Cahoot 'Simple Saver'

dosh37

The account may be called ‘Cahoot Simple Saver’ but I found the application process far from simple.

First I found that if you are an existing Cahoot customer (I have a Sunny Day Saver account) you cannot apply for another account after logging in. You have to log out and apply as a new customer.

The application process includes irrelevant questions such as ‘what are you saving for’. It forces you to enter a ‘monthly deposit’ amount even though it’s not a regular savings account. The system does not allow you to enter zero in the field.

After the account is open, if you are an existing customer, you receive an email telling you that you need to print and fill in a ‘Change of Details Application form’ – even if nothing has changed. As part of this you have to go through a time consuming proof of address and proof of ID process as if you were a new customer. This involves scanning something like a passport, converting it to B&W, scanning something like your most recent Council Tax bill and printing both. The process asks you to write the account number and sort code on the ID documents (to me this is not exactly secure).

Then you have to send the forms and ID through the post and wait for them to be processed before you can access the new account.

It must have taken at least a couple of hours to get to the point where I posted the letter. I have no idea how long it will take to process the ID information such that I can see the new account after logging in.

masonic

I opened it as an existing Sunny Day Saver account holder last week. I did need to fill out a full application form, but could see the account online instantly and nothing further was required. My email stated that if I already have login details I can continue using them, and only if I have forgotten them would I need to get in touch.

It actually is more secure to write your account details on the ID document copies - it prevents them being used for anything else.

jameseonline

I have both accounts and never been asked for ID etc, guessing you failed their checks 

dosh37

It is possible that I did not include my middle name on the first account.

However it is not mandatory and is no reason to require another full ID check.

In any case, my middle name would have been present of the previous passport copy I sent as part of the original ID documentation.

masonic

dosh37 said:

It is possible that I did not include my middle name on the first account.

However it is not mandatory and is no reason to require another full ID check.

In any case, my middle name would have been present of the previous passport copy I sent as part of the original ID documentation.

Inconsistent information between applications would be one reason why they may revert to manual checks. However, if you had to provide ID documents both times, perhaps there is an underlying issue within the electronic information. Middle name is always an "optional" field, because not everyone has one. I always provide mine if the application form has a field for it.

wiseonesomeofthetime

I am an existing Cahoot customer, however, despite being logged in, the Apply Online - Savings link takes you outside of your login and makes you complete the application process from scratch.

Application now being considered.

It did give me an application reference, however, as I expected an email with those details on, I neglected to save it and guess what, no confirmation email. Oh well. If I don't get approved, it's not the end of the world tbh.

allegro120

I feel very lucky reading through all troubles people went through with Cahoot. I've opened 3 (1 Simple and 2 Sunnies) this year in January as a new customer, can't remember the order but never had to go through any hoops.  Recently added two more Sunnies (issue 2) and that went well without any complications.

masonic

allegro120 said:

I feel very lucky reading through all troubles people went through with Cahoot. I've opened 3 (1 Simple and 2 Sunnies) this year in January as a new customer, can't remember the order but never had to go through any hoops.  Recently added two more Sunnies (issue 2) and that went well without any complications.

You're allowed one of each issue? Not sure how I missed that if so.

friolento

masonic said:

allegro120 said:

I feel very lucky reading through all troubles people went through with Cahoot. I've opened 3 (1 Simple and 2 Sunnies) this year in January as a new customer, can't remember the order but never had to go through any hoops.  Recently added two more Sunnies (issue 2) and that went well without any complications.

You're allowed one of each issue? Not sure how I missed that if so.

You aren't, according to the T&Cs.

But as happens so often, the T&Cs are not enforced by the software.

allegro120

masonic said:

allegro120 said:

I feel very lucky reading through all troubles people went through with Cahoot. I've opened 3 (1 Simple and 2 Sunnies) this year in January as a new customer, can't remember the order but never had to go through any hoops.  Recently added two more Sunnies (issue 2) and that went well without any complications.

You're allowed one of each issue? Not sure how I missed that if so.

Looks like you are. I've opened issue 2 on 3rd September and it has not been closed yet, neither I received any correspondence warning me of closure.

hoc

Applied nearly two weeks ago. Still waiting for all the paper work. Not impressed and may end up not funding and let them close.