Cahoot 5.5%

johnllew

Another quirk I've found is that direct debit to the cahoot credit card is not called from a bank account until the day after it is credited by cahoot. [eg 'collection' for the 7th, but called from bank on the 8th] So you get an extra day's interest from them....

If you are paying a Cahoot credit card balance by direct debit from your Cahoot current account, the gap can be greater (between 2 and 5 days IME) although the amount is credited to the credit card card account on the correct date. Nice little earner.

Gotabiscuit

On using a direct debit as a means to fund the account: It needs to be borne in mind that it takes 4 working days from the request to pay money into cahoot.

That's if they set the direct debit up properly in the first place!

After a promise to put mine right (which then wasn't) I gave up and used BACS to pay in instead.

alared

Having taken four weeks to set my account up I then waited a further two weeks for them to set up the DD.
At the beginning of the third week I rang to enquire what the hold up was only to be told "we can confirm that no DD has been set up".
No explaination of what they had done with it or even an apology.
They sort of hinted that I never sent it in the first place!
I have never come across a more incompetent lot of "*bankers" in in my life.

Lopo

Have put this in another post also, but better suited here - just received in a cahoot email...!

"Following the Bank of England base rate change on August 5th 2004, cahoot will be increasing the interest rate on your introductory rate savings account to 5.65% AER / gross p.a. on September 2nd 2004.

Remember, cahoot guarantees that for balances below 50,000 GPB the interest rate on the cahoot introductory rate savings account will not be less than 5.50% for 12 months from date of opening."

ED

5.65% AER/gross from Sept 2nd seems to keep Cahoot ahead of the field rate-wise for instant access online saving.

But, like other existing customers here, I've had no joy in actually opening the account launched in June and closing for newcomers on Sept 2nd.

ED

MoneyFacts listing of best-buy Internet Accounts suddenly excludes Cahoot, as I write.

Top of MF's chart is Northern Rock, offering just 0.01% more than Birmingham Midshires 5.40%.

Anyone here know if Cahoot have arranged to stop promoting their 5.50% AER/gross a/c, 9–10 days before it closes for new applicants?