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      17.10.2010 10:50
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      Truly awful.

      Like many other people, I signed up with Cahoot several years back to take advantage of their decent rates, loan and credit card. Over the years I have been a loyal customer, having paid off both my credit card and loan with them. Seemingly as long as things are going smoothly with you, they are a great bank to be with.

      Then, like so many other people, I hit a bad patch and reached my overdraft limit with them. This was not a major problem as I knew I would be able to pay enough in after the next pay day to ensure I did not go over my limit. Unfortunately, due to a delay of one day, my debit interest was charged, and I went over my limit by £8. The very next day, £50 was paid in, bringing me within my limit, but less than a week later, a letter arrives stating that I will receive a £30 charge for them pushing me over my overdraft limit - even HSBC aren't that mean! After sending 4 e-mails, and waiting a week for no response (I thought this was INTERNET banking?), I phoned them. The person I spoke to, who I could barely understand because of a strong Asian accent claimed that they had tried calling me, leaving messages on my answerphone and e-mailing me, yet there was no evidence of this - they tried to blame my spam blocking software, which has cahoot set up as an exception to allow everything through, and then advised me that, if I ignore their correspondence, then I only have myself to blame for being charged.

      That made my mind up, I will be in a position shortly to pay off my overdraft with them, and on that day, I will be cancelling my account and telling these arrogant money grabbers where to go.

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      15.09.2010 11:43

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      Absolutely atrocious. I've been with them for years and one of the attractions was a revolving loan (use when needed). The bank was average but since Santander got their grubby mitts on it things have gone down hill. The flex account (revolving loan) was moved to Santander. I cannot see it online, the interest rate has shot up to 20% and it has become a fixed term loan. All without my agreement. Recently they "upgraded" their online banking system - it was down for longer than expected, my Direct Debit payments are now showing as "Direct Debit Payment, 0" instead of who the Direct Debit is to, making it impossible to review/manage. My employer made a payment into my account using fastpay but Cahoot do not subscribe to fastpay subsequently I missed a Direct Debit getting charged £35 because they cannot process fastpay. AVOID THIS BANK.

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      07.08.2008 23:27
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      if you want crap service,duplicitous security standards and loads of hassle be in cahoots with them!

      A complete pile of s@%t! I joined them a few years ago for a flexible loan at a decent ish rate. During they following years they appeared to put the interest rate up monthly. I think at last sight (this is another matter) it was about 19% - higher than my credit card.

      I recently had problems logging in. I know my details were right I had (go on shout at me !) written the login details down and filed them somewhere safe (honest!) so I knew all my memorable data and password were right. I don't know if my fingers or my caps lock was to blame but I got locked out. I rang the call centre who took me through security and then said they could change all my details. No need said I - I know the details I just need the account unlocking and I will type it again very carefully ! I was told they couldn't do that and insisted on changing all my logon details. Again they verified security, this included my telephone number which had changed since I opened the account. They informed me that they couldn't now do anything with the online banking until I had completed a change of phone number form, but were happy to deal with me over the phone. The form was duly sent to me. Two weeks later I still didn't have the form and still couldn't get into my account. I was finally sent the form. The letter stated "we have received a call today but could not verify the caller using the security information we currently hold". That's funny - they did all right last week when I rang them or do they just send random change of details forms out to their customers ? There was no change of phone number form, just a form to reset my security information, and this daft letter claiming I had failed security. As well as the form they also wanted me to confirm all my ID using the same documents they presumably have on file from when I opened the account. Nothing has changed except my phone number ! They claim they can't let me back into my account online as my security information is incorrect, yet they will happily correspond with me through email and also, after I HAVE PASSED security discuss with me my account, balance, etc. I have never been so incensed by an organisation. They claim they have my security as a priority yet I can ring up and supposedly after failing security discuss all my account details. Not yet has anyone hung up on me as I failed security ! I have online banking with Abbey Business, Nationwide, Alliance & Leicester, Barclaycard, MBNA and Smile and have NEVER been asked to send a whole barrage of ID documents in for a change of phone number. If I forget a password after the security check the password is changed there and then. Most organisations ask you to confirm your phone number and change it if it's wrong.

      Unfortunately I need to print statements off from the online banking system so have no choice but to jump through their circus hoops. As soon as it's done I'm closing the account and also considering closing my Abbey Business account with them. I am totally fed up with the lot of them. If I didn't need to keep statements for my accountant I would have just cancelled the direct debit payment and let them jump through the hoops instead. Absolutely fuming !!!!!!!!!!!!!!!!!!! Why the hell do I have to give them a rating ?????????????????? They aren't even worth one star !

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        12.07.2008 08:25

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        Cahoot was ok five years ago. Their savings account had reasonable interest rates with very few or no tiering, it was easy to get a loan and their credit card had one of the best rates around.In July 2008, it is a very different story. The best of the savings account interest rates are kept from most customers by at least seven tiers. They do not offer the credit card to new customers, and existing ones are given a very raw deal - no low percentage balance transfer offers, poor account functionality and bad customer service. Get this, cahoot says the credit card does not have a customer loyalty dept! Every other card has one, along with the transfer offers.Don't sign up with Cahoot - use a comparison site and take advantage of the much better deals out there.

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        20.03.2005 10:20
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        Like most people, I was tempted to join cahoot thanks to their incredible interest rates, which knocked spots off those on offer from “traditional” banks. That was a few years ago, and since then the “traditional” banks have caught up and got in on the act, and it is fair to say that as consumers, we now have more choice than ever before when it comes to where we put our money.

        With so many banks competing, and offering similar interest rates, other considerations deserve our attention. And the main battleground, as far as I am concerned, is customer service, and this is what lets cahoot down so very badly.

        My experiences have led me to take the decision to close my cahoot account, and I would urge readers thinking of joining them to tread with caution.

        Here are a few incidents that have happened in the last six months. I have not included any incidents from before (and there are many)

        - Cahoot send a new debit card, which gets lost in the post. Despite repeated emails, I receive broadly identical replies telling me to “wait another day” for it to arrive. Eventually cahoot agree that the card has been lost and send me a new card.
        - The card that I receive lasts for about a week, before the laminate starts peeling off. I have never experienced this with a card before! It gets stuck in a railway station ticket machine, so I order a new one. Cahoot actually send the card straight away, but interestingly, despite the first card getting lost in the post, this third card is sent as “active”, meaning that it is ready for use by anyone who receives it. Thankfully, it arrives intact.
        - My balance on 27th of the month is £400.03 in CREDIT. My overdraft facility is £500. Mysteriously, cahoot assume that the 3pence takes me over my overdraft limit; despite the fact the balance is a credit amount, not overdrawn! Cahoot charge me £25.00. I email cahoot who tell me that I was overdrawn on 27th March, and after I point out that the date they refer to was a credit amount, they eventually refund the £25.00.

        I am currently in the midst of a minor “battle” with cahoot, after they charged me, again incorrectly, for an error. And here is where they do the utmost to foil any attempts to contact them.

        Telephone banking – a constant queuing system is in operation. And staff do not have any powers to do anything with your account. “24 hour banking”? - if you need anything other than a balance request or transfer, forget it – call back between 9 and 5, Monday to Friday.

        Email enquiries – this causes the utmost frustration. Cahoot offer a “secure messaging” facility where you can send short messages to them. Normally a reply is received within 3 days. However, if you need to reply, you cannot contact the same person. The email goes into a central file, and is picked up by a random staff member who NEVER reads the previous correspondence. So you receive a set reply, and have to explain everything everytime. This is despite each message having a “tracking number”. Cahoot will happily discuss your account via email this way, until you ask for a manager. Then, “email security” become an issue, and you have to send a secure message via their website. This limits you to 500 characters, so you had better be succinct! And again, a reply will come from somebody who appears to have no access to previous correspondence.

        Closing your account – I have tried to do this on numerous occasions. Each time, the bank displays an “error message” or asks for a password which is never recognised (since you are already logged in to the account this is simply bizarre).

        All in all – I regret the day I joined cahoot. I am currently setting up a new bank account elsewhere. If you are always in credit, then the only thing you ever have to worry about is their decidedly dodgy card security and website access. (Remember, this is the bank that had a “shocking” security breach on their website recently.) If you are like me and sometimes need to contact someone then I would urge you to pick another bank, as cahoot simply are not interested.


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          30.03.2004 18:06

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          I have been with Cahoot nearly from there start up. I've had no major problem with them other then there web-site was out of action on a regular basis at one point. My only gripe with Cahoot is their facility for paying in monies into your account. You either have to post it or do it through the Post Office (who post it instead). Seeing as Cahoot is an off shot of Abbey it would be better to be able to pay money into your account over there counters. Cahoot have been good to me, i have an overdraft limit on my Current account, a Cahoot Credit Card and a Cahoot Flexi-loan which i can increase or decrease every 3 months subject to me not falling behind with payments. I also bank with another bank but Cahoot is my main usage account.

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          26.03.2003 17:16
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          Cahoot is a division of Abbey National plc, who used to be a Building Society (remember them?) before demutualising then broadening its product range in order to leave it in its present state. Cahoot offer a whole range of financial services: current accounts, credit cards, loans, savings accounts, investment services and share services. I shall focus on just one of these services, the current account. What? ===== Cahoot is an on-line bank, operated over the Internet. That said, you can not do everything over the Internet. Cheque deposits are made by post, or at the Post Office. Up to £500 cash per day can be withdrawn from Link cash machines in the UK, and from Visa cash machines around the world. The cash card also acts as a cheque guarantee card up to £100, provided you choose to have a cheque book, but more on that later. The current account also has a very handy automatic interest free overdraft of £250. Setting Up ========== Setting Up a cahoot current account can be done almost completely on-line. Besides submitting the usual details of name, address, employer, income, etc. you also need to decide on a username, password, memorable year, and memorable place. You also need your mother?s maiden name. Not everything can be done on-line. Certain formalities are still required to be done by post: signing the application, and providing two proofs of identity and address for anti-laundering requirements. During the set-up you specify certain features of your current account. You can choose to operate the account with or without cheque book - cahoot say that one can live without a cheque book, but I?d like to see the people at cahoot try that! Without a cheque book you get a higher rate of interest. Without cheque book: £1 - £249,999 . 3.45% AER £250,000 + .... 3.25% AER With cheque book: £1 - £249,999 . 3.3
          5% AER £250,000 + .... 3.25% AER Cahoot offer a guarantee that the interest rate will not fall below the Bank of England base rate less 0.5% for more than 30 days until 31st December 2003. (There were 3 tiers of interest rates, but they have now cut back to 2, and made the interest rates less competitive in the process. That said, cahoot still comes out top in the MoneyFacts list of current accounts.) You also choose whether to have a monthly fee with a lower overdraft rate, or no fee with a higher overdraft rate. Obviously this is to tailor the account to your best advantage depending on whether you spend more time in credit or debit: .................... Limit .... monthly rate . fee ..... APR Interest only . £3000 . 0.5650% ...... £0 ....... 7.0% Fee only ....... £3000 . 0% .............. £13.65 . 5.6% You also specify what day of the month you want your interest paid (which is also your statement date). There are no postal statements, only on-line statements which are kept around for a year. You can print out the on-line statements, or order copies for a fee (see below). Logging in ========== Once your application has been successful you can then log in and operate your account from the cahoot web site. Having clicked on the log in link you are prompted for your username and password, plus one of the memorable year, memorable place and mother?s maiden name. (This is a lot quicker than the login process for egg accounts.) There are then seven sections: Account status -------------- View your recent transactions, i.e. since the last statement date Statement --------- Select a previous statement, then view the transactions during that statement?s period. Transfers --------- Set up transfers between your own cahoot accounts. Payments -------- Payments are made by BACS (fre, but ca
          n take 4 days) or CHAPS (£20 fee, but next day). You need to specify the sort code and account number of the payee, along with an optional reference number that may be required by the payee in order to identify you, and the date on which you wish the transfer to take place. You can make one-off payments, modify your address book of payees, make a payment to someone on your address book, and check your future payments that you have set up. Standing Orders --------------- You can list and create standing orders to named recipients for named sums over specified periods. Direct Debits ------------- The is your list direct debits including the reference, amount, last date and frequency ? but these details are not always accurate! Account Manager --------------- This is where you can perform all the other odds-and-end associated with operating your account. Activate new debit card Request new or replacement debit card Request New PIN Make one-off funds transfer from another UK bank Change overdraft limit Change rate and fee option Order new cheque book Order new paying-in book Order tax deduction information Change your tax status Remove cheque book option Duplicate paper statement Insurance claim form Order deposit envelopes Stop payment on a cheque or range of cheques Close your cahoot current account - not something you normally find with any on-line account! Switching ========= Having opened your new cahoot current account, if you want to switch direct debits, standing orders and salary payment from your old bank then order a switcher pack from cahoot. The switcher pack consists of a few simple forms for you to fill in: old bank details for closure and direct debits, employer for salary details.
          Cahoot do the rest, but it can take a while for your old bank to send through the details to cahoot, and you?ll need to keep enough money in the old bank account to cover direct debits and fees as your old bank drags its feet then loses the letter telling them to close your old account! Web Card ======== The Web Card basically presents a unique credit card number for each on-line purchase. Selected partners also allow the Web Card to automatically fill in the payment details on your order form. Contact ======= The contact section directs you to a series of FAQs on various subjects. If your question is not covered in the FAQ, then leave your message for the cahoot staff to get back to your. Fees ==== Visa cash machines levy fee of 1.5% of the transaction (minimum £1.50). Debit card transactions abroad attract a 2.25% commission, plus a Visa transaction fee. Duplicate cheque ................ £2 Duplicate voucher ............... £2 Duplicate statement ............ £2 Returned cheque ................ £20 Returned direct debit .......... £20 Unpaid standing order ......... £20 Unauthorised overdraft fee .. £25 Unauthorised overdraft rate . 21.9% APR

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            01.10.2002 19:01
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            • "Must keep an eye on terms & conditions"

            I have had a current account with cahoot since January 2001, and have found the bank absolutely fine in most respects. Top of the list is their in credit interest rates, which are among the highest available for a "current account". I use the quotes, because there is an option to have the account without a cheque book, which makes it a very competitive "savings account". They do mess around with interest rate thresholds, though: e.g. 3.8% for balances up to £50,000 - and I have known the threshold change to £25,000. (They do warn you beforehand.) The website is clear. As a blind user, I find it accessible, which cannot be said for every banking site. There used to be a good interactive non-Flash demo, but that has gone - unfortunately. Each webpage has a branding slogan, such as "{in focus}", "{in control}" - hence my title. And when filling in forms (e.g. to set up a bill payment), the current step of the process in marked with braces {}. For a screen reader user, this is more useful than just using colour. Customer service is friendly enough, but if you're in a hurry don't hold your breath - you might suffocate! I have on occasions waited 3 days for an email reply; and if you phone at the wrong time, you get "All our customer service operators are busy ..." Not tip-top for a bank. Funnily enough, this is the only bank where I have filled in a survey about, among other things, customer satisfaction! Statements are online for 12 months. For some reason though, when they are changing statements between months, there is often not a current statement available for one day. This is a little irritating. Of course, interest rates are not as high as they were, and they are just about to drop below the base lending rate of 4% - but they are still very good. And now cahoot have launched a new savings account with a higher interest rate - but that's another
            story.

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              26.08.2002 23:55
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              I have been with Cahoot for over a year now, and will stick with them as I believe they are offering the highest interest rate available on a current account. The current interest rate is 4.1% Gross AER, if you choose not to have a cheque book on your account. They have now just launched the Cahoot Savings account, which offers a rate of 4.3% Gross AER. I have now opened one of these accounts and moved most of my money over to it, to benefit from the higher interest rate it offers. Although the savings account offers instant access to your money, if you need to make a withdrawal, the interest rate is reduced to 3.9% AER for the month you make the withdrawals. Overall an excellent service, with the highest rate of interest I am aware of for these types of accounts. There customer service team have always responded to emails promptly - usually within 24 hours. Although their telephone support team don't seem to know what is fully going on - Maybe I have just been unlucky with the operators I have spoken to.

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                06.08.2002 02:19

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                • Ignorant

                Cahoot are an absolute disgrace. I recommend that you go with egg who know how to treat customers. - Advantages: I'm no longer one of their customers - Disadvantages: Rude, Disrespectful, Ignorant

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                20.07.2002 06:43
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                I'll have a rounder opinion of cahoot when they find my money. They claimed to have made a credit card balance transfer for me, and when I received their statement I paid it in full. More than 2 weeks later I discover the other party still hasn't received their money and cahoot is in no hurry to find out where it is, and why should they be - they're sitting on £1500 of my money, and another £16k in the current account. I've performed literally hundreds of transfers like this over many, many years and with many banks - I've NEVER had a payment go missing or experienced such complete apathy from Customer Services.

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                  04.07.2002 04:23
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                  • "poor customer relations"

                  I've had a joint credit card account with cahoot now for a good year and a half. I'm sorry to say i'ts been a rocky relationship without too many sunsets - just lots of bird crap falling on me from a great height. I'll make my points now... Firstly the cards turned up with our names mis-spelt. Then strange charges started appearing on our account from places and companies we'd never heard of. Also, a cheque for £1000 which I'd sent in to debit my account was cleared and cashed into someones account - not mine. It's not like I have a common name or anything!! (Fedele Rinaldi) These problems are being solved, only due to countless phone calls to the cahoot 'helpline'. I've never received an apology. If i was a pensioner, I'de have eaten myself through thousands of humbugs by now with the stress. My Motto: KICK CAHOOT UP THE SHOOT WITH A VERY BIG BOOT.

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                    04.06.2002 23:57
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                    I have only had my current account for a few weeks, this weekend there 'system' has been down which meant I was unable to withdraw any money from cash machines or use my debit card. This is really unacceptable for any bank! I can live with websites being down, but not being able to get to my money for days on end....not good enough! However apart from this I haven't had any other problems and they do pay a very good interest rate on the current account, so I will stick with them a bit longer in the hope that this is just a glitch.

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                      25.02.2002 06:08
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                      For interest rates on credit cards and current accounts it's hard to beat Cahoot. But there's much more to a great card than just the rates. I've had a Cahoot credit card for over a year now. The application process was simple and quick, the card arrived promptly and i've had no acceptance problems in any outlet. Periodically there are balance transfer incentives, namely 'reduce you balance by 5%', which offers more immediate rewards than simple lower rate balance transfer options offered by other cards and are truly an inspired tactic. I usually transfer the balance and then transfer it straight back out again. One big downer is they recently reviewed my APR and changed it from 9% to 11% without informing me. The emailed enquiry I sent as to why this had happened was answered within 24 hours so the service is good in that respect. I also make use of the flexible loan facility. This works much more like a credit card than a loan where cash can be called on whenever necessary and the interest rate is fixed regardless of amount borrowed. The repayment amount can be varied within certain minimum limits to whatever amount is most suitable. There is also an online calculator to help you work out the repayment level required to pay off the loan within certain limits. The current account I use as a savings account as it certainly gives a much better interest rate than any instant access account on the market, at least that I could find. A slightly higher rate is offered by not having a chequebook. I've had no trouble getting the debit card accepted in any outlet. I was a little concerned that only two paying in envelopes were provided with the account but I made a request on the website and a paying book arrived within two days. A telephone helpline number is provided on the back of all the cards. I have called it on a few occasions and was pleased to find the service friendly, efficient and I wasn'
                      ;t kept on hold for ages. The site is fairly easy to navigate, although it has been down a few times since i've had the account, but the provision of adequate telephone services means that this is not too disastrous. All in all I think Cahoot offers great service and rates. It's not perfect by all means, but it works well for me.

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                        19.10.2001 19:35
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                        I joined Cahoot because I was interested in their high interest rates - I didn't want to tie my money up in an ISA as I was going to be spending most of it on home improvements. The interest rate when I joined was very good - 6% as I didn't want to lose interest for the priviledge of a cheque book. Unfortunately the interest rate keeps falling and is now 5.5%, I believe. Current interest rates depend on whether you want their chequebook and how much money you want to deposit... Balance £ (GBP) Gross p.a./AER without chequebook 1 - 49,999 5.5% 50,000 - 99,999 5.0% 100,000 - 249,999 4.7% 250,000+ 4.5% Balance £ (GBP) Gross p.a./AER with chequebook 1 - 49,999 5.4% 50,000 - 99,999 4.9% 100,000 - 249,999 4.6% 250,000+ 4.5% I find that the Cahoot website is frequently down. Which is very irritating. Also they have made some rather big errors... You have to send money to them by post (or pay it via the post office - who then just send it by post anyway). I sent Cahoot a rather large cheque back in July which they claimed never to have recieved. I gave them the benefit of the doubt. Told the person whose cheque it was - so they could cancel it. Then they wired the money instead. This Monday (October 2001 now) I nearly had a heart attack as my Cahoot balance was much bigger than expected... strangely the cheque had now turned up and been paid into my account. This would have been fine if it was from a large institution (he, he, he) but the money had been taken again from a family member!!! Now I have all the hassle of getting the money back to them. Why did the cheque go in when Cahoot had said it was lost in the post??? If I hadn't checked my balance I would have been defrauding my family... What r Cahoot doing??? So far I am not very impressed...

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