Cahoot account transactions messed up?

rocking_horse

I logged on to see my overdraft had been removed from the account causing a couple of DDs to bounce. They admit it was a mistake and have said that it happened to a few others too. The overdraft has been reinstated. A charge will be applied which I will have to reclaim.

Martinslovechild

I don't know what's going on with Cahoot recently. Now that their system has been fully migrated to Santander's servers, the quality of their website seems to have taken a turn for the worst.

My Dad complained that after their September update, he logged in and was able to view somebody else's account details.

Standing Orders now don't go out until the second payment (e.g. set up a weekly recurring standing order starting on the 1st, then the 8th, 15th etc and the payment on the 1st doesn't go out - only the ones from the 8th onwards). Cahoot told me that "this is how the system works now".

Half the time when I log in, a red message appears suggesting that the site is being updated and I should try again in 5 minutes. If I refresh (F5) the browser, my account details appear - go figure!!

As others have commented, website performance is miserable. It sometimes takes ages for some of the pages to load. It never used to be so sluggish.

It's no wonder that they removed the 'Apply Now' buttons for all products on the Cahoot website. I wouldn't be at all surprised if Cahoot accounts were rebadged as Santander during 2011 just like Alliance & Leicester current accounts were in 2010.

Jaymo

cahoot wont be eaten up by Santander. They are remaining open as an independant bank but are having to integrate into their systems.

I have worked at a bank before, and it can take months for the full integrated to take place because banks seem to have departments all over the world that deal with seperate issues.

Thinking of switching my current account from nationwide to santander but still undecided at the moment.

pqrdef

The word is that cahoot will be merged into Santander's international internet bank, called OpenBank. Remains to be seen whether this is worth hanging on for.

tightarsey

Just received my Credit Card Statement on the 15th January 2011 - 4 days late.
I used to get my statement email at 18.09 on the 11th Every Month like clockwork. This allowed me to make transactions on the 10th late on, knowing that they would appear on next months statement giving me the maximum interest free period. I have another card which I then use from the 22nd of each month, so always get the maximum interest free period.
In October the statement was a day late
In November the statement was a day late, the consequence being transactions made on the 10th and 11th then were immediately payable by the 24th of that month.
This month it even includes transactions on the 12th and 13th, 14th which are now payment on the 28th of January 2011.
The amount due is now £400 more than it should be because I'd bought my car insurance on the 11th January thinking I'd get the maximum interest free period, then due at the end of Feb. Worked out that if they take payment on the 28 Feb 2011 next month the maximum interest free period is only 44 days. I pay off the card every month like clockwork - whatever the amount.
My t&c states 46 days!, when it appears the maximum next month now achieveable is 44 days.

Seems like Cahoot are gathering up any payments in the system and then delaying the statement a few days to include them. I'm going to switch payment from full to the minimum and request a refund of interest for this month, possiblly next-when I switch to full payment again.

tightarsey

Spoke to a Manager in the Cahoot credit card team today, and given some rubbish that described that a new 'statement window' applies - ie. they can vary the day of your statement to any date they wish, and the payment date is 15 days from that date. The card is no longer has a 46 day interest free period, but 'upto' 46 days, ie a maximum of 46 days.

I quite firmly stated that this is a change to my terms and conditions which she assured me it wasn't. So pulled out the terms and conditions, and low and behold, statement date, and statement period are defined pretty much in black and white. (and she lied to me so convincingly too-scary how well they've even convinced themselves)

Have requested that I pay part of the balance of my account less the 4 transactions that have appeared on my statement since from the 10th and that no interest is payable this month (or next) when I switch back to full payment.

Pulled this from the Cahoot General terms and conditions
http://www.cahoot.com/terms/pdf/terms.pdf

Bottom of Page 2 of 24
statement date means the date you receive (electronically) your cahoot credit card account, cahoot flexible loan or cahoot current account statement.

Top of Page 3 of 24
statement period means the period commencing on your statement date and ending on the preceding date in the following month. For example, if your statement date is the 10 January the statement period will end on the 9 February.

So if you have transactions on your account after the normal payment date, you have probably being paying too much interest on your credit card. This change came about in September, when Cahoot changed over the systems (to Santander I assume)

If you have suddenly received a large monthly bill (as I did) as a result of transactions after your statement period appearing on this month's bill (which should have appear on next months). As for interest in the next month to be removed, as compensation for the mistake.

byebyedebt

Cahoot was a great bank until Santander got their hands on it.