The New Top Easy Access Savings Discussion Area

friolento

clivep said:

Cahoot...

I've upgraded my 4.75% to 5% but see that there is no option to change from annual to monthly interest (or vice versa). In my case, the account opening date is still showing as Feb 25 so annual interest is due next Feb. No interest was calculated today so I guess interest will still be paid Feb 26 as it looks like only the interest rate has been changed. Does this mean that the bonus interest rate will also expire in Feb 26 rather than 12 months from now?

I've already maxed out interest with no tax for the current tax year so want to know in which tax year the interest on the upgraded a/c will be paid.

My upgraded accounts had interest credited this morning. I take it this is closing off any accrued interest with the old rate, and the new rate as well as the account duration will start from today. Opening date still shows as the original date, and interest rate shows as 5% now

10_66

10_66 said:

allegro120 said:

...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.

One of mine was due to expire tomorrow, so I should be able to see if the rate drops back down again tomorrow after today's upgrade.

Cahoot.
On checking the account that was opened on 6/8/24 and which I upgraded yesterday, the upgraded name of Sunny Day Saver remains along with the rate of 4.89% Gross (5% AER) though it still shows the same opening date of 6/8/24.  If it was going to drop back down, I'd have thought it'd have done so by now, but if it should change tomorrow I'll report back here.

Edit:  This account didn’t qualify for interest as only maintained with £1.  However, two of the others I upgraded yesterday did receive interest overnight.

pfpf

Cahoot:
i'm now even more annoyed. i have opened several accounts over the months but other than the 1st account none have ever appeared online. on checking why not i was told there was "differing information" (i assume compared to application one) each time i applied and had to fill in a paper form and send it off to confirm my "change of details".
i cannot work out what could have been "different".

i am guessing there is an unused group of accounts sat in a never actioned single login, just different to what i have access to.

10_66

pfpf said:

Cahoot:
i'm now even more annoyed. i have opened several accounts over the months but other than the 1st account none have ever appeared online. on checking why not i was told there was "differing information" (i assume compared to application one) each time i applied and had to fill in a paper form and send it off to confirm my "change of details".
i cannot work out what could have been "different".

i am guessing there is an unused group of accounts sat in a never actioned single login, just different to what i have access to.

I always have a similar experience, each time I apply for a new Cahoot account I have to through the same hoops to get it open.  I raised a complaint about it, and no one can explain why this happens, all of my information ls correct and unchanged.

wiseonesomeofthetime

hoppy2 said:

Has anybody else tried to upgrade the simple saver, when I tried the interest rate dropped to 0%

I upgraded my Simple Saver last night and it now shows as a Sunny Day Saver, but the rate is still showing as 4.55% this morning.

Same with my Sunny Day Saver 3. Upgraded to Sunny Day Saver 5 and still showing 4.75%

Go figure.

One of my upgraded accounts had a nice chunk of interest added this morning, which I would have preferred in the next tax year, but hey-ho. Swings and roundabouts 🤷😀

pfpf

10_66 said:

pfpf said:

Cahoot:
i'm now even more annoyed. i have opened several accounts over the months but other than the 1st account none have ever appeared online. on checking why not i was told there was "differing information" (i assume compared to application one) each time i applied and had to fill in a paper form and send it off to confirm my "change of details".
i cannot work out what could have been "different".

i am guessing there is an unused group of accounts sat in a never actioned single login, just different to what i have access to.

I always have a similar experience, each time I apply for a new Cahoot account I have to through the same hoops to get it open.  I raised a complaint about it, and no one can explain why this happens, all of my information ls correct and unchanged.

were the "hoops" sending forms and ID via post or could you sort it via a telephone conversation?

hoppy2

I upgraded an old sunny day saver that had expired a month ago and showed 1%,  added a £1 and still shows 5% this morning!! could be mayhem at cahoot this morning!!!

qsk

For Cahoot upgrade: it seems to only work on matured accounts. I upgraded two of unmatured one (one Simple and one earlier version Sunny): they initially show as 5% but fall back to their original rates soon after.

wiseonesomeofthetime

qsk said:

For Cahoot upgrade: it seems to only work on matured accounts. I upgraded two of unmatured one (one Simple and one earlier version Sunny): they initially show as 5% but fall back to their original rates soon after.

Yh, my two did. Have just upgraded again and funded, but lets see if it drops back again.

RosieRooBear

qsk said:

For Cahoot upgrade: it seems to only work on matured accounts. I upgraded two of unmatured one (one Simple and one earlier version Sunny): they initially show as 5% but fall back to their original rates soon after.

Have just checked all eight of mine (matured & two at 4.75% which weren’t due to expire yet, and all showing as 4.89% monthly interest. The ones currently not in use I funded with £1.