Birmingham Midshires account is now up and running with no problems whatsoever. If the Cahoot closure goes to plan then it has been a completely successful transfer.:j

[Deleted User]

This still begs the issue of why it takes cahoot 'around 10 days' to close a savings account

Snapelover

Deleted_User wrote:

This still begs the issue of why it takes cahoot 'around 10 days' to close a savings account

And working ones at that.

Opposite when it comes to opening accounts.

derrick

Deleted_User wrote:

This still begs the issue of why it takes cahoot 'around 10 days' to close a savings account

So they can continue to earn interest on the interest they will not pay you until they "close" the account, then send the interest by cheque, it is blatant stealing in my book and I know of no other bank/BS that does this, if you close an account the interest is calculated added to the capital and paid out, but not Cahoot. they are holding £1800 of my money for 14 days then they will close the account and post a cheque, so by the time I have banked it I will have lost nearly a months interest on £1800.
I will never again bank with Cahoot.

alared

Anyone had their cheque with the interest through yet?

lisyloo

they are holding £1800 of my money for 14 days

Sorry if this is a daft question.
But why didn't you transfer the £1800 leaving £0 in your account?

derrick

lisyloo wrote:

Sorry if this is a daft question.
But why didn't you transfer the £1800 leaving £0 in your account?

Because the £1800 is interest and they will not add it to the capital like everybody else does

See my post #89

derrick

alared wrote:

Anyone had their cheque with the interest through yet?

Closed the account 27th April, received interest cheque today,5th May, capital was transfered 27th April via CHAPS, they would not add the interest to the capital