Multiple accounts for interest

Ed-1

colsten wrote: »

I'd actually be a lot more concerned if they didn't look at my accounts because only by looking at them can they determine that there's no money laundering happening from my accounts.

And this is the problem - they don't know that there's no money laundering going on from your accounts. It's all about the level of risk that there is or isn't. That there might or might not be. And that's subjective and where MLP can leave an innocent customer in a mess, particularly as they can't ask the customer to explain the activity...

Returning money to the same account it came from is a lower risk of money laundering than someone sending money in and out to a different account. It's why often where a bank requires a linked account (e.g. Ford, Marcus, Chip etc.) deposits have to come from that linked account and be returned to the same account before the linked account can be changed:

Can I change my linked account?
Yes, you can. If you need to change your account just head into live chat and ask. We will need to end the connection to your current bank. Because of money laundering regulations, we will also have to send back any money you have in your Chip account to that bank account. You'll then be able to link up another account. https://getchip.uk/faq