The New Top Easy Access Savings Discussion Area

janusd

winkowinko said:

Looks like it's £2.5k across ALL cahoot accounts, so presumably includes the SDS.

not their fixed rate bonds, but combined balances of Simple Saver, Sunny Day Saver and current accounts (NLA) will count.

friolento

AndyTh_2 said:

mon3ysav3r said:

grufferator said:

Cahoot is asking me for an SMS code every time I login. Is that the case for everyone, regardless of how long you've use it for?

Yes, always been the case for me, a pain but you don't need to match the case of the letters, which speeds things up a bit.

I normally just copy the code via Google messages for web for other banks, but annoyingly Cahoot/Santander's disabled paste ability.

Still, it's easier to have the Google messages for web visible on monitor to reading and typing manually, than unlocking phone to read out and type

I use Cahoot on my iPhone. My password manager autofills my userid and security number, and when I receive the OTP, one tap fills it into the OTP code field. Whilst not as painless as biometric login, I find it quite bearable. 

I would also much prefer an app, but if we have to choose between very good rates and a bit of old-fashioned login and browser banking, I will always opt for the better rates.

Those without Santander accounts can also use the Santander app to access their Cahoot accounts though I believe there's limited functionality (I have not tried it myself). If you need the app for Santander, there is still the option to install the app to access Cahoot on a different device. To me, that's more faff than just logging in on my iPhone.

allegro120

janusd said:

grufferator said:

Decided to open a joint savings account. Have opened one with Cahoot. Realised they don't have an Android app, and there's no mobile web interface neither. They send physical letters with PIN codes. Compared to Chase - it's like being back in the 2000s. Have then checked the reviews on TrustPilot. Decided to close the account immediately. 

you opened the account and *then* checked the reviews... err ok. 

the first account with Cahoot always takes time to setup - additional accounts shouldn't... you can use (in a limited way) the Santander app for Cahoot (if not using it for Santander)... as a long-time user of Cahoot, I don't really recognise those reviews as being my experience, but perhaps i'm more familiar with their systems, have more patience and do not expect every banking provider to be like Chase (whose app is excellent).

I don't think using reviews for opening bank accounts is a good strategy. Reviews are good for buying goods, not financial products.  Reading t&c is a more useful exercise for opening bank accounts.

It didn't take me long to get used to Cahoot. 
For occasional transactions and checking balances I use phone. OTP appears on the screen, just need to click on it, continue and I'm in.  Everything appears very small, but it is easy to zoom in.
For RS distributions I prefer desktop.  It doesn't take long to type the code (2 seconds?).
I've never had a desire to use Santander app for Cahoot.

allegro120

janusd said:

for those Cahoot users with a combined balance of £2,500 or more in their easy access / current accounts, they will be automatically entered into Cahoot's 25th Birthday draw (first prize is £25k) taking place at the end of the year.

that makes me feel old as they launched with an interest-free credit card that I got in July 2000 - the brand wasn't used for easy access accounts until the last few years.

...and the rates are guaranteed until the end date due to 60 days notice policy
I never win anything, but it's good to have a chance with no effort.

Stargunner

grufferator said:

Decided to open a joint savings account. Have opened one with Cahoot. Realised they don't have an Android app, and there's no mobile web interface neither. They send physical letters with PIN codes. Compared to Chase - it's like being back in the 2000s. Have then checked the reviews on TrustPilot. Decided to close the account immediately. 

So I looked at the next one in the list - Tesco Bank. Ok, nice. I opened the account, was able to log-in immediately, to look around. The app looks decent and so does the web interface. So I transferred £2000 yesterday. Today I decided to withdraw £300 money as a relative needs some financial help. Noticed the option isn't available on the app. It is available via the web interface though. Tried several times and it gives me an error. Starting to get frustrated at this point, so I call them. Turns out they need to send a letter to my house that I need to sign and then send it back. I can't recall being warned about that anywhere when I signed up. It's also not mentioned anywhere on the MSE page.

Only then they'll be able to unblock my account for transfers. It takes about one week. How is this acceptable in 2025? I'll probably take out my money as soon as they unlock it, and will continue saving on Chase with just 2% interest. My only problem with Chase is it's an app only bank, which is idiotic. I still rock a S10e phone that's quite slow. I want to be able to login on a laptop in case I lose my phone, or break it. What's the logic behind having an app-only bank? 

Cahoot can be accessed via the website from your mobile or laptop. 

Why would you want to keep your savings in an account paying 2% interest, when you could be earning more than double that elsewhere?

flobbalobbalob

grufferator said:

I want to be able to login on a laptop in case I lose my phone, or break it. What's the logic behind having an app-only bank? 

Some app-only bank apps can be used on some tablets. I prefer that to using my phone. Eg Zopa.

MichaelAP

ZOPA appears to be down at the moment. Can’t access the app (We’re aware of a technical issue affecting some of our products and services). Errr… SOME! If you cannot access your account then that to me is not SOME.

flaneurs_lobster

MichaelAP said:

ZOPA appears to be down at the moment. Can’t access the app (We’re aware of a technical issue affecting some of our products and services). Errr… SOME! If you cannot access your account then that to me is not SOME.

Can see that message AFTER logging into the app. Moving cash between pots/current account is working.

CuparLad

Monument Bank EA Boosted Rate increased to 4.51% (inc 0.74% fixed boost to 01/12/26)

Available to new clients only. Min £25K for rate.

@soulsaver

BooJewels

friolento said:

AndyTh_2 said:

mon3ysav3r said:

grufferator said:

Cahoot is asking me for an SMS code every time I login. Is that the case for everyone, regardless of how long you've use it for?

Yes, always been the case for me, a pain but you don't need to match the case of the letters, which speeds things up a bit.

I normally just copy the code via Google messages for web for other banks, but annoyingly Cahoot/Santander's disabled paste ability.

Still, it's easier to have the Google messages for web visible on monitor to reading and typing manually, than unlocking phone to read out and type

[snip]

I would also much prefer an app, but if we have to choose between very good rates and a bit of old-fashioned login and browser banking, I will always opt for the better rates.[snip]

I feel the same.  There are several ticks in the plus column for me with Cahoot, which mean that I am happy to tolerate their slightly odd interface.  Firstly, they give you 60 days notice of reductions in interest rates and they allow you to have multiple payees, where many savings accounts will only allow you to withdraw to a nominated account, or maybe 2.   Plus moving money seems to happen pretty instantly - usually faster than I can log in to the receiving account to check. 

One thing that irritates me a bit is the 12 month nature of rates on the Simple Savers, where you have to renew every year.  They have however improved that arrangement recently where you can now upgrade an existing account, keeping it open and with the same account number, payees etc.  I've gained on that a little recently, as the new accounts were at slightly better rates than my current one, so I could upgrade to get the new rate before the old account expired.