The Top Easy Access Savings Discussion Area

10_66

I'm still waiting for a promised call back.  For some reason Equifax couldn't verify my details, so I ended up having to make the application over the 'phone, then they wanted ID to be posted.  When I rang a few days ago to find out where it's all at, I was promised a call which has not materialised.  I'm surprised, as many years' ago I used to have a Cahoot current account as it paid interest and they were ok then.

Rollinghome

tonyduke said:

There are more problems with Cahoot than just the time it takes to access your funds online. Withdrawals are seriously restricted and they have problems with their use of the Royal Mail addressing system. When raising issues with their staff, they make no attempt to investigate the problems but instead defend their antiquated processes. Possibly they've been trained by their Spanish masters - and Spanish banks really are appalling!

It's good that their partner, Santander, has now brought in a new savings account with a much better interest rate. And they're both under the same FSSC £85,000 protection!

I will avoid Cahoot in future.

That's interesting, but what problems did you have?  Withdrawal limits seem to be £20k per transaction up to £100k a day/24 hr period.  I made a number of £20k transfers to Santander immediately after each other, and all arrived instantly.  There doesn't seem to be any way to adjust the transfer limit yourself, as you can with a Santander account, but those limits compare well with most banks.

I'd agree though that there doesn't seem any point to the Cahoot account now that a higher rate is available under the Santander brand. Particularly for those with a Santander current account, and as Cahoot and Santander share the same banking licence with an £85k FSCS limit shared between them.

liamcov

I'm getting confused with the monthly/annual interest on these accounts - which is better the Barclays Rainy Day or the Santander Easy Access Saver (both have monthly interest)?

2010

liamcov said:

I'm getting confused with the monthly/annual interest on these accounts - which is better the Barclays Rainy Day or the Santander Easy Access Saver (both have monthly interest)?

Hardly anything in it, but you only get 5.12% AER on balances up to £5,000 at Barclays.
You get 5.20% aer up to £250k with Santander.

masonic

Santander monthly option is 5.20% AER / 5.08 gross pa.

2010

masonic said:

Santander monthly option is 5.20% AER / 5.08 gross pa.

Thanks, I took out the annual rate and was thinking of the monthly rate instead of AER.

allegro120

gwapenut said:

How good are Mansfield at verifying identity electronically? I'm tending to find the smaller societies like Hanley and Furness a bit of a chore when opening accounts.

About 3 or 4 years ago I tried to open RS by post with them and my application failed because they couldn't verify my identity electronically.  They sent me a letter asking to visit a branch with the usual IDs so I've decided to give it a miss.  This year I opened 90 days notice tracker and it was smooth, no problems, so I gues they have inproved since then.

tg99

Is Secure Trust easy access issue 9 still at 4.65%? Do they tend to increase rates on older NLA issues when they increase the rate offered on whatever their available issue is?

Bridlington1

@soulsaver
Leeds Limited Issue Online Access Account Issue 49 (£1k min) now 4.75%
Chorley EA (1 withdrawal, £500 min) will return at 4.8%
Principality Double Access now 4.85%

25_Years_On

tg99 said:

Do they tend to increase rates on older NLA issues when they increase the rate offered on whatever their available issue is?

They have been known to increase rates on older issues and also not increase rates on older issues. Issue 7 increased when they released issue 8 but didn't increase when they released issue 9.