The New Top Easy Access Savings Discussion Area

20122013

CAHOOT SUNNY SAVER

Is there a set date when the interest is paid to this account?

As the interest had been paid into my account on the 9th since November but this month it was on the 8th, I just moved the money today (9th) to my Cahoot Simple account and it is showing it has been credited on the 10th.. I seem to keep missing a day or days with interests and account maturing.. Be good to know whether there is a pattern or how to work out the interest credit day / date, please?

My online account was opened on the 6th.. and AI says

'Cahoot Sunny Day Saver interest is paid on the monthly or yearly anniversary of the account opening, depending on your choice at setup; you select either monthly or annual interest payment, and it's paid into the account itself, becoming available the next day, with annual payments made on the account's maturity date. Interest is calculated daily but paid out as per your preference, with annual payments coinciding with the 12-month term end. Interest Payment Options:

• Monthly: Interest is paid on the monthly anniversary of the account opening.'

Am I missing something?

chris_the_bee

https://forums.moneysavingexpert.com/discussion/comment/81877861#Comment_81877861

Cahoot Sunny Saver

Not sure about the set date question but with regards to "I just moved the money today (9th) to my Cahoot Simple account and it is showing it has been credited on the 10th" You moved the money after the 8pm cutoff for same day credit.

pecunianonolet

Principality

Has anyone that is impacted by the login issue been able to open any accounts over the phone? I want to open the 1y reg saver bond issue 36 before it is withdrawn.

cloud_dog

https://forums.moneysavingexpert.com/discussion/comment/81877168#Comment_81877168

Just to confirm that the increase appears to be across the issues. We have Issue 4 and it is now showing 4.20%.

1spiral

https://forums.moneysavingexpert.com/discussion/comment/81877815#Comment_81877815

Thanks, I had seen this but I'm pretty sure they only update it after the change and don't advise of notified upcoming changes, hence my question. It would all be so much easier if they informed everyone with the account of changes rather than just those with >£100

System

We've moved @20122013's post about Cahoot from: The Top Regular Savers Discussion Thread.

20122013

https://forums.moneysavingexpert.com/discussion/comment/81877908#Comment_81877908

Yes, you can.

Bridlington1

@soulsaver

Charter EA Issue 70 4.06% NLA, replaced by issue 71 at 4.09%

x44

You have got to wonder how many £'millions they have of savers money in issue 70 if it saves them a worthwhile amount of money in interest payments by doing this?

Creating a new issue at such a small increase and keeping those savers in issue 70 at 4.06% and not upgrading them rather than merely increase issue 70 by the 0.02%!

Of course if 100% of the savers in issue 70 close the account and transfer to issue 71 it will actually cost Charter money as closing issue 70 results in Charter having to pay out the interest "now" at closure which is then compounded into the higher earning issue 71.

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/81880687#Comment_81880687

You're not really looking at this from the perspective of the bank. They have created a new issue at a higher rate because they need to attract some new money and the way to do that is be competetive in the market. It does not help them by just putting up the price of existing funds, which raising the interest rate on the current issue does. By creating a new issue, they attract the funds they need, but those funds are compartmentalised at a specific rate which can be adjusted in the future.