how to fund cahoot

ive got an email with their sort code and acc no  but not sure what to put as the reference  , dont want to make a mistake, anyone know the funding instructions for cahoot savings?

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  • refluxer
    refluxer Posts: 2,539
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    edited 15 November 2023 at 2:19PM
    If the sort-code and account number are personal to you (and not generic details for the bank), then it won't matter what you put as the reference. 

    I don't have a Cahoot Simple Saver account myself but, as the T&Cs say...

    "How to pay into the accountWhen you’ve opened the account, we’ll send you a sort code and account number you can use to pay in"

    ...that suggests to me that that is all you need which isn't too surprising as that is how Santander operate, too.

    Sending yourself a small test payment is often a good idea with any new account although this may not be necessary if Cahoot are part of the Confirmation of Payee scheme, as your bank (if they also participate) should check the name and account number matches.
  • penners324
    penners324 Posts: 2,603
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    Aren't Cahoot's rates are now awful. Santander have basically abandoned the brand
  • Bridlington1
    Bridlington1 Posts: 2,144
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    edited 15 November 2023 at 4:30PM
    Aren't Cahoot's rates are now awful. Santander have basically abandoned the brand
    Cahoot currently offer 5.12% on their Simple Saver. It's not the best rate on offer at the moment but is still one of the highest EA rates out there.
  • tiger135
    tiger135 Posts: 416
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    Thanks still waiting for the second letter to give me login access.
    Aldemore was quicker to be honest.

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