50k to save

quickquid

All this talk about Cahoot...........anyone out there actually got one of these accounts ?.........and how safe is it putting your money somewhere on a screen, and not being able to walk into a branch......the interest rate is very tempting...but where are these people  ??? ???

Cahoot are affliliated to Abbey National. Most internet banks are part of 'walk in' high street banks. Coop Bank promotes Smile as their internet bank. INGDirect, part of the ING group, is large enough to have bailed out Baring Brothers in the Nick Leeson scam. The reason the rates are high Pammyanne is because you do your own banking and everything is automated. You are not paying for high staffing rates. However, I bet your own 'walk in' bank has internet access. Why not register and try it, then when you become more confident you can move to internet only banks and get decent rates. ;D

pammyanne

Thanks isyloo and quickquid, useful info,

I already bank on the net with a High Street Bank...

but when things go wrong.....!

theres nothing like a face to face with someone to get things sorted.

System

My daughter was left £43k in a will. She has 2 executors to the will. So far the money has been put in a NatWest Treasury account earning 3.8%. I have read about Cahoot and 5.5% but they need one name on the account and my daughter is under 21 so thats no good. Cahoot won't open an account in two peoples names and the executors will not release the money to one name. Any help would be appreciated.

Jonbvn

rambo1987 wrote: »

you do know that ICICI is 6.41%?

Rambo,

You really are not very bright are you? In 2004, ICICI bank did not even exist in the UK.

Please stop dragging up these old threads that have little meaning 3 years on.