Cahoot - anyone received interest yet?

charlieboycat

Mine was credited on time. What's more they credited the whole of the interest on the joint account gross - most unexpected (and in direct contravention of tax legislation) because I never submitted an R85 and my wife revoked her R85 in writing in January.

Makes up for their lousy BACS transfer delays - transfer on a Monday/arrive on the Wednesday is the high street bank rule, whereas Cahoot's transfer on a Monday/arrive on Thursday rule not only deprives us of a third day's interest but sometimes turns out to be transfer on a Monday/arrive on the Friday. I eventually succeeded in getting compensation from Cahoot for the Friday arrival (armed with a written statement from the transferee bank that the so called Monday transfer could not have been released into the BACS system by Cahoot until after close of business on the Tuesday !!) but what a hassle.

My overall view is that Cahoot offer a good rate but a poor service - ok to put money away for 12 months and then close out, but not much good for regular cash movements.