Cahoot online - biggest shake up since 1999.

PeacefulWaters

Djene wrote: »

I wonder what the likes of Cahoot, Intellegent Finance and St James' Place are wanting to happen. None accept new customers (apart from SJP savings accounts). Are they just waiting for every customer to leave so they can close down ?

IF are in managed wind down.

The EU required LBG to sell the brand, but nobody wanted to buy it.

So now they will just wait for it to die a slow death as old customers leave and no new customers join.

It's a great shame.

MABLE

planteria wrote: »

Santander already own Cahoot so they can just absorb...they aren't likely to sell the Cahoot customer base to another bank, are they?:think:

and if you don't need to borrow on the OD or CC MABLE, then why? you could be using accounts that make you some money:)

I have Lloyds, HX, Co op, MKS and Nationwide accounts.

System

The EC only required they sell off branches in England / Wales and either BOS or LTSB Scotland. LTSB Scotland become TSB and the non-Scottish branches werebolted on.

Lloyds never wanted IF and tried to package it off to the coop along with TSB to satisfy the EC.

PeacefulWaters wrote: »

IF are in managed wind down.

The EU required LBG to sell the brand, but nobody wanted to buy it.

So now they will just wait for it to die a slow death as old customers leave and no new customers join.

It's a great shame.

PeacefulWaters

Heng_Leng wrote: »

The EC only required they sell off branches in England / Wales and either BOS or LTSB Scotland. LTSB Scotland become TSB and the non-Scottish branches werebolted on.

The EU required market share reductions by product type too. Intelligent Finance became part of delivering this.

http://www.ft.com/cms/s/0/7995d23c-c86b-11de-a69e-00144feabdc0.html#axzz3cJgQpScm

Lloyds never wanted IF and tried to package it off to the coop along with TSB to satisfy the EC.

You just stated the EU didn't require it.

Eurosaver

barak wrote: »

Why "tough"? What's the point in staying with cahoot? :undecided

For paying in the odd cheque that I still receive. I'm not aware of anyone else that still provides pre-paid envelopes, and it's much easier for me to get to a post box than a bank or post office.

planteria

fair play if there's a specific use, Eurosaver.
and fair play to you too MABLE.. MKS? is that M&S Bank?
i have a fair selection of accounts too. but they are either 'keepers' that i want to retain, or are generating interest/reward/incentive. if anything were not of some use i would look to chop it in.

System

The EC is the commission and not the EU as an entity.

The commission never explicitly required the sale of IF; just market share etc. It was the Lloyds that proposed IF as it was going to offload IF and C&G branches anyway. The latter became TSB branches.

PeacefulWaters wrote: »

The EU required market share reductions by product type too. Intelligent Finance became part of delivering this.

http://www.ft.com/cms/s/0/7995d23c-c86b-11de-a69e-00144feabdc0.html#axzz3cJgQpScm

You just stated the EU didn't require it.

EarthBoy

Intelligent Finance has been a dead duck for years. Even the Co-op didn't want it when they proposed to buy the branches that Lloyds had put up for sale.

MABLE

planteria wrote: »

fair play if there's a specific use, Eurosaver.
and fair play to you too MABLE.. MKS? is that M&S Bank?
i have a fair selection of accounts too. but they are either 'keepers' that i want to retain, or are generating interest/reward/incentive. if anything were not of some use i would look to chop it in.

Yes I meant Marks and Spencer. I was reverting back to my share holder days when I owned share in them.

planteria

with you MABLE.

EarthBoy wrote: »

Intelligent Finance has been a dead duck for years.

which is a shame. the offsetting concept was great for us stoozers. and Current Account mortgages such as TheOneAccount were supposed to be the future...but have pretty much disappeared:(