Cahoot 5.5%

System

Thats funny. Cahoot is listed as one of my direct debits in y current account (HSBC) but upon logging into Cahoot it says I have no variable direct debit setup ?

Whats going on ? Is it just cahoot being inefficient and slow ?!

carly

i received this email from cahoot after my account had been opened and DD set up.




Please note, it takes approximately 10 working days for your DD to be actually set up and until that time your account details will not be displayed in the deposit section of your savings account.

System

Thanks. Looks like I just have to wait then

Margaret_Millne

"Thank you for contacting cahoot.

To make deposits into your cahoot savings account you can use one of the following:

You can request a funding mandate from us. Once completed and set up, this will allow you to transfer money from the designated account using your current account 'Account Manager' page. We are only able to set up one funding mandate per current account.

You can pay cash and cheques in at most Post Offices or alternately cheques can be posted direct to our clearinghouse.

If you require prepaid envelopes (white) or deposit envelopes (green) please use your current account 'account manager' on your cahoot homepage. Please allow 5-7 days for delivery.

You can have funds paid in from an external account by supplying your bank with the following details:

- Sort code: 09-06-40
- Account No: 8-digit account number (This can be found on your cahoot homepage)
- Reference: Your name

You can request your wages are paid into your current account by giving your employer your cahoot bank details (as above)."

This is the very comprehensive reply I received from Cahoot, so it seems you can pay money in with internet banking from your own bank, before the direct debit mandate is sorted. I have just arranged to do this.

BigBelly

You can have funds paid in from an external account by supplying your bank with the following details:

- Sort code: 09-06-40
- Account No: 8-digit account number (This can be found on your cahoot homepage)
- Reference: Your name

Note - this sort code refers to cahoot current accounts, not savings accounts.

for example, my savings account sort code is 09-06-43

Margaret_Millne

Note - this sort code refers to cahoot current accounts, not savings accounts.

for example, my savings account sort code is 09-06-43

Oops, thanks for that BigBelly. Just going to check which sort code I used to set up a payment into the account at the end of the week. Lucky I didn't set it up to happen today.

System

"Thank you for contacting cahoot.

To make deposits into your cahoot savings account you can use one of the following:

You can request a funding mandate from us. Once completed and set up, this will allow you to transfer money from the designated account using your current account 'Account Manager' page. We are only able to set up one funding mandate per current account.

You can pay cash and cheques in at most Post Offices or alternately cheques can be posted direct to our clearinghouse.

If you require prepaid envelopes (white) or deposit envelopes (green) please use your current account 'account manager' on your cahoot homepage. Please allow 5-7 days for delivery.

You can have funds paid in from an external account by supplying your bank with the following details:

- Sort code: 09-06-40
- Account No: 8-digit account number (This can be found on your cahoot homepage)
- Reference: Your name

You can request your wages are paid into your current account by giving your employer your cahoot bank details (as above)."

This is the very comprehensive reply I received from Cahoot, so it seems you can pay money in with internet banking from your own bank, before the direct debit mandate is sorted. I have just arranged to do this.

The reply is taken from the Cahoot Help Pages and applies to the Current Account and not the Savings Account. You don't get the envelopes etc. with the savings account (afaik).

Cahoot don't seem very willing to provide help on their savings account.

Alex

ashmit

Just for info, my account is now up and running. I had no problem confirming my identity and address and i have now transferred my savings into it. Yay!

steeev

That's precisely what I said I don't think the .8% is worth the amount of information they want. (just as I don't think the measly amount Supermarkets offer is a good price for the information they gather on me.)

another point worth mentioning is even after giving them all your information, you are not guaranteed anything in return!

i just found this out when i rang up to enquire about my application. i was told that i had failed their internal credit check, which is based on the answers you give in their online forms, and even though i had passed their external credit check, they were declining my application. And on top of that they say you cant reapply for another 6 months!

so i have to agree with you huggy, its a bit of a gamble giving them all that personal information, with the possibilty of not getting anything in return.

lisyloo

I realise some of you value your privacy and that's fine, but can someone please tell me the acutal harm that might come to me through giving them my personal information.

Thanks