Cahoot Interest Payment Date

nottsphil

OP don't file a complaint until you've checked your console. For my SDS I'm clearly receiving interest monthly; if it was annual then the rate would be shown as 5.00%.

If you yourself have more than one SDS then don't file a complaint at all....

wiseonesomeofthetime

https://forums.moneysavingexpert.com/discussion/comment/82097104#Comment_82097104

Yeah, quickest way to get your SDS count chopped down to one!

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82096829#Comment_82096829

It can be confusing and misleading when people quote gross interest instead of AER… As for compound interest, I had a couple of simple savers (monthly interest) with £1 in them for about a year and didn’t receive any interest.

nottsphil

https://forums.moneysavingexpert.com/discussion/comment/82097455#Comment_82097455

It can also be confusing and misleading when people quote AER instead of gross interest, which is exactly what Friolento did on the page one.

caper7

https://forums.moneysavingexpert.com/discussion/comment/82096829#Comment_82096829

I only just upgraded, and now they've put the interest up again. Can I upgrade again?

friolento

https://forums.moneysavingexpert.com/discussion/comment/82098205#Comment_82098205

Probably, yes. Just try it. If you can select your account in the upgrade list, you are good to go.

allegro120

https://forums.moneysavingexpert.com/discussion/comment/82098261#Comment_82098261

I was able to upgrade from 17 to 18, but my issue 16 didn’t appear on the list. Strange.

Devonjem

No response yet from Cahoot. I am not complaining to them about it - I just want to understand how the account operates around interest payment dates given the account was opened on 14/4 with just £1, substantial deposit on 6/7 and interest paid on 7/8. It is almost as if my query to Cahoot reminded them to pay the interest, which was deposited a couple of days later in the afternoon. I dont know what time of day they usually make interest payments - is it usually in the mornings?

Greenoz

https://forums.moneysavingexpert.com/discussion/comment/82098842#Comment_82098842

Are you sure you did not upgrade the account? There have been 2 new issues with higher interest rates since April and upgrading the account would have reset your interest payment date.