Written on: 08/07/2012
I have banked with Cahoot from the start but since they have been taken over by Santander they have become absolutely dreadful. Four out of the last five transactions have been blocked for 'security reasons'. I tried to buy £1,000 airline tickets from Delta and they blocked it. These were the last two seats on the plane so I then tried to move some money from my Cahoot account to another account to buy from there - they blocked that. My wife, with her Cahoot account, then tried to buy them - they blocked that. Since they close at 8pm I couldn't call them so I used my AMEX card - no problem but I got charged for that. The next day I rang up to complain - the telephone staff can explain nothing about security and even confessed they are not even allowed to talk to them - the best they can do is to email them. After a lot of fuss they agreed to refund the AMEX charge. The next day I tried to move £2,000 from my account - to another UK high street bank - they blocked that. And so it goes on - almost everything I do is blocked - no explanation - just 'security'. All of this whilst I have £14,000 in my current account. My wife moved £20,000 into her account from the closure of some another account and the next day tried to move it to its final destination - they blocked that - again to a high street bank account in her own name. I tried to buy some bathroom stuff online and they blocked that - but later claimed they didn't - said they didn't support Safari. This is rather odd because they let you use Safari to log on but later when you have to confirm the transition (doing essentially the same logon process again) it fails.
Don't use Cahoot - since Santander took it over it is closed to new business - and they seem very reluctant to let you access your own money. I am now closing all my Santander accounts, selling the few Santander shares I got stuck with when they bought over Abbey - and moving elsewhere. Santander are in deep trouble in Spain and it looks as though they are trying to hang on to as much UK cash as they can. Get your money out whilst you still can.