Cahoot 5.1%

newsmonkey

Looking for a new place to store my credit card stoozing money (ISA allowance used up).

A&L pay the best rate (5,35%), but for the amount I'm saving, it's actually better for me to go for Cahoot (5,1%) with the £10 cashback I get from Greasypalm for opening the account.

Two questions:

1. Existing customers. How's Cahoot for you? Efficient? What's customer service like? How slow are transfers to/from other banks? Is it truly online, or do you find yourself having to phone up for certain things?

2. I'm not an existing customer. If I sign up online for their savings account, will it be set up there and then? Or will they send me forms to sign, carry out credit checks (credit checks for a savings account?) etc etc.

Much appreciated,

Newsmonkey.

deemy2004

Cahoot

Good account - got it fixed in wifes name at 5.6% last June.

Yes you will need to sign forms... as is the requirement for ALL accounts.

Well okay comdirect the stock broker, never asked me to sign anything

klondyke

Never had problems with Cahoot, tho their website is not as intuitive as some:-)

Mr k and I both have saving accounts plus joint current ac with them. Have never used telephone helpdesk as everything can be done online including secure messaging which is usually answered fairly promptly. Transfers to/from external accounts typically take 3/4 working days, but transfer to internal accounts - savings/current/flexiloan is instant.

Yes you will need to sign forms and prove identity.

HTH