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#1 James

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Posted 30 March 2006 - 11:11 PM

I'm thinking about opening a new savings account, with instant access, and I would like to know what you would recommend.

I'm thinking about getting the Cahoot Savings account which offers 4.85% AER (4.75% gross) for £1+ with daily interest calculations paid monthly. http://www.cahoot.co...asy_access.html

Although First Direct offer one with 5.00% AER (4.89% gross) the rate is only until 1 September 2006, and they only pay interest each month as long as you don't make any withdrawls, which seems a bit mean. http://www.firstdirect.com/saveinvest/

I already have an Egg savings account, and I'm very happy with their service, but I want to see if I can improve upon the rate of 4.5% that I'm currently getting. http://new.egg.com/v...iew_165,00.html

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#2 Dazza

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Posted 31 March 2006 - 08:48 AM

http://www.fool.co.u...=isdwftn0030008

Try motleyfool website i can see a fistdirect account with 5% aer instant access

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Your obviously mistaken me with someone who gives a fig

#3 croesus

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Posted 31 March 2006 - 09:58 AM

That's the one with the restrictive terms, Dazza. Cahoot does what it says on the tin, and is the highest rate without restrictions on This Is Money. Cahoot customer service can be a bit clunky if you want to do anything unusual like pay someone abroad, but for general use it works fine.

Edited by croesus, 31 March 2006 - 09:58 AM.


#4 Axean

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Posted 31 March 2006 - 04:49 PM

Another site to check is http://www.moneysavingexpert.com/ .
It provides the same results given by Dazza and Croesus.
First Direct 5.00%restricted
Cahoot 4.85%

But it also brings up ICICI Bank 5.15%, but mentions there were some problems when this mamoth indian bank opened here.
http://www.moneysavi...098730527,15721,

You should also have a look at the forums provided by www.moneysavingexpert.com

Edited by Axean, 31 March 2006 - 05:00 PM.


#5 James

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Posted 31 March 2006 - 06:05 PM

Thank you Dazza, Croesus and Axean. It appears as though your findings match my own so I will probably go with the Cahoot account. If anyone already uses Cahoot I'd like to know whether you think their customer service is any good.

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#6 rachel

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Posted 31 March 2006 - 06:41 PM

I have a credit card with them James, and they have always been very helpful. Saying that, seeing as you do most of it online, I think I have only ever spoken to them twice! :)

#7 ally

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Posted 05 April 2006 - 01:28 PM

How do you pay cheques or cash into a cahoot account?

#8 gekko

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Posted 05 April 2006 - 01:41 PM

Cahoot is a division of the Abbey so I assume you can avail yourself of their facilities. You can just post cheques to the bank anyway - that's what I always do as I'm never near a bank during opening hours.
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#9 Axean

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Posted 05 April 2006 - 04:16 PM

I dont think you can pay cash and cheques into a cahoot savings account. You have to transfer money into it from another account.
But you can pay in cash/cheques for a cahoot current account using the post office.
Not sure about this but I think its something alongs those lines.