2nd cahoot bonus savings interest reduction

Kazza242

djblamire wrote:

Just spoken to someone else who tells me it DOES apply

Anyone else had any luck getting correct info from them ?

I've sent them an e-mail to ask them.

Thanks
Daniel

I've already posted the e-mail I received from cahoot, regarding the Introductory Savings Account rate cut to 4.55%* (*for balances up to £50K). It is post 3 on this thread. From the 28th April, both the Introductory savings account and the normal Cahoot savings account will have their respective rates reduced to 4.55%*.

Here are the significant parts of the cahoot e-mail:

"Dear xxxxxxxx,

I am writing to let you know that we will be changing the rate on your cahoot savings account to 4.55% AER on 28 April 2006*. Since we launched the introductory rate savings account, it has been one of the best in the UK. In fact, we were able to maintain this market-leading rate for over 20 months, despite a rate guarantee of only 12 months and the reduction in the Bank of England base rate in August of 2005.

Yours sincerely,

cahoot

*The introductory savings account interest rate from 28 April 2006 will be:
Account balance GBP Gross p.a. /AER
Up to 50,000 4.55%
50,000 to 250,000 4.05%
250,000 + 4.00%

The introductory savings account interest rate as at 22 March 2006 were:
Account balance GBP Gross p.a. /AER
Up to 50,000 5.00%
50,000 to 250,000 4.50%
250,000 + 4.00%"

If you look at the rates they've referred to at the bottom of the e-mail, they specifically mention what the "introductory savings account interest rate" was on 22 Mar 06 (5.00%) and what it will be on the 28 April 2006 (4.55%).

ManAtHome

ManAtHome wrote:

I have an ordinary savings account and the introductory one - received the 30th March email about the ordinary account, but nothing (yet?) for the other one.

Hah - spoke too soon, just received the email (perhaps they're hoping we've all gone away for the weekend?

Wonder when the exciting new mortgage offers are coming...

djblamire

The only e-mail I have received has the subject:

"Important changes to your cahoot savings account"

Doesn't mention the introductory account - Although the previous comments do make sense. Looks like its time to look elsewhere....

Thanks again
Daniel

Swipe

Still no email here

[Deleted User]

Swipe wrote:

Still no email here

What about a secure message to your cahoot account page, as follows?

'Changes to your cahoot savings account. We have sent you an email about your cahoot savings account. This email has been sent to xxxxxx detailing important information on your account. If you did not receive a copy of this email, please email us through the 'contact us' section of your personal homepage. Please also check that your contact details are up to date in the 'change my details' section above.'

Swipe

Just got the email now time to transfer £25k to A+L Online saver Issue 2 (with Bonus) and the other £25k I'll have to have a think about.

EDIT: Just opened a first Direct e-savings account @ 5%. This is probably my best bet with me being an HSBC customer (I believe you get instant same day transfers) and pays more than the HSBC online saver @ 4.75% and only needs £1 min opening balance rather than £500 (but still subject to the no interest on the balance for the calandar month when a withdrawal is made penalty).

Zwicky

djblamire wrote:

Just spoken to someone else who tells me it DOES apply

Anyone else had any luck getting correct info from them ?

I've sent them an e-mail to ask them.

Thanks
Daniel

It definitely does apply to the introductory accounts opened in 2004 but there is a second introductory account (referred to as a bonus savings account) which was available between Sept 2005 and Jan 2006 which pays a .75% bonus for the first six months from opening (5.25% gross or 5.15% for monthly interest) then .25% for 3 months and this therefore is not subject to the rate reduction.

Zwicky

caveat_emptor wrote:

Bradford and Bingley are offering internet savings account @ 4.85% but I have a nasty feeling that it won't be for long now that Cahoot rate is down.

The B and B 4.85% account has a base rate +0.25% guarantee until June 30th 2006 so I agree that the rate wiil drop in 2 months.

Birmingham Midshires (https://www.askbm.co.uk) has a rate of 4.9% including a bonus of 0.6% for twelve months from opening.

derrick

sallysaver wrote:

FAO Derrick

You can contact Cahoot on 02476-627190 instead of o845******** and has worked every time for me. Good Luck - Sallysaver

Thanks for that, I did know about it and use it, my post was to highlight the fact that they are increasing the phone call costs to the people that are not as savvy as people on here as well as dropping the rate, a sort of double whammy

kenshaz

sallysaver wrote:

FAO Derrick

You can contact Cahoot on 02476-627190 instead of o845******** and has worked every time for me. Good Luck - Sallysaver

Why not put this number on the https://www.saynoto0870.co.uk