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Cahoot status ?

martin177
martin177 Posts: 48 Forumite
Part of the Furniture 10 Posts Combo Breaker
in Savings & investments
Hi
I have a Cahoot 2 year bond (at 4%) maturing the end of this month and have been looking for a similar 'follow on' product.
Strangely Cahoot are not advertising any new savings accounts of any kind.
Are they winding down and will eventually become just Santander ?
Anyone know what is going on there ?

Thanks
«1

Comments

  • grizzly1911
    grizzly1911 Posts: 9,965 Forumite
    martin177 wrote: »
    Hi
    I have a Cahoot 2 year bond (at 4%) maturing the end of this month and have been looking for a similar 'follow on' product.
    Strangely Cahoot are not advertising any new savings accounts of any kind.
    Are they winding down and will eventually become just Santander ?
    Anyone know what is going on there ?

    Thanks


    I had one earlier in the year and it was the same as you describe. I declined the offer to place it in a a low I/R basic deposit account.

    There is always the 123 account x 2.
    "If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....

    "big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    I think they're keeping it so when they take over TSB they'll have something to divest to keep the regulators happy.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • CKhalvashi
    CKhalvashi Posts: 12,134 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    pqrdef wrote: »
    I think they're keeping it so when they take over TSB they'll have something to divest to keep the regulators happy.

    That is a good point, actually.

    IMO, 123 account x2 may be a good idea.

    CK
    💙💛 💔
  • planteria
    planteria Posts: 5,322 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    there aren't many good savings options around, that is clear..

    don't hold your breath for Santander to absorb TSB though:D
  • CKhalvashi
    CKhalvashi Posts: 12,134 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    planteria wrote: »
    there aren't many good savings options around, that is clear..

    don't hold your breath for Santander to absorb TSB though:D

    I've heard rumour (from a credible source) that it may be a bank listed on the FTSE 250 (and also listed in the country of origin).

    I have, however, been sworn to secrecy.

    CK
    💙💛 💔
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    CKhalvashi wrote: »
    I've heard rumour (from a credible source) that it may be a bank listed on the FTSE 250 (and also listed in the country of origin).

    I have, however, been sworn to secrecy.

    CK
    Although the rather small number of banks on the FTSE250 rather narrows it down.

    Is Georgia on your mind?
  • Reaper
    Reaper Posts: 7,355 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    opinions4u wrote: »
    Although the rather small number of banks on the FTSE250 rather narrows it down.

    Is Georgia on your mind?
    :rotfl:

    I rather like their HQ
    http://en.wikipedia.org/wiki/Bank_of_Georgia_headquarters
  • CKhalvashi
    CKhalvashi Posts: 12,134 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Reaper wrote: »
    :rotfl:

    I rather like their HQ
    http://en.wikipedia.org/wiki/Bank_of_Georgia_headquarters

    I prefer the building for the border crossing at Sarpi :)
    💙💛 💔
  • Onawingandaprayer
    Onawingandaprayer Posts: 642 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Any idea how soon the interest is added on this a/c? Got a 2 year Cahoot bond ending today - Oct 1st - and nothing added yet.

    Ta
  • erb
    erb Posts: 547 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Onawingandaprayer wrote: »
    Any idea how soon the interest is added on this a/c? Got a 2 year Cahoot bond ending today - Oct 1st - and nothing added yet.

    Ta
    Interested in what options Cahoot gave you on maturity of their bond. I have a 1 year bond maturing on 1st Nov and when I took it out they said money will be transferred to an instant access account but no information given on the interest rate or how to withdraw the money.
    Regards
    erb :)
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