Cahoot is a part of Santander Group. The Santander group is the fourth largest bank in the world by profit and eight by stock market capitalization. Cahoot is the internet division of this group, which provides internet – based banking services. It was launched as the internet – based banking brand of Abbey National plc in the year 2000. It is based in Coventry, England.
Being completely technology driven, it has to have all its technicalities updated. And it is doing a good job of it. Apart from the computer, Cahoot’s current and credit accounts can also be accessed from mobile phones. There is tele - banking service that gives you access to your bank account statements and balances, allows you to make transfers within accounts and even send money to other online accounts.
The main products offered by Cahoot are technology for fast banking and a variety of products to suit everyone’s requirements. Apart from the usual banking, Cahoot provides loans, credit cards, insurance, mortgages and even share trading.
The interest rates for current accounts are around 3% mark with an automatic overdraft facility. This application also includes free purchase protection. It offers credit cards which come with cash back deals, offering upto 10% cash back. These are favourable to regular payers as it offers upto 6 weeks pre-statement credit. The credit cards can be repaid either by paying interest or by paying a fixed sum. The latter becomes a better option for people who are under high debts. Another product offered by Cahoot is loans. The rate is as low as 6.5% and a client has the flexibility to change, close or overpay amounts whenever required. Cahoot has won a few awards for its products like two awards for the Best Credit Card and one for the best authorized overdraft.
However to ensure that you get the best products from the bank, please compare Cahoot to the rest of the internet banking services available in the UK, with regards to the accounts available, rates on loans and share trading, the features of various credit cards and other overdraft facilities.
