The New Top Easy Access Savings Discussion Area

flaneurs_lobster

happybagger said:

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

I've got a pair of these accounts, both maxed-out at £3k. They go over this each month when interest is paid but never for more than a day or so. Never had a warning email, maybe it's triggered after a number of days that I've never reached.

They are definitely not aggregating the account totals. 

Check any account details on the email, are they definitely referring to your account?

janusd

happybagger said:

So I have today had this email from cahoot

"We want to remind you that your Cahoot Sunny Day Saver does not pay interest on balances over £3,000. Currently you have a balance over this amount which isn't earning you any interest"

I have an issue paying 4.75% just under 3k

Following other people's comments saying they opened a different issue and got interest on both issues without a problem I did the same, so I also have the current issue paying 5%, just under 3k.

So... Where do they get "balance above 3k" from, are they aggregating the two?

If so, be aware.

any chance the balance might have been over £3k on one of them when the email was generated, e.g anytime within the last week etc ?
i've got 4 Sunny Day Savers with £3k in each - the only time there is ever more than that £3k in, is when the £12 monthly interest is paid but I transfer it to a Simple Saver within a day or two.

I have never received the email that you have.

Update: it appears I did get the email on June 12, but it was in my server's spam quarantine - it's just marketing to encourage other savings accounts to be opened with them, rather than a genuine subtle warning about having multiple sunny saver accounts.

happybagger

Never been above 3k in either and annual interest which therefore hasn't been paid to date

ccluedo

I received the same email last week. 

I had one account with full 3k and a second with £10. Both interest paid annually!
Knowing that the 3k account can't possibly go over until interest paid next year, I thought the problem must be the overall balance of 3010 so I withdrew the money from the £10 account leaving that one at zero.
Now, reading the above comments, I'm not sure why I got the email. 🤔

tightbloke61

The text messaging alerts have now been stopped by Cahoot/Santander recently, I wonder if this is why they have offered/ now sent an email? 

MarkFromCornwall

I had the same message and queried it.  This is their response:

"Thank you for your email regarding your new message. We sent this message out to a lot of our customers by mistake. Please ignore it. We do apologise for any inconvenience."

shirley999

MarkFromCornwall said:

I had the same message and queried it.  This is their response:

"Thank you for your email regarding your new message. We sent this message out to a lot of our customers by mistake. Please ignore it. We do apologise for any inconvenience."

Oh, too late for me, I just closed the older one, should have come here first!  It was not far off the end of its term anyway.  

friolento

MarkFromCornwall said:

I had the same message and queried it.  This is their response:

"Thank you for your email regarding your new message. We sent this message out to a lot of our customers by mistake. Please ignore it. We do apologise for any inconvenience."

Good to know us multi-account holders can relax, thanks for sharing. Hats off to Cahoot for admitting a mistake rather than providing a wordy excuse. 

I wonder whether they’ll send another email to clarify? 

flaneurs_lobster

friolento said:

I wonder whether they’ll send another email to clarify? 

Tricky call.

If they've got a record of exactly which customers were sent an erroneous email (which would mean a subset of all the warning emails sent since some will have been valid), then maybe.

A blanket email to all Sunny Day Saver holders apologising for an email which may have been sent, and if sent may have been in error would make them look even more incompetent and would probably generate even more traffic to their helplines than the original dodgy emails did.  

pecunianonolet

Cahoot

Is anyone else having issues with them closing accounts? Seems to be impossible and not sure if they are just incompetent or unwilling?

I sent a secure message asking them to close old accounts sitting at NIL balance for ages as the bonus rates expired so they are at a 1% interest rate. First time it was outright rejected with the instructions to call. Second time I provided them an exact list with account number and sort code of the accounts to close, confirmed my address and told them to pay any interest (the isn't any) to my nominated account on file. There is only one. 

Received a response saying the instructions aren't clear enough. 

1. I am sending a secure message, so I had to log into the portal passing security
2. I provided details of 3 accounts to close (I use the 4th one) with name, account number and sort code
3. There is only one nominated account from which they receive and send payments to
4. My address details as well as phone number and email address are on file as I provided them when I opened the accounts

It seems like any other bank or building society is able to follow instructions via secure message, except of Cahoot. 

If you managed to get them to do some work, how did you do it?