Cahoot Sunny Day Saver

winkowinko

Just in the process of seeing this account up. It's the one that pays 5% for balances up to £3k.

It's asking me some slightly unusual questions, such as 1) How much will my initial deposit be, and 2) How much will I add per month. I was hoping to make those decisions once the account has been opened, not prior.

I could probably give them an accurate initial deposit amount if I thought about it, but I can't predict how much I'd like to add in future months.

Do I need to give them accurate figures at the application stage?

ThePirates

Nope, doesn't really matter

allegro120

No, you don’t need to give accurate figures. This is not unusual. Many banks and building societies ask these questions in the application process. I don’t think your answers will have any impact on the success of your application. 

winkowinko

Thanks guys, ok so the initial deposit bit may not be that unusual. I recall seeing similar when setting up another account, but that one also asked me which bank I'd be paying in from. Which seemed like an additional security check, which is fair enough.
Maybe this is similar, in that they want the figures to tally, but the future monthly payments threw me a bit.

wmb194

For thr initial deposit I entered the maximum balance to earn 5% and for monthly deposits I entered zero.

allegro120

winkowinko said:

Thanks guys, ok so the initial deposit bit may not be that unusual. I recall seeing similar when setting up another account, but that one also asked me which bank I'd be paying in from. Which seemed like an additional security check, which is fair enough.
Maybe this is similar, in that they want the figures to tally, but the future monthly payments threw me a bit.

Monthly payment question is irrelevant for this account. My answers were £3k for initial deposit and £0 monthly payments, but my real initial deposit was £1. 

winkowinko

Thanks guys. I'm just opening this account initially to park around £2k for my daughter, but also to add a bit each month, rather than opening it with £3k and adding nothing.