The New Top Easy Access Savings Discussion Area

Bob2000

https://forums.moneysavingexpert.com/discussion/comment/81909441#Comment_81909441

Will it be possible to upgrade earlier issues to the newest?

janusd

https://forums.moneysavingexpert.com/discussion/comment/81909450#Comment_81909450

I don't see why not - I've previously opened new SDS issues whilst holding older issues. I will likely open another new one tomorrow and check the new terms before upgrading my other Issue Iss5's.

weirdly, I can't recall Cahoot launching a new issue (SDS or SS) without changing the rate.

janusd

https://forums.moneysavingexpert.com/discussion/comment/81909544#Comment_81909544

yes.

friolento

https://forums.moneysavingexpert.com/discussion/comment/81909544#Comment_81909544

Yes - and expect to receive interest up to the upgrade day. This might be an issue for those watching their tax liability in the current tax year.

1spiral

https://forums.moneysavingexpert.com/discussion/comment/81909601#Comment_81909601

So is it the case that at upgrade, interest is paid as accrued and the new interest date becomes the date you upgraded. e.g if I upgrade on Friday (6th March) I will get what interest has accrued so far and my next monthly payment will be 6th April i.e. new tax year.

janusd

https://forums.moneysavingexpert.com/discussion/comment/81909629#Comment_81909629

next month interest would be paid day after anniversary (7th)… I will need to check my records later tonight to see when accrued interest is paid, but memory says it was a couple of days after upgrade.

EthicsGradient

https://forums.moneysavingexpert.com/discussion/comment/81909546#Comment_81909546

I can't work out what the purpose of the new Issue is. Apart from the issue number, the "effective from" date, and the updated FSCS guarantee at the bottom (which I wouldn't think they need a new issue to cover), there is no difference at all between the Ts & Cs. Are they really asking people to hold one of each concurrently, rather than just negligently allowing it as they have till now?

1spiral

https://forums.moneysavingexpert.com/discussion/comment/81909736#Comment_81909736

I'll do that tomorrow then. My rate was due to expire next month anyway and I will be a non tax payer next year so it doubly makes sense to do this.

DodgerPot

Cahoot SDS

If I upgrade issue 5 does that then start a new 12 month term from the upgrade date ?
not sure if to upgrade as I have issue 5 running until September and I receive monthly interest anyway.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/81910024#Comment_81910024

Yes, it will be new 12 month term from the upgrade date.