The New Top Easy Access Savings Discussion Area

castle96

https://forums.moneysavingexpert.com/discussion/comment/82090036#Comment_82090036

My son's solicitor messed me around for hours and hours and hours ! 'fulfilling' his money laundering regs. Like others on here, I had maturities of RS, amounts going between 30 odd accounts, ins/outs, etc. over the last 6 mths, almost daily

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82090300#Comment_82090300

I'll give another tip that with Nationwide if you "groom" account payees by sending small amounts every day , eventually worstcase £25k limits per nationwide account per day become generous £100k limits. Combine that with, in my case, a legacy flex basic account, a flex direct account, a wife's account and a joint account, and I could shift £400k per day with no sweat and it never triggered fraud checks. My flex accounts were a very useful funnel for rate hopping between institutions while spending a year renting.

Their payee descriptions with nicknames are also excellently implemented. Contrast that with Lloyds, where half the time I'm not entirely sure who I'm paying….

janusd

https://forums.moneysavingexpert.com/discussion/comment/82087720#Comment_82087720

Re: Cahoot - yes I have had interest take a couple of days… vaguely recall I once upgraded on a Friday or Saturday (last year) and I got the interest on the Monday.

the_seer

@soulsaver Cahoot Simple Saver (Issue 18) 4.52% AER variable available from today.

BreakingGlass

https://forums.moneysavingexpert.com/discussion/comment/82091103#Comment_82091103

Thanks - I see that you can chose to have interest paid annually and that it is paid on the anniversary of opening - useful for those of use wanting to shift interest to the next tax year!

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/82091139#Comment_82091139

When the increased tax rates on interest come in.. ;)

gwapenut

https://forums.moneysavingexpert.com/discussion/comment/82091201#Comment_82091201

The beauty of anniversary interest is that you can choose to close the account early, towards the end of the tax year, crystallising the interest early. Or let it roll on, depenidng on your personal circumstances and current usage of allowance.

It is worth everyone with accounts paying interest next tax year to makie a judgment call late in March to check whether early closure will benefit them though versus a slightly higher tax rate next year.

Note that cahoot can take a little time to close an account and pay interest, so it's better to act a week or so before the deadline. Up-/down-grading tends to be slightly faster than closure.

sherbie28

Cahoots have terrible reviews on trustpilot, are they really that bad?

Steve_xx

https://forums.moneysavingexpert.com/discussion/comment/82091842#Comment_82091842

They're just fine

friolento

https://forums.moneysavingexpert.com/discussion/comment/82091842#Comment_82091842

They are marvellous. Sadly, no app* but everything else is great. True instant access, very easy upgrade to new versions, often top rates. I have not read the Trustpilot reviews but am tempted to think they are from people who don't know much about easy access savings.

*if you aren't using the Santander app for Santander, you might be able to use it for Cahoot.