The New Top Easy Access Savings Discussion Area

soulsaver

Upgrading existing Cahoot SDSs: I've got no interest paid, dates remained the same and no edocs yet.

I've logged out and back in with no changes. Is it updated overnight?

moi

https://forums.moneysavingexpert.com/discussion/comment/81906153#Comment_81906153

@fabsaver I've now done a withdrawal from Tembo HomeSaver. They've partly changed the erroneous ISA message. Tho they still oddly call the £25,000 maximum balance an "annual allowance."

Anyway, I requested the withdrawal last night 8:30pm. Got the "within 2 working days" message. I just checked my Nationwide current account, and the Tembo money is there already!

It still shows as "pending withdrawal in Tembo's app. In the statement it actually says "Processed within 1-2 working days"

janusd

https://forums.moneysavingexpert.com/discussion/comment/81910391#Comment_81910391

@soulsaver - from past experience, you should get upgrade letter(s) tomorrow (dated today) in your e-documents section, with any accrued interest paid into the account(s) the day after.

janusd

@soulsaver - another possible entry for your top 10…

OakNorth Easy Access Tracker - 4.14% AER (including 1.14% boost for new customers) - £1 min; Existing customers get the standard rate of 3% AER.

hoppy2

got all notifications and interest paid on all upgraded SDS today

sparkiemalarkie

I am quite new to Cahoot SDS - having recently opened one for the Topcashback.

Why are people upgrading accounts rather than opening an additional account?

I've opened another one, a new edition, again through Topcashback (although the first hasn't paid out yet)
Is this ok?

sx

JamesRobinson48

@soulsaver

Nationwide Building Society

1 Year Single Access Saver - 4.00% variable

https://www.nationwide.co.uk/savings/single-access-saver/

dcs34

https://forums.moneysavingexpert.com/discussion/comment/81911446#Comment_81911446

I think the idea (or the "loophole") is that people do both?

Open a new one (as allowed). Then upgrade the previous issues to the new issue, to extend the 5% period a further 12 months.

gpman

Is anyone else totally confused by the new Cahoot SDS v6?

What difference is there to the former v5?

Why are people choosing to upgrade to v6? What benefit does that bring? Is it just to get paid the interest early, perhaps for tax purposes? Any other financial gain is surely minimal esp. with a 3k max balance permitted. (e.g. by compounding the interest paid)

gpman

https://forums.moneysavingexpert.com/discussion/comment/81911446#Comment_81911446

According to the Cahoot terms,

"You can have a maximum of two cahoot Sunny Day Saver accounts – one in your sole name and one that you hold jointly with someone else."