cahoot - quickest method to transfer-in £'s

System

has anyone received pay-in slips for payment direct into a cahoot savings account?

I was under the illusion that any payment made to the savings account had to go through the current account first. ???

ED

Judi – cahoot Head Office informed me to transfer-in to IR Savings a/c (eg via BACS) from my external a/c's with other banks & bdg soc's. Hopefully, folk here will confirm they've done that without hitch. (Otherwise I've written a lot of letters of instruction for nothing…+ been online arranging imminent transfers.)

Katys_Grandad – methinks I'm not the only one here who will follow with interest your monitoring of future deposits via cheque, etc. Um, not cleared Friday, cleared Saturday…perhaps cahoot updates overnight. Anyone here in the know?

Also, I'm wondering whether deposits (via DD, BACS or CHAPS + other methods, if allowed?) take different amounts of time according to which type of cahoot a/c they go to from external sources.

Callyanna

I transferred money from my current Barclay's account to my Cahoot savings account via CHAPS yesterday morning (cost me £20). The cashier took ages finding then filling in the correct forms, had to get it checked by a colleauge, corrected mistakes she'd made and got me to countersign them..what a palaver! However the transfer did appear in my account when I checked online last night so it obviously worked!

pennymakespounds

curious as to why you'd want to pay £20 to do a chaps ... a bacs transfer only takes a couple of days .. and is free ??

System

Judi – cahoot Head Office informed me to transfer in to IR Savings a/c (eg via BACS) from my external a/c's with other banks & bdg soc's. Hopefully, folk here will confirm they've done that without hitch. (Otherwise I've written a lot of letters of instruction for nothing…+ been online arranging imminent transfers.)

So is the sort code you use for the current account, the one you use for your savings account? If it is, i might just test it with £1.

Katys_Grandad

The sort code and account number can be obtained from the Cahoot website.

I have a current and savings account with Cahoot as does my wife. We have never been sent pay-in slips for anything other than the current accounts. To be fair to Cahoot, transfers from the current to the savings account tend to be immediate but it seems that Cahoot don't want payment through the post or at the Post Office directly into savings accounts.

I think it is possible to do a transfer on-line to the savings accounts from another bank though.

mary

I carried out the following withdrawals, but can't tell you what time of day I did them:

Leave Cah Aug 17 Arrive Lloyds Aug 20
Sept 7 Arrive Lloyds Sept 10
Sept 8 Arrive Lloyds Sept 13
Sept 8 Arrive Lloyds Sept 13
Sept 8 Arrive Ing Sept 13
Sept 27 Arrive Lloyds Sept 30

I just have their IR Savings Account, go to One off
withdrawals, put in the sort code for the different accounts and that's all.

Paying in to Cahoot Savings account, the code I use
is 09 06 43.

No problems with either paying money or taking it out.

Probably someone can enlighten me. I stock pile my money in Cahoot, send it via Lloyds on its way to repaying the Credit CArd minimum payments. With potentially 4 days from Cahoot to LLoyds and another 4 days ish on to wherever, there seems no way to avoid a weekend somewhere in that scenario, or am I missing something?

Milarky

I just have their IR Savings Account, go to One off withdrawals, put in the sort code for the different accounts and that's all.

Brilliant mary! You have answered my own question and your own

Probably someone can enlighten me.  I stock pile my money in Cahoot, send it via Lloyds on its way to repaying the Credit Card  minimum payments. With potentially 4 days from Cahoot to Lloyds and another 4 days ish on to wherever, there seems no way to avoid a weekend somewhere in that scenario, or am I missing something?

To use the same One off withdrawals facility [which I should have known about!  :P ] to make payment direct from cahoot to your credit cards you should just put in the following

Bank a/c number for Credit Card

Eg for MBNA this would be '70328725'

Sort Code for a/c for Credit Card

Eg '08-61-30'

Credit Card a/c number [16 digits] as 'reference'

Eg '4916 3456 0976 3101'

[This is known as making a 'Bill Payment' - and I assume your minimum payments are set up by Direct Debit from your Lloyds account - otherwise you could be making direct payments to the cards in this way straight from the cahoot account. DDs have definite advantages of course - they handle payment for you and you cannot make a late payment this way. But when making larger payments - eg paying off balances, the old 'BACS' method is very convenient I find]

Other fields are optional but you should be able to set up advance-dated payments as well.. I will certainly now be leaving the cash in cahoot a little longer as a result of your most helpful description - and I hope you too will be able to take of advantage of the cahoot I/R in this way  :D

Thanks again..

System

I just have their IR Savings Account

I know its going to be obvious to anyone with half a brain cell but i must have a quarter of one, cause i dont know what IR is. ???

mary

So is the sort code you use for the current account, the one you use for your savings account?  If it is, i might just test it with £1.

I just have the IR Savings Account and pay in directly from my Lloyds account. The sort code I have is
09 06 43