I've held a Cahoot bank account and savings account since Abbey launched it as an online only bank. The main benefits: instant access online and it paid a very good rate of interest for a currant account. I could easilly speak to a UK based customer service assistant if necessary.
However over recent yaers things have gone down hill (possibly since Santander took ove Abbey). The current account interest rate has all but disappeared (0.01 I think). It is still easy to run online but the customer services dept. has been moved off-shore and is very poor. It is not their fault that their accent cannot be understood but it can be very frustrating, particularly when their skills are also poor.
Yesterday I discovered an email purporting to come from PayPal. It came from one of my business email addresses I do not use with PayPal and I know that PayPal always address you by your first name so this was obviously a scam phishing email. I went through Cahoot online 'contact' and reported the detail. The reply I received only referred to the fact that I do have a DD setup with PayPal but with no referrence to the scam. Why did I bother.
In the 'old days' I would have given Cahoot 5/5 but now barely 3. I am seriously considering moving my account.Ease of use online
Phone line asks for Customer id - then tells you you have entered and invalid ID! Your get three chances and none of them works. Application form also doesn't work. Cahoot have had this problem for months. Call centre cannot put you through to anyone who can fix the problems, as they are "not customer facing" You can saythat again!
Posts within the money.co.uk community represent the views, experiences and opinions of members and experts only. They should not be taken as financial advice and should not be followed without further research.
"Switched to cahoot when First Direct stopped paying interest on my current account AND started to charge for it! cahoot subsequently taken over by Santander, but that doesn't seem to have had any adverse effects.
Simple, straightforward online banking ... plus the interest!"
"an internet back that cant even keep its internet site going.... very high charges, awful customer service, and illegible online statements!"
"Cahoot current accounts work fine, as long as their computer systems and your internet access is reliable. There is no telephone support."
"internet based and easy to use"
"Very poor, very poor and very poor. What can I say? It offers no value and I should stop it really"
"This account is great primarily because you get 3% interest on savings of up to £20,000. You can also earn cash back on many purchases and expenditure on Santander mortgages. You need to have an income of £500 every month and set up some direct debits. For the income it's ok if you just transfer £500 out of your account and transfer the same money back in."
"I applied for an account with these monkeys online and was told that I was accepted and to wait for them to contact me. I received a phone call saying that I should take my ID to my local branch. I took my ID and was told that my application had been rejected even before they looked at my ID. I told them that I had been called and told to bring my ID. They insisted that no one would have made such a call. In other words I was a liar. I showed them their number in..." more
"After 15+ yrs with this bank and a spell of unemployment they withdrew my banking facilities and gave me 2 hrs to clear out any funds. All after allowing me to run up a £3500 overdraft while out of work. I later found out that I should have had 30 days notice in writing. Poor service, bad internal communications. Certainly not 'a family member' as their recent advertising implied. I am now complaining to the Financial Ombudsman.
I recommend ALL phone calls..." more
"Contacted by Barclays three times today in respect of fraudulent transactions on my debit card. Called them back the first time, hung up after 10 minutes on hold (on a premium number I might add). Called again in the afternoon and waited for 15 minutes before I got through to a call centre in Asia. This was after having gone through a protracted telephone menu system. Customer service rep told me I'd need a new card, couldn't update my address and couldn't reverse..." more
"I have banked with the Co-op both personally and with my business. I have felt for many years they were more concerned with furriery animals than their customers and why I have stayed with them I do not know. They have held security for my business overdraft but pulled the plug when the business took a down turn following my illness. The fact that my business had banked with them for almost 30 years with no problem and they held far more security than they needed..." more
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