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 amazing. You pay £2 per month and then get cash back on bills you pay such as council tax, utility bills etc. Also you receive interest on your balance, monthly, 1% for £1,000, 2% for £2,000 and 3% for balances over £3,000. This is far better than any cash ISA so long as you are not a higher rate tax payer."
"For many years I banked with SMILE, but I started to get a little worried about the current state of the Coop Bank - so I decided to switch to a Nationwide Flexplus Current Account. Why I haven't switched sooner, I don't know. The switch went very smoothly with all my Credits and Direct Debits working faultlessly and - guess what - I get paid interest on my current account. The very reason I started banking with SMILE all those years ago. Perhaps Nationwide should..." more
"I moved to nationwide after 17 years with NatWest. I moved because of the 5% Interest rate on the flex direct current account 13 months ago. I have never looked back since then. I absolutely love it. I have mobile and online banking which I find quite secure, accessible and easy to navigate. I have had no problems with them. They make it so easy to carry out transactions and I just find my relationship with them so smooth. I have no regrets. Even though my interest..." more
"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
Get fast answers to your money questions, Expert insight, top tips & much more...
Enter our competition to win an iPad Air by reviewing a financial product you have.
The more reviews you add the better your chance of winning.
Terms & Conditions
Copyright © Dot Zinc Limited 2014. All rights reserved.
money.co.uk is a trading name of Dot Zinc Limited, who are authorised and regulated by the Financial Conduct Authority.
FCA Registration Number 415689.