Cahoot Sunny Day Saver/Simple Saver/Fixed Rate Bonds - Upgrade Available

PixelPound

DRS1 said:

NorthYorkie said:

I managed to open a new Sunny Saver at 5% and transfer the funds from the old Sunny Saver at 4.65%. Couldn't see any easy way of closing the old account, so left it. Both accounts are still showing up when I log in, so Cahoot don't seem to be enforcing the '1 account' rule.
CORRECTION; I have just noticed that my old Sunny Saver account has been re-classified as a savings account.

Does it allow you to upgrade it to a new Sunny Day Saver?

Not if he already has one.

DRS1

PixelPound said:

DRS1 said:

NorthYorkie said:

I managed to open a new Sunny Saver at 5% and transfer the funds from the old Sunny Saver at 4.65%. Couldn't see any easy way of closing the old account, so left it. Both accounts are still showing up when I log in, so Cahoot don't seem to be enforcing the '1 account' rule.
CORRECTION; I have just noticed that my old Sunny Saver account has been re-classified as a savings account.

Does it allow you to upgrade it to a new Sunny Day Saver?

Not if he already has one.

But aren't people on here posting about upgrading multiple accounts?

friolento

Oh please.

aroominyork

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

masonic

aroominyork said:

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

I think they've been waiting for you to sell before making the announcement

the_seer

aroominyork said:

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

Cahoot Simple Saver Issue 11 (4.40%) was launched on 21-Aug replacing Issue 10 (4.55%).
As this was two weeks AFTER the last BOE interest rate cut, I think it's very unlikely that Cahoot will reduce this rate due to that rate cut.
N.B. The T&Cs state they will give 2 months notice of any rate change.

allegro120

aroominyork said:

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

It's always random with Cahoot.  Good thing about it is that they give 60 days notice for reductions.

aroominyork

masonic said:

aroominyork said:

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

I think they've been waiting for you to sell before making the announcement

And they said Don Rickles was dead 

the_seer said:

aroominyork said:

Does anyone know from experience whether Cahoot are likely to reduce their 4.40% (for 12 months) simple saver rate soon? I don't think they've announced anything since the 0.25% base rate fall, so I wonder if they have a pattern of how/when they respond. I am trying to decide whether to move funds from CSH2 (unwrapped and over CGT-free allowance) to Cahoot (over PSA so paying 20% tax). 

Cahoot Simple Saver Issue 11 (4.40%) was launched on 21-Aug replacing Issue 10 (4.55%).
As this was two weeks AFTER the last BOE interest rate cut, I think it's very unlikely that Cahoot will reduce this rate due to that rate cut.

Thank you!

clivep

I've upgraded a couple of Rainy Day savers and received interest as if the old a/c had been closed. However, the a/c opening date has not changed. One assumes that the 12 month bonus rate is 12 months from the date of upgrade but what about the annual interest payment date?

They state "When you upgrade, your interest frequency will stay the same". I know this means you can't change between annual/monthly interest but does it mean the annual interest payment date remains the same at 12 months from original opening date rather than 12 months from upgrade date?

I think the interest payment will be 12 months from upgrade date which will put in into the next tax year, but I could be wrong.

Boogie83e

Looking for answers...I've read the thread and I'm still confused!  Why should I upgrade? As far as I can see both account rates are the same!? 

Thanks :-)