Cahoot SDS upgrade

winkowinko

One of my SDS is due for renewal in about 10 days. If I were to renew today, would that mean all future interest would be paid on the 25th of the month, rather than the 6th, which it currently pays on?

Also, I have a few SDS's, all paying interest on various days of the month, which means I have to log in a few times a month and syphon the excess above £3k elsewhere. Could I renew all of them at the same time, ie today, so that they'd all pay interest on the same day?

friolento

If I were to renew today, would that mean all future interest would be
paid on the 25th of the month, rather than the 6th, which it currently
pays on?

Yes

Could I renew all of them at the same time, ie today, so that they'd all pay interest on the same day?

You can't renew them, but you might be able to upgrade them to a later issue

winkowinko

I currently have 2 x issue 5s, and 2 x issue 6s.

Ideally, I would like to upgrade/renew them all at the same time, for no reason other than having interest paid on the same date across all accounts.

Or can you only upgrade within 2 months of maturity?

winkowinko

So I've managed to upgrade 2 of them. It won't let me upgrade the others yet, so I'll just wait until closer to maturity and make a note to do it on the 25th of the month.

Section62

https://forums.moneysavingexpert.com/discussion/6677608/cahoot-sds-upgrade

Also, I have a few SDS's, all paying interest on various days of the month, which means I have to log in a few times a month and syphon the
excess above £3k elsewhere. Could I renew all of them at the same time, ie today, so that they'd all pay interest on the same day?

I would think logging on a few times a month to transfer interest away would be preferable to doing something out of the ordinary which might provoke investigation and possible loss of the accounts completely….

caper7

I thought you could only have one sunny day saver (or two if you have a joint account), how are you having several? Have I missed a trick?

ThePirates

https://forums.moneysavingexpert.com/discussion/comment/82082083#Comment_82082083

Yup! I have 6!

Use the upgrade button!

KTF

The Cahoot system is not very good and allows you to open up as many as you like. Just keep going through the application process.

I had 21 full at one point.