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Power failure leaves Cahoot customers 'locked out of accounts'

Customers of Cahoot have been reassured of the bank's financial stability, after a power cut left them shut out of their online accounts.The internet bank was hit by the incident on Wednesday and some payments were left unprocessed until Thursday as a result.Cahoot is owned by the Santander Group - a Spanish financial services firm that also controls mortgage lender Abbey.Many customers have become increasingly nervous over the safety of their deposits, following the collapse of Icelandic-run popular savings provider Icesave in the global financial turmoil earlier this month.Matthew Timms, managing director of Cahoot, said that the firm - which has around 750,000 UK customers - was not under threat in this way."Cahoot is part of the Santander Group, one of the world's most successful and well-capitalised banks with nearly 70 million customers, and remains a safe place for your money," he said.

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