Word of warning re. ING Direct & other online savings accounts

Rhino666

It is very easy to make mistakes with funds that need time to clear. I have used Cahoot for years but their system allows you to transfer against uncleared funds from one of your cahoot accounts to another without warning. Cahoot is then happy to cancel the internal transfer and make a charge of £20 for each failed transfer.

I know it is a little stupid to do the transfer in the first place but the online banks should certainly warn customers when they attempt silly things that ordinary busy distracted human beings do on occasion :-)