Is it safe? / cahoot
Is cahoot safe?
Yes — cahoot is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the Santander UK plc banking licence (Banco Santander S.A.). Important: that limit is shared with Santander, Santander Edge, Santander 123 — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
Santander UK plc
Parent company
Banco Santander S.A.
The shared-limit catch
cahoot shares its banking licence with Santander, Santander Edge, Santander 123. If you hold savings with more than one of these, the £120,000 FSCS limit applies to the combined total — not per brand. Spreading large balances across different licences keeps every pound protected. Check your spread →
The fine print (verified July 2026)
cahoot is a division of Santander UK — one shared limit. Santander completed its purchase of TSB in April 2026, but TSB keeps its own separate licence for now.
cahoot's current savings rates
- cahoot Simple Saver (Issue 17)4.32% AER
From the daily rates scrape. Compare every provider →
Worth knowing
FSCS also covers temporary high balances (house sale, inheritance) up to £1.4m for six months (raised December 2025). Compensation is automatic if a firm fails — typically paid within seven days.