The New Top Easy Access Savings Discussion Area

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/82122167#Comment_82122167

Interestingly, Moneyfacts don't list this account on their Easy Access page, presumably for the same reasons this thread seems skeptical of it. However, it's just popped up as an advertisment on the very same page, sandwiched between the Principality at 4.3% and the Post Office at 4.31%.

janusd

https://forums.moneysavingexpert.com/discussion/comment/82123468#Comment_82123468

it's listed on Moneyfacts - you just need to set the Investment Amount value to £90000 or higher.

ToastLady

https://forums.moneysavingexpert.com/discussion/comment/82123468#Comment_82123468

If you change the Investment amount to £90,000 in Moneyfacts EA, ESBS account does come up, not that I think many will be doing that. Will be giving that account a big bodyswerve.

RogerRizla

CAHOOT

I would caution anyone intending to open a Cahoot account. Be prepared to be very patient.

So far, 11 emails and a 30 minute 'phone call later we have been unable to.

Long story short - we have uploaded passports and bank statements from our main bank showing full name and address. We've been sent the same email requesting this three times each time saying my wife's full name is not visible - on a passport photo page. Today I received the 11th email asking for my passport photo page and bank statement be sent in physical form for a 10-day processing turnaround.

I've just got off a 30 minute phone call ( not a Freephone number obviously ) with a customer service rep, actually more of a wait while she tried to work it out while wfh with a baby bawling in the background, which ended with her saying I don't know what the problem is.

We're looking to invest £240,000. But not now with Cahoot. The slight advantage on the interest rate is not worth having to put up with such amateurish standards.

I read on Trustpilot where Cahoot's reviews are even worse than some of the main banks who traditionally get lousy reviews that this is a common complaint.

Truly abysmal.

BigBlueSky

https://forums.moneysavingexpert.com/discussion/comment/82120190#Comment_82120190

https://forums.moneysavingexpert.com/discussion/comment/82124251#Comment_82124251

It probably doesn't help now, but they have a freephone number (found on SAYNOTO0870.COM but also listed on their own website)

https://www.cahoot.com/help-and-support/contact-us

0800 917 3489

Just gets you through to the same place as their standard number

RogerRizla

Thanks for that.

You would think a company hoping to get business would mention that themselves …

pecunianonolet

https://forums.moneysavingexpert.com/discussion/comment/82124251#Comment_82124251

Many here are very happy with Cahoot service offerings, myself included. Sorry to hear you have had such an experience.

However, the fact you stated you called a number that wasn't freephone made me actually think if all the problems are on Cahoot side. Clicking https://www.cahoot.com/help-and-support/contact-us on the website gives you very clearly their 0800 freephone number. They also have a link there about how to raise a formal complaint and its procedure so why you phoned a number that costs you money is only something you can answer yourself.

Truspilot is not very trustworthy and bad experiences spread significantly faster and wider than positive ones due to human psychology and social dynamics. I guess for every bad review there 10 good ones are available but people just have no reason to share them.

I would raise a formal complaint, have them investigate your case and see what the outcome is. You may be due some worthwhile compensation.

friolento

https://forums.moneysavingexpert.com/discussion/comment/82124251#Comment_82124251

This sounds like a very unfortunate and frustrating experience, not one I can back up from my own experience as they verified my ID electronically. I have had some funds in Cahoot on and off for years. Their online banking is pretty ancient but their often good rates make up for it.

In your shoes, I would be looking at First Active, Cynergy or Tesco, all paying a tad more than Cahoot right now. Be prepared for ID requests again, though, and some delays, especially with First Active, who seem to have been overwhelmed with applications after they were mentioned by MSE.

Have you checked your registration on the Electoral Register, and your details on credit reference files? If there is even a slight a mismatch of address, you are likely to get asked for additional proof of ID.

CuparLad

https://forums.moneysavingexpert.com/discussion/comment/82124332#Comment_82124332

👆️ This is good advice. Since the checks are carried out electronically, inconsistencies get flagged as problematic, when a human being would put it through. Ironically, its not that your ID and information needs to be accurate, it just needs to be consistent.

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/82124324#Comment_82124324

Unless they're on holiday abroad, it's starting to look like it might be a cloned site, although the baby in the background could belong to an employee allowed to work from home.