Can having numerous accounts with the same bank cause any problems?

UKSBD

Logged in to my Lloyds account today
When counting my Scottish Widows pension and my Mortgage it appears I have accumulated 16 accounts over the years !
Can having numerous accounts cause any problems? (8 of them have nil in them, but there is no way of cancelling them online)

Thrugelmir

Under Account Services (for each individual account) there's an option to close.

UKSBD

Thrugelmir said:

Under Account Services (for each individual account) there's an option to close.

I've tried that numerous times over the years and always get a message
"There's a problem...

 1280371 : Sorry, we’re unable to close your account online. Please visit your nearest branch at a time convenient to you so that we can close it for you."

Tried in my local branch and they couldn't do it either - This is one of the reasons I have ended up with so many 

Thrugelmir

I've just closed an old regular savings account with no problem. 

soulsaver

If any are current accounts switch them out using the CASS. Try to grab any switching bonus available, too. If it looks like it will work, put a few ££s in so there is something to switch...

colsten

 UKSBD said:

Can having numerous accounts cause any problems? 

What sort of problems do you envisage?

What types of accounts do you hold?

dunstonh

When counting my Scottish Widows pension and my Mortgage it appears I have accumulated 16 accounts over the years !

Pensions are not accounts.  And arguably, neither are mortgages.   So, what else are you classing as accounts that may not actually be accounts?

Over the years people may well have dozens of accounts (in the correct sense of the word).   It may only become an issue if you had 16 accounts with the same bank at the same time!

General_Grant

I too cannot close savings accounts online with Lloyds Bank (but can with Halifax).  I have had to visit a branch to close them.
The problem seems to be that at one time we had a partnership business account with Lloyds and this (long closed) account has put a marker regarding my personal accounts.  (Presumably this is because my personal accounts could have been used by Lloyds to fund any overdraft with the no longer existing business account.)

So that could be one problem of having numerous accounts with a single institution.

UKSBD

colsten said:

 UKSBD said:

Can having numerous accounts cause any problems? 

What sort of problems do you envisage?

What types of accounts do you hold?

I read that you are only allowed a certain number of some accounts, think it is only the higher interest savings accounts though?
Not counting mortgage, Mastercard and pension I have;
1 main Club Lloyds account
7 Standard saver accounts
1 Online saver
1 Easy saver
1 ISA
1 Club Lloyds Monthly saver (ends soon and I think will convert to my 8th Standard saver)

colsten

You are right, some banks place limitations on the number of accounts. They will either not allow you to open further accounts of the same type (e.g. you can only have 1 Club Lloyds), or they will write to you and tell you if you have too many.

There is nothing unusual about your list of accounts.