Trying to save but accused of being a terrorist /fraudster :-(

John1993_2

ThumbRemote wrote: »

Which would completely defeat the object, as OP has stated that this method is working for them as now it is obvious that a sneaky pizza means taking money from something else.

Yes, so he's going to need to track the sub-accounts himself, which takes a bit of effort, but is not hugely onerous.

It's understandable that banks will not want people to run many tens of accounts, especially if there are only a handful of tens of pounds in each, boith from a money laundering perspective and fro mthe point of view of trying to keep costs down to a reasonable level.

Wilkins

LeeLoo wrote: »

So is my only alternative to have piles of cash at home?

No, please follow the suggestions of many others here: use a spreadsheet or just a notebook. You don't need 18 actual accounts.

LeeLoo_2

Atidi wrote: »

Surely if it's true that you only have a few pounds in some (or even all) of the numerous accounts you have opened, then those piles of cash at home won't be very big...

... unless you keep it all in pennies :rotfl:

Some have only a few pounds because e.g. at the beginning of the month I will put £200 in the 'fuel' account and I will use it up during the month.

Goldiegirl

Back in the dim and distant past, about 30 years ago, a girl I used to work with micro-managed her money in this way. She had accounts for everything - gas, electric, water rates, household rates, house insurance, life insurance, mortgage, etc, but even she didn't have 18 accounts.


We both worked for a building society, and even though she was a good friend, it was a right pain doing her 'financials' for her. £3.42 here, £6.05 there....even now it makes me wince.


Of course, these days people can do the transactions themselves, but it's understandable that there has to be some sort of limit on the accounts held, especially if each account has only a few quid in them.


As everyone else has said, consolidate the accounts into wider categories and keep track with a spread sheet or note book.


I doubt very much if anyone called anyone a terrorist. In fact if they did suspect you of terrorism, they wouldn't have said anything, as it's an offense to tip off a suspect!

LeeLoo_2

mgdavid wrote: »

One customer, 18 accounts?
if ever there was a good case for charging a tenner a year for every account, this is it !

The thing is, they are all online accounts. I do not have a debit card for them and do not get paper statements, only a virtual one emailed every quarter. I do not set any direct debits on them or anything like that,they are simply used as repositories.

LeeLoo_2

alanq wrote: »

I cannot afford the time now to look for a link but I recall a case where someone was advised to open several (not 18!) accounts by NatWest staff and then had their accounts frozen for suspicious activity BECAUSE they were using multiple accounts.

I can quite understand why a bank would wish to limit the number of accounts but "suspicion of money laundering", "data protection" and "health and safety" seem to be used as cover for all sorts of unrelated decisions.

[Even Barclays Openplan provides (provided?) this facility for only up to 12 pots.]

I hope that does not happen to me. I spoke to barclays but they no longer offer that to new customers.

LeeLoo_2

Everynamestaken wrote: »

lol, this thread has brightened up my friday afternoon.Pure entertaininment. Just a simple suggestion. Catagerorise them, so grocery, pizza, school meals all go into one account. holiday fund is one account, and the rest is savings account 2 etc.Lets be honest, all those accounts are a pain for the bank and a pain for you really in essence. I wouldn't be upset over this.

I understand what you are saying and for years that is how I have operated, but as I said this new system works for me.

Rather than an account with a lump of £500 in it I like KNOWING there is 300 separated for groceries
100 for school dinners, 50 for after school clubs and 50 for Pizza, movies, and 100 towards the holiday so at the end of the year that has built up to £1200.00.

Goldiegirl

LeeLoo wrote: »

Rather than an account with a lump of £500 in it I like KNOWING there is 300 separated for groceries

You can still KNOW by looking at your spreadsheet or notebook

LeeLoo_2

Archi_Bald wrote: »

Use a spreadsheet so you can have 18 or 180 or however many virtual accounts?

If you don't know how to use one, look for a tutorial, such as this one: http://www.gcflearnfree.org/googlespreadsheets

I am really not good at spreadsheets. Also the only computer I have is my phone which does not have excel on it. The main thing is that it is not in real time. Every payment you make means faffing with excel.

JuicyJesus

LeeLoo wrote: »

I understand what you are saying and for years that is how I have operated, but as I said this new system works for me.

It also costs the bank money and exposes them to risk, and therefore they are well within their rights to stop you doing it.