Cahoot 5.5%

crumpetman

Laminki, yes there is a telephone number BUT you can only open the ac online. They had problems with the sute all day and despite 4 phone calls i could not open the ac.

If you already have some form of account with them just login to that and use the "contact us" section to send them a message and ask them to open the special savings account for you. There is some problem with my cahoot online account which means it won't let me open any additional accounts so I used the contact us method and they emailed me back to say they are doing it.

Norman-B

Crumpetman, just done that! Thanks.

quinlanmd

Have any existing Cahoot members opened an account yet? I believe I may have done, having opened an account that suggests it's the highest rate variable rate savings they offer, but there were no specific T&C or confirmation of the deal at at any point - just a general Cahoot T&C page. I'm particularly keen to get a confirmation of monthly v. annual interest.

The additional T&C for the account were at the bottom of that general T&C page that flashed up during the application process.

Special condition 4.2: "Interest is calculated daily on the amount in your cahoot savings account at the end of each day (excluding any uncleared items) and will be credited to your cahoot savings account on the first anniversary of account opening, and then annually on that day thereafter."

No mention of any monthly interest option.

lswwong

I am an existing customer of Cahoot. Have current, credit card, and savings account.

Logged on to their website today and applied for the new savings account. Been accepted provisionally. I guess they will be checking up on my credit details soon - i.e. an email from Experian will alert me to this.

Think this account will work fine if one is content to receive the interests annually on account opening anniversary date i.e. you just need to wait one year for your dosh. So going by Martin's savings fountain, the cascading methodology might be updated like this:

1. Mini cash ISA;
2. CAHOOT introductory savings account ;
3. Halifax Regular Saver (might be closed to new business by now); and
4. ING Direct - most flexble of all 4 quoted here both in terms of access and regularity of interests payment.

Apologies if I got it wrong - just thinking off the top of my head - am at work.

bonecold1

The Derbyshire Regular Saver account is going to be 5.65% from 1/7/04 and so I would put that and the Halifax Regular Saver ahead of the new Cahoot account. I don't think ING @ 4.7% is really a factor anymore unless they increase their interest rates as Cahoot's two savings accounts are the top payers for monthly and annual interest from July.

Milarky

This account is Martin's Tip [did you get the email?]

kittengirl

Just opened cahoot account at 5.5%. Didn't deposit anything right away. Have Egg savings account paying 4.85% which is paid in October. Should I leave money there to net that rate first before moving it all to Cahoot or should I just transfer a small amount to Cahoot until Egg pays out?
Any ideas ... anyone?
Their no by the way is 0870 240 0829.

david78

kittengirl, you should move your money to the 5.5% account now. You will still get your interest due so far from the Egg account in October. From now 'till then interest will accrue on your savings in your new account (and will be a bit more).

In October, you can move the interest from Egg to Cahoot if you want.

bonecold1

The Cahoot account now listed on moneysupermarket.com so if anyone wants to apply for it via Martin's affiliated link and help keep this site free you can access it via the savings best buy link here.

http://www.moneysavingexpert.com/buys.phtml#DST

MSE_Martin

Actually it's also listed in my article (go to savings) but if you want a direct link to cahoot that helps the site then

http://www.moneyextra.com/mr/moneysavingexpert

takes you straight there and each click means some money comes to the site

martin