time card number for each online transaction (controlled payment number), as a measure to combat card fraud. A flexible loan service was discontinued in the second quarter of 2009 to 2010, and it was later learned that the product's high interest rate (for some 22%) had been 'frozen' and transferred to Santander at some point. The flexible loan was designed as a credit facility, similar to a credit card, to borrow and repay as necessary, offering attractive interest rates at first. Cahoot also provided current accounts, though it withdrew these from new business in February 2010. Before January 2010, Cahoot informed customers that their loan limits had been "reviewed" and gave 30 days' notice that the withdrawal service was to cease. On 7 June 2015, Cahoot ceased to pay interest on current account balances. In April 2020, Cahoot withdrew the interest-free overdraft facility on its current accounts. Cahoot introduced the Faster Payments service on 1 January 2012, the latest date possible under Financial Services Authority regulations. References External links Banco Santander British companies established in 2000 Banks established in 2000 Banks of the United Kingdom