Cahoot Closes 5.5% Acc.

alared

Cahoot will withdraw its market-leading easy-access savings account, which pays 5.5%, on September 2. The internet account guarantees the 5.5% rate for 12 months on balances of up to £50,000. The offer is closing earlier than expected because of high demand.

jaybee

I think they've already stopped accepting people. Two weeks ago I tried to open an account with them but was given a message (right at the end after spending ages filling all the details etc) that nothing was available! Most unfair! ???

Milarky

Well spotted alered  ;)

Was there something in the interest rate guarantee which suggested it might be more than 5.5%? Is it linked to the BOE rate, just in case that rate exceeds 5.5% [unlikely, now, I realise]?

alared

Martin did warn from the onset that it would be withdrawn within two months.
Can`t see them EVER increasing the rate now they`ve got a load of money.
Why should they when they know most people will leave well alone. INERTIA

Lopo

Just got the below from a cahoot email!

"Following the Bank of England base rate change on August 5th 2004, cahoot will be increasing the interest rate on your introductory rate savings account to 5.65% AER / gross p.a. on September 2nd 2004.

Remember, cahoot guarantees that for balances below 50,000 GPB the interest rate on the cahoot introductory rate savings account will not be less than 5.50% for 12 months from date of opening."

sly_dog_jonah

That's great news But I haven't got that email from cahoot yet, maybe it's stuck in the ether somewhere.

aliasojo

I've also got this account......and all I got was an email today telling me the interest rate on my Cahoot credit card was going up!

pin

I have cahoot with the 5.5% savings account, but have not had an email, does that mean i don't get the increase?

Lopo

Hmmm...How odd..!

Has nobody else received this email !!?!!?

I doubt it can be prefferential treatment, but it wouldnt surprise me either. Financial institutions are very sneaky when trying to entice people.

I have never used Cahoot before, this is the first time for me, the account has been opened very recently. Maybe that was a factor?

The email was received yesterday. Does not say much more than the rate info below, and a little on how to set up a standing order to make regular savings into the account.

Lopo,

Account balance GBP AER / gross p.a.
**************************************
Up to 49,999 5.65%
50,000 - 249,999 5.15%
250,000+ 4.65%

smartsaver

I had the rate increase email yesterday ;D, but so far have not been able to access the account . I sent second lot of utilities (they had aleady sent the first lot back to me but then advised they hadn't seen them :-/) today plus another signed form - but I won't hold my breath. Like many others this has been going on since June.

Murphy_The_Cat

i got a message on my cahoot homepage telling me that interest rates were going up and that i would be getting an email showing the new rates, 3 days later & i'm still waiting !

MTC