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

DodgerPot

I was also confused reading of others upgrades with Cahoot accounts. 

I’d opened a simple saver a few months back and a sunny saver for the extra interest on £3000. The upgrade option is showing next to my accounts. Then I read of others holding several Sunny Savers at the same time. I had funds to park at 5% so yesterday just opened another Sunny Saver which was accepted straight away. 

How many Sunny Savers are allowed?

And can someone explain the upgrade function. 

My Simple Saver interest rate drops in December so is it possible to just open several Sunny Savers to gain the 5% rate (higher than the current 4.5%Simple Saver)

The_Green_Hornet

DodgerPot said:

I was also confused reading of others upgrades with Cahoot accounts. 

I’d opened a simple saver a few months back and a sunny saver for the extra interest on £3000. The upgrade option is showing next to my accounts. Then I read of others holding several Sunny Savers at the same time. I had funds to park at 5% so yesterday just opened another Sunny Saver which was accepted straight away. 

How many Sunny Savers are allowed?

And can someone explain the upgrade function. 

My Simple Saver interest rate drops in December so is it possible to just open several Sunny Savers to gain the 5% rate (higher than the current 4.5%Simple Saver)

According to their website "You can have a maximum of 1 sole account and 1 joint account per person".

However, it is my understanding from reading this thread that there is no physical check to prevent you from having more.

DodgerPot

Yes it does state on the Sunny Day Savers information you can have a max of one sole account and 1 joint per person. 

I’ve just logged on and opened and funded another Sunny Day Saver in less than 10 minutes just moving cash from Simple Saver to Sunny Day Saver. 

Seems a no brainier to hold £3000 in the 5% account 
So I now have Simple Saver and 3 Sunny Day accounts. All easy access. 

I only wish I’d known this trick sooner 
And should I chance opening further £3000 max Sunny Days 🤔

friolento

Sometimes it’s best to just quietly manage your accounts, rather than publicly announcing them.

Newly_retired

What a palaver I have had with Cahoot - now hopefully resolved.
It seems I have two identities with Cahoot, one including my middle name and one without. 
I can see online that my name at the top of the screen has no middle name, but apparently it is needed.
I cannot access my other ID. Evidently they sent me details of how to open a new account online which I ignored as I already had online access - or so I thought.
I have one Sunny Day Saver ( not my first, previous one matured ) fully funded
I have been trying to open a Simple Saver - not for the first time, but never been able to see it on screen.
A rang and a really helpful guy offered to merge my accounts but would need copies of ID. I suggested he could just close the other ID and all 5 listed Sunny Day savers, never funded as I never received details. He agreed he could do so. Letter to follow confirming this.
I now know that I need to put in my middle name when I apply for any more accounts with Cahoot. Let's hope it works. I think I will wait for the letter.