The New Top Easy Access Savings Discussion Area

dosh37

Bridlington1 said:

janusdesign said:

HHUK said:

Bridlington1 said:

Additionally I've just had a bit of a play around with it and it's let me upgrade two old easy access accounts I hadn't got round to closing to sunny day savers so I've ended up with three sunny day saver issue 5s at 5%.

Cahoot Sunny Day Savers

Many thanks for this. I've theoretically upgraded three of my accounts. I note it still says one is allowed a maximum of one sole and one joint Sunny Day Saver. Do we know how this works in practice, please?

I think the general opinion here is that we considered they meant one per issue (or 2 if including joint) - but that was before this upgrade option was available, so I assume they don't mind / care / know.

I now have 5 x Sunny Day Saver (Issue 5) - I upgraded an Issue 4 @ 4.5%, and Issues 2&3 @ 4.75%, plus the Simple Saver (Issue 4) @ 4.35%... wish I hadn't closed a couple of those older Simple Saver issues now! 

In theory there isn't a limit to the number of sunny day savers you could get this way. As an experiment I've upgraded all of my accounts to a Sunny Day Saver (bringing me to 5) and opened a new Simple Saver. It now gives me the option to upgrade the new simple saver to another Sunny Day Saver so in theory all you'd have to do is keep opening a simple saver, then upgrading it to a sunny day saver to get as many as you wanted.

I'm not going to bother though as I don't want to annoy them too much and doubt I'd use them all anyway given that I ended up pulling funds from the NatWest/RBS DRSs at 5.5% to fund August's regular savers and have a lot of capacity to absorb excess funds in regular savers paying north of 5%. Plus it's been a while since I've had anywhere near £15k in EA accounts (excluding ISAs).

Interesting.

I have just opened another SDS account.

I may as well try to open as many accounts as I can and transfer the max  £3K into each.

Is there a limit?

Do you need to open a new SDS account by transferring from a 'simple saver' parent or can you simply keep opening multiple SDS accounts?

Hard to believe it could be that simple or that Cahoot could be so stupid!

Could Cahoot deny paying interest into multiple accounts because the investor did not follow the 'one account per person' rule given in the terms and conditions?

allegro120

janusdesign said:

HHUK said:

Bridlington1 said:

Additionally I've just had a bit of a play around with it and it's let me upgrade two old easy access accounts I hadn't got round to closing to sunny day savers so I've ended up with three sunny day saver issue 5s at 5%.

Cahoot Sunny Day Savers

Many thanks for this. I've theoretically upgraded three of my accounts. I note it still says one is allowed a maximum of one sole and one joint Sunny Day Saver. Do we know how this works in practice, please?

I think the general opinion here is that we considered they meant one per issue (or 2 if including joint) - but that was before this upgrade option was available, so I assume they don't mind / care / know.

I now have 5 x Sunny Day Saver (Issue 5) - I upgraded an Issue 4 @ 4.5%, and Issues 2&3 @ 4.75%, plus the Simple Saver (Issue 4) @ 4.35%... wish I hadn't closed a couple of those older Simple Saver issues now! 

allegro120 said:
I've recently discovered this too.  As a result I now have 14 SDSs paying 5%, don't need to fund 5% RSs any more.  Not sure when these upgraded accounts will expire as the displayed date of opening didn't change, but I guess I'll find out when Cahoot send notifications for each of them.

i'm assuming, for the purpose of my spreadsheet, that it's 12 months from today, but time will tell... the Simple Saver (Issue 4) that I upgraded to a Sunny Day Saver (Issue 5) would have supposedly matured this Thursday, so i'll let you know if the rate changes on Thursday or Friday.. but logically, even if it does drop down to 1%, then I could just upgrade it again (assuming the issue 5 doesn't get pulled after the BoE meeting).

it's maturity letter does state...

You can change to a different cahoot account
We have a range of cahoot accounts available to open online. As we are a digital bank you can transfer funds to any cahoot account via online banking. To find out more, go to cahoot.com.

i've still got an empty Simple Saver (Issue 9) paying 4.41% open, but i'll leave that alone for now until after the BoE meeting... sometimes Cahoot have left older issues alone and just dropped the rates on the current issue.

Thank you in advance.  It would be good to know this upgrade affects the term of the account. 
It looks like you can do it with any account.  I've never closed my Cahoot accounts, hence I have 15. I've left Simple Saver issue 10 as it is just in case I will need instant easy acces without limit when my Chase boost ends.  Probably unnecessary, but 14 Sunny Days is already more than will I need for EA in foreseen future. 

Bob2000

So if l opened a sunny day saver and then a simple saver, l could upgrade the simple for another sunny?

allegro120

Bob2000 said:

So if l opened a sunny day saver and then a simple saver, l could upgrade the simple for another sunny?

Yes, you can do this.

Bob2000

allegro120 said:

Bob2000 said:

So if l opened a sunny day saver and then a simple saver, l could upgrade the simple for another sunny?

Yes, you can do this.

Super Duper!

friolento

CAHOOT

Amongst a bunch of dormant accounts, I have 2 Sunny Days, one opened September 2024 and one opened April 2025. Both on 5%. I could upgrade the September one, to hopefully run for 12 months from today. But the April one does not show in my list of accounts that can be upgraded. Strange. I suppose I can't win them all......

I notice that the "Account opened" displayed stays as the original opening date, and the upgrade date is not visible. I hope they have properly recorded the upgrade date under the covers. 

wiseonesomeofthetime

I have upgraded mine and also opened a new Simple Saver.

Only one email received, that conforming the opening of the Simple Saver.

I hope Cahoot do not retract on the upgrades overnight now!

allegro120

friolento said:

CAHOOT

Amongst a bunch of dormant accounts, I have 2 Sunny Days, one opened September 2024 and one opened April 2025. Both on 5%. I could upgrade the September one, to hopefully run for 12 months from today. But the April one does not show in my list of accounts that can be upgraded. Strange. I suppose I can't win them all......

I notice that the "Account opened" displayed stays as the original opening date, and the upgrade date is not visible. I hope they have properly recorded the upgrade date under the covers. 

Could it be because the April one is already issue 5?

Ch1ll1Phlakes

BestSeagull said:

Bridlington1 said:

With regards to Cahoot. Apologies if this feature has been there a while and I've just failed to notice it but I seem to have the option to upgrade an existing account as well as the option to apply for a new account.

This could be a useful one potentially for those wishing to ``refresh" the Sunny Day Saver as well as those who have maturing accounts they'd like to replace without having to set up new payees.

Additionally I've just had a bit of a play around with it and it's let me upgrade two old easy access accounts I hadn't got round to closing to sunny day savers so I've ended up with three sunny day saver issue 5s at 5%.

Well, this has cheered me right up after just being refused again for a second Principality 6 month RS 3! 
What a find. Thank you! 

Just a heads up Principality will only let you have one of each Issue of their regular saver.

Quote: This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver Bond in your name. 

allegro120

Ch1ll1Phlakes said:

BestSeagull said:

Bridlington1 said:

With regards to Cahoot. Apologies if this feature has been there a while and I've just failed to notice it but I seem to have the option to upgrade an existing account as well as the option to apply for a new account.

This could be a useful one potentially for those wishing to ``refresh" the Sunny Day Saver as well as those who have maturing accounts they'd like to replace without having to set up new payees.

Additionally I've just had a bit of a play around with it and it's let me upgrade two old easy access accounts I hadn't got round to closing to sunny day savers so I've ended up with three sunny day saver issue 5s at 5%.

Well, this has cheered me right up after just being refused again for a second Principality 6 month RS 3! 
What a find. Thank you! 

Just a heads up Principality will only let you have one of each Issue of their regular saver.

Quote: This can be a joint account, but you can’t have more than one of this issue number of the Regular Saver Bond in your name. 

Principality lets me have 4 regular saver accounts of the same issue.