The New Top Easy Access Savings Discussion Area

allegro120

Aidanmc said:

Beeblebr0x said:

Opened a savings account with Cahoot but will have to wait for the unreliable post to receive two letters containing my login details.  I think I might just not bother funding it as I had the same experience with Santander and never received the letters.

Is it a common thing for banks to send login details in the post or do some use email?

Just opened a Cahoot sunny day saver last night, also have to wait on letters to get online access.Its common enough with banks to send temporary login passwords/codes in the post. Your personal ID number would have been in the account opening email though.

Never had a Cahoot account before, always thought they were app only for some reason.

Can anyone tell me if withdrawals are same day? What about withdrawals at weekends?

Withdrawals and deposits are instant 24/7 including weekends.

Bridlington1

@soulsaver

Snoop Easy Access Savings Account 1 4.6% (£1 min)

Also worth noting they currently have a £5 Amazon voucher refer-a-friend offer so could be worth seeing if you can find anyone with the Snoop app before grabbing this one.

Reminder do not use this forum to request/exchange referral links, the RAF offer has been mentioned purely on a ``for info" basis.

Chaykin

Never had an account with Cahoot. Anybody knows if they do a hard credit check for opening a savings account?

Aidanmc

Chaykin said:

Never had an account with Cahoot. Anybody knows if they do a hard credit check for opening a savings account?

I'm not 100% sure but i dont think savings accounts require hard credit checks.

Was very easy opening Cahoot, just need to wait on login details in post,

allegro120

Bridlington1 said:

@soulsaver

Snoop Easy Access Savings Account 1 4.6% (£1 min)

Also worth noting they currently have a £5 Amazon voucher refer-a-friend offer so could be worth seeing if you can find anyone with the Snoop app before grabbing this one.

Reminder do not use this forum to request/exchange referral links, the RAF offer has been mentioned purely on a ``for info" basis.

The app calculates and categorises your spending.  This month I've spent: 
Transport - £250 deposit on WestBrom RS
Eating out - £1 on Saffron SS and £50 on Saffron MLS
Home and Family - £250 on Coventry LSS, £1 on Coventry 4 access and £500 on Furness Christmas.

I don't need this and similar features, all I'm interested is 4.6%, but if I needed this I would be disappointed with such a breakdown of my spending

Beeblebr0x

@Chaykin

I've just opened a Cahoot savers account. They wanted to know how much my annual income is (money laundering?) but I don't recall seeing any reference to a credit check.

CuparLad

Bridlington1 said:

@soulsaver

Snoop Easy Access Savings Account 1 4.6% (£1 min)

Also worth noting they currently have a £5 Amazon voucher refer-a-friend offer so could be worth seeing if you can find anyone with the Snoop app before grabbing this one.

Reminder do not use this forum to request/exchange referral links, the RAF offer has been mentioned purely on a ``for info" basis.

I looked at this account earlier today when I saw it on Moneyfacts. It seems to be one that might qualify for a DYOR advisory. From the Additional Information section:

Your money will be held with Vanquis Bank Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

To provide the Snoop savings account, Snoop works with a partner called Bondsmith Savings Limited, which will manage the account for you behind the scenes. This means it will:

• arrange for any money you add to your account to be deposited with Vanquis Bank Limited 
• arrange for any withdrawals to be returned to you 
• calculate and add interest to your account in Snoop

Bondsmith is the trustee, and all money held in your Snoop savings account is held in trust for you (subject to the Snoop terms and conditions and the Savings terms and conditions).

allegro120

CuparLad said:

Bridlington1 said:

@soulsaver

Snoop Easy Access Savings Account 1 4.6% (£1 min)

Also worth noting they currently have a £5 Amazon voucher refer-a-friend offer so could be worth seeing if you can find anyone with the Snoop app before grabbing this one.

Reminder do not use this forum to request/exchange referral links, the RAF offer has been mentioned purely on a ``for info" basis.

I looked at this account earlier today when I saw it on Moneyfacts. It seems to be one that might qualify for a DYOR advisory. From the Additional Information section:

Your money will be held with Vanquis Bank Limited which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

To provide the Snoop savings account, Snoop works with a partner called Bondsmith Savings Limited, which will manage the account for you behind the scenes. This means it will:

• arrange for any money you add to your account to be deposited with Vanquis Bank Limited 
• arrange for any withdrawals to be returned to you 
• calculate and add interest to your account in Snoop

Bondsmith is the trustee, and all money held in your Snoop savings account is held in trust for you (subject to the Snoop terms and conditions and the Savings terms and conditions).

Snoop is part of Vanquis, they bought Snoop app about 2 years ago.

Bondsmith
"Both money deposited in cash deposits and money in the holding account is held on trust, for the benefit of the client. Money held in the holding account is deposited with HSBC Bank Plc. This means it is protected by the FSCS should that bank become insolvent. Should Bondsmith become insolvent any money in the holding account or in cash deposits is held on trust and safeguarded. The money is held in a segregated account that any creditors of Bondsmith cannot access. There is no limit to the level of protection through safeguarding, however some costs could be taken by the administrator if Bondsmith were to fail." https://www.aberdeenadviser.com/library/bondsmith-due-diligence-guide.pdf

exel1966

Chaykin said:

Never had an account with Cahoot. Anybody knows if they do a hard credit check for opening a savings account?

The clue is in the name of the account.

Chaykin

exel1966 said:

The clue is in the name of the account.

Yet great majority of banks do a hard check when applying for a current account with no overdraft/credit facilities - hence the question. Thank you for your answers.