Numerous accounts. Negative consequence?

sloughflint

I don't know if anyone else is like me...... Since finding about this site and forum, I've been opening lots of different accounts to get best deals, cashback site promotions etc. I will need to keep a close eye on them.
So far: A&L ( current account, online saver and regular 10% saver)
Cahoot saver X2 through quidco
HSBC online saver Easter bonus.

When I started, my intention was going to be to keep certain accounts dormant when they stopped proving to be the best deal ( eg A &L at the end of the 10% reg saver deal).
However some places impose penalties if accounts are left empty.
Is it worth listing here the various good deals on at the moment and whether there are penalties for leaving accounts empty ( I think I read A & L was one)?

ReportInvestor

I can't see the point of keeping old accounts open but empty. Surely it just generates extra paperwork, post and junk mail?

Is it so that you can open a new account at the same institution (when they come up with another top payer) without any ID hassle?

sloughflint

No it was just a quick way to make easy money.
HSBC £40 ( partner and I). Will probably put in min £500 and move after 30 June, Cahoot saver ( £20 cashback through quidco each), A&L purely for the 10% regular saver side of things. Will probably close everything with A&L down at the end of the 12 months unless rates are competitive at the time.

Dagobert

Read the T&Cs of each and every account you open!

The A&L current account is one of the ones you can't leave dormant unless you want to pay an underfunding fee.

It can be an advantage to keep accounts open. ID is one of the issues. Also you might get beneficial junk mail, which informs you about promotions. Or you might get referral vouchers.