The Top Easy Access Savings Discussion Area

gt94sss2

happybagger said:

I have the Cahoot Simple Saver showing at 4.90% not 5.12%. Yes it is annual interest (monthly is 5.00% gross anyway) so I don't know why it shows as 4.9%. It is still being advertised at 5.12% online too.

There are two issues of the Cahoot Simple Saver.

Issue 1 was at 4.90%. This is NLA.

It was replaced by the current issue 2 which offers 5.12%

You may want to open the newer account.

You can have both running at the same time, though I imagine no-one will want to keep money in at 4.9% when 5.12% is available 

happybagger

Fair play I hadn't spotted that, looking at cahoot "rates and fees" page it only shows the 1.2% account. To find the NLA account's rate you need to go to "previous rates" (even though it's a current rate)

BooJewels

I've just managed to open an Issue 2 Cahoot Simple Saver - which pays 5.12% AER and 5% monthly.  As mentioned, you can't seem to open it whilst logged in, but I did do from the main web page and as soon as I logged in again, it was there - already moved money across - email confirmation arrived whilst I was doing that.

happybagger

Same. Initial deposit from Santander was, as expected, instant. Nowhere allowed closing the old Issue 1 though, presume a secure message is the way to go, but could withdraw across to zero balance, Interest capitalisation would have been nice.

I now have a ruck of (currently) 5% IA accounts to chase in the coming months as rates inevitably edge downwards,

janusd

happybagger said:

Same. Initial deposit from Santander was, as expected, instant. Nowhere allowed closing the old Issue 1 though, presume a secure message is the way to go, but could withdraw across to zero balance, Interest capitalisation would have been nice.

I now have a ruck of (currently) 5% IA accounts to chase in the coming months as rates inevitably edge downwards,

secure message would be the way to close it (suppose you could call them) - but i've kept my Issue 1 (monthly interest) open with £1 in it - just as another future option should the Issue 2 rate decrease before its expiry... my Issue 1 is only going to be around until the start of August - at that point, it will be converted to the default savings account and i'll close mine then.

The_Groat_Counter

Hi all, a simple question...

Does a Cahoot instant access savings account offer the facility to set up standing orders?

Many thanks.

janusd

The_Groat_Counter said:

Hi all, a simple question...

Does a Cahoot instant access savings account offer the facility to set up standing orders?

no it doesn't.

friolento

The_Groat_Counter said:

Hi all, a simple question...

Does a Cahoot instant access savings account offer the facility to set up standing orders?

Many thanks.

Afraid not, no

Section62

Ford Money reducing their Flexible Saver rate to 4.6% (from 4.85%) effective 21 February 2024. (The gross/annual rate)

jaypers

I currently have a number of EA accounts paying 5% plus such as Santander, Charter and Tandem. Would it be worth also opening a CAHOOT account in light of a number of institutions starting to reduce rates, just to keep a few options open? Also see I can put £3k in their Sunny Day Saver, paying 5.2%. Just interested in peoples views on this. Thanks.