The New Top Easy Access Savings Discussion Area

janusd

pfpf said:

how are people getting on generally with Cahoot accounts? i have an original 5% SDS but when trying to open the simple saver some time ago it never linked to my online login account. i opened another which was accepted but again never appeared online.
i accept i never phoned cahoot but tried resolving via live chat and didn't get anywhere.

are you sure you used the same details as for your original account ? i've never had an issue opening new accounts (5 Sunny Days, at least 3 Simple Savers and a fixed bond all linked to the same login as my original current account with them) and they appeared within seconds of a successful application - though i've ensured the details used are always the same (especially email and phone)... I assume their systems find a match and assign it to the existing login - perhaps in your case, one of your application details was different and they created new logins each time ??

btw - as previously stated, Cahoot have confirmed that you can no longer close accounts via secure messaging. 

dosh37

janusdesign said:

35har1old said:

nottsphil said:

BigBlueSky said:

Bridlington1 said:

@soulsaver

Cahoot Sunny Day Saver Issue 4 at 4.5% NLA

Replaced by Cahoot Sunny Day Saver (Issue 5) at 5% £3k max

Can you hold this in addition to a previous issue?  I hold the issue 1 @ 4.75%

No, unless one is sole and the other is joint.
NB you can have more than £3K in it, it's just that interest is only payable on that slice.
I have a previous issue but it's too much trouble for Cahoot to tell me which one on my online console.
So, do I simply close my current one and open this one?

To close it appears you have to phone are write 

you can send them a secure message to close an account - i've done that without issue last year with a Simple Saver.

they may ask for you to confirm your address via another secure message, but once done, it will be closed within a couple of days... as others have suggested, it's easier to empty the account yourself first before closing to make things simpler at their end... and perhaps if receiving interest monthly, leave it for a month or two to ensure there is no lingering interest for them to pay.

on another topic, just opened that Kent Reliance account - all went smoothly and will make my initial deposit tomorrow once CoP works... I assume the £1k opening deposit has to be made in one go rather than a £1 test deposit and then the remainder afterwards ?

Re: Kent Reliance...

I made a £1 test deposit without a problem before making a separate deposit to make up the required £1000 minimum.

One thing to be aware of is that KR now make use of CoP for deposits. That means you need to wait at least 1 working day after opening a new account before making any deposits (otherwise the CoP check fails).

It's also useful to know that although KR and Charter Savings Bank are both owned by 'One Savings Bank', they have separate FRNs and hence separate £85K FSCS limits.

 

janusd

dosh37 said:

janusdesign said:

35har1old said:

nottsphil said:

BigBlueSky said:

Bridlington1 said:

@soulsaver

Cahoot Sunny Day Saver Issue 4 at 4.5% NLA

Replaced by Cahoot Sunny Day Saver (Issue 5) at 5% £3k max

Can you hold this in addition to a previous issue?  I hold the issue 1 @ 4.75%

No, unless one is sole and the other is joint.
NB you can have more than £3K in it, it's just that interest is only payable on that slice.
I have a previous issue but it's too much trouble for Cahoot to tell me which one on my online console.
So, do I simply close my current one and open this one?

To close it appears you have to phone are write 

you can send them a secure message to close an account - i've done that without issue last year with a Simple Saver.

they may ask for you to confirm your address via another secure message, but once done, it will be closed within a couple of days... as others have suggested, it's easier to empty the account yourself first before closing to make things simpler at their end... and perhaps if receiving interest monthly, leave it for a month or two to ensure there is no lingering interest for them to pay.

on another topic, just opened that Kent Reliance account - all went smoothly and will make my initial deposit tomorrow once CoP works... I assume the £1k opening deposit has to be made in one go rather than a £1 test deposit and then the remainder afterwards ?

Re: Kent Reliance...

I made a £1 test deposit without a problem before making a separate deposit to make up the required £1000 minimum. 

Good to know for future reference - I left it 24 hours (for CoP) before making the initial £1,000 deposit on Wednesday and received an email/sms 2 hours later stating it had been added to my account.

winkowinko

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

dosh37

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

Ditto.

I think my existing Sunny Day Saver (no idea what the issue no is) is paying 4.75%.

Should I close it and open a new one paying 5%?

Do you ever get the feeling that existing/loyal customers are being fleeced by over paid marketing managers?

Methinks 'Sunnny Days' are becoming 'Obscured by Clouds' (I seem to remember that was the title of a Pink Floyd album - probably back in the days before Cahoot marketing managers were even born).

allegro120

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

winkowinko

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

Archerychick

winkowinko said:

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

The terms do state you can’t hold two, but the system isn’t preventing it as things stand. I didn’t know this until after I’d applied for issue 5. I’ve currently got the previous issue with a few pence in and only issue 5 with a decent amount in. 

There is nothing to stop you opening the issue 5.

allegro120

winkowinko said:

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

 It's all done online.  The details you put in the application form (providing they are the same) will trace your ID, your account opens almost immediately, you get an e-mail and you can see it online.  Very straight forward, at least in my experience (I have 11 accounts with Cahoot).

winkowinko

allegro120 said:

winkowinko said:

allegro120 said:

winkowinko said:

So the Cahoot sunny day saver (issue 5) paying 5% is only available to new customers?

I have a sunny day saver with them (issue 2), but it's currently paying only 4.65%. Is there anything I can do about that?

it is available to all. Issue 2 pays 4.75% AER, which is currently a very good rate for instant access account.  I wouldn't close it. You should be able to open issue 5.  I have all issues (except issue 1 that has already served its term), I've never had problems with opening new issues whilst the older ones are still running.

Ah, fair enough.

I guess that I wrongly assumed that the below meant you can only have one Sunny Day Saver sole account, whereas presumably it means you can only have one of any particular issue?

• You can have a maximum of 1 sole account and 1 joint account per person.

They could of course just bump my interest back up to 5% to save me having to open a new account.

If I were to open issue 5, would I still have the same log in details? Would I need to wait for some kind of verification code to come through the post etc, or can it all just be done online?

 It's all done online.  The details you put in the application form (providing they are the same) will trace your ID, your account opens almost immediately, you get an e-mail and you can see it online.  Very straight forward, at least in my experience (I have 11 accounts with Cahoot).

Thank you. Took less than 5 mins to get it up and running, and all but £1 transferred over to the new account.