Cahoot savings rate reduction

Snapelover

Zwicky wrote:

Try Birmingham Midshires ( https://www.askbm.co.uk ) 4.90% including a .60% bonus for 12 months from opening.

Thanks for that Zwicky - just opened my account and have been accepted. Once I'm up and running that will be another customer that Cahoot has lost as I will be closing my account too.

It's a cruel world.:D

derrick

Prudent wrote:

Sorry back again. Quick query. My account was opened in the July. What happens with the interest if we close now. Do we get the interest now or have to wait until June?

If you close the account, interest will be paid with the capital, up to but not including day of closure/withdrawal.

Stompa

frankie wrote:

Don't see the point of leaving the Cahoot account open. You can bet your life that any new intro rates will apply to NEW customers only!!

Not necessarily true. When they introduced the bonus savings account I was already a customer. And because I was already a customer I was able to open that account with the minimum of fuss.

Stompa

alared

Anyone know how long it takes for the money to be transferred to another account?

If closed on this coming Tuesday, via BACS I would imagine, when would it get to the other account,Thurs or Fri ?

Snapelover

alared wrote:

Anyone know how long it takes for the money to be transferred to another account?

If closed on this coming Tuesday, via BACS I would imagine, when would it get to the other account,Thurs or Fri ?

There's no hurry as the change does not take affect until 28th of the month.

Kazza242

alared wrote:

Anyone know how long it takes for the money to be transferred to another account?

If closed on this coming Tuesday, via BACS I would imagine, when would it get to the other account,Thurs or Fri ?

BACS transfers from Cahoot take 3 working days to arrive i.e. a transfer made on a Tuesday would arrive on Friday.

Deemy

Cahoot is easy to transfer to and from online

Boohoo...... 5.3% to 4.55% in the wink of an eye

Time to start extracting cash out of cahoot

Milarky

alared wrote:

Anyone know how long it takes for the money to be transferred to another account?

If closed on this coming Tuesday, via BACS I would imagine, when would it get to the other account,Thurs or Fri ?

There is an alternative if you have cahoot's current account of taking £500 a day from LINK only machines (which are free) for immediate use/paying in elsewhere. You transfer the cash to the c/a beforehand of course. BACS payments may be a day less from c/a compared to s/a also, but don't quote me on that

thor

Regretfully my money will have to find a new home too. However I will wait a while before transferring as they have been good to me by not immediately removing the introductory bonus for many months when they could have. This had meant that I had an account which has been paying out between 5.65 and 5.30% for over a year and a half. No one else comes close to that so I won't be shifting my loot at least until the middle of May.

Snapelover

thor wrote:

Regretfully my money will have to find a new home too. However I will wait a while before transferring as they have been good to me by not immediately removing the introductory bonus for many months when they could have. This had meant that I had an account which has been paying out between 5.65 and 5.30% for over a year and a half. No one else comes close to that so I won't be shifting my loot at least until the middle of May.

The same applies to me in that they kept the introductory rate going but alas it's a tough world out there and I'm moving mine asap - after all, I'm only a name on a piece of paper to them.