Chase App - Editing Payee Names?

PlatinumChaos

In the Chase app, I have set up a number of payee accounts for myself so that I can move money about between my accounts. Trouble is, I now have identical names for each of the payees listed because those are the names of the account holders of these accounts. Does the payee name have to correspond exactly with the account holder for the respective account, or can I change it slightly to something more meaningful, e.g. "John Smith NatWest" and "John Smith Monzo"? Cheers.

dcs34

Can you not add multiple accounts under the same payee name? So you click on John Smith and then select the specific account you want to pay into (which are listed by bank name and display sort code and account number)?

Changing the name would affect CoP and might delay payments if they felt these were not accurate to the account holder's name.

PloughmansLunch

I did the same as you initially, then read something on these forums that was a great help. Click on your name at the very top of your payee list and you can add additional banks via the blue button here: 

Once sort code and accounts are added you select edit top right of the screen and change the bank names to something more suitable if you have multiple current accounts / savers.

I then binned all the previous payees for me on the main section that I’d added to avoid confusion.

EDIT: exactly the post below, I’m forever grateful for the tip

AmityNeon

See this (and the following responses) for more details on the flexibility (and pitfalls).

Wheres_My_Cashback

PlatinumChaos said:

In the Chase app, I have set up a number of payee accounts for myself so that I can move money about between my accounts. Trouble is, I now have identical names for each of the payees listed because those are the names of the account holders of these accounts. Does the payee name have to correspond exactly with the account holder for the respective account, or can I change it slightly to something more meaningful, e.g. "John Smith NatWest" and "John Smith Monzo"? Cheers.

You can name payees whatever you like. With all my various banks I use the following and as COP is not yet in full operation I've never had any issues

Initial - Surname - Bank (Bank name shortened if preferred or if character number limitation) 

I sent a recent payment from Chase to...

'Next Round is on you'

No problems encountered.

AmityNeon

After you've added a bank account, it's not actually possible to edit the account's details (i.e. Full name, sort code, account number). What you can edit are display names, i.e. account descriptors and payee descriptors, and these can be as descriptive as you want, without affecting CoP (when implemented).

The major pitfall in Chase's implementation: transaction details, statements and scheduled payments (including standing orders) only show the top-level payee display name, so although you can group 10 different accounts under your name, it can get confusing knowing which precise account is being referenced when reviewing transactions.

I have about 40 accounts of mine as payees, grouped together under various display names, some of which only have one account listed. I also use payment references to help identify accounts, as they are shown in details/statements.

PlatinumChaos

Thanks to everyone for their suggestions. Much appreciated.

easysaver

I'm setting up my Chase account but I'm struggling with payee references. I can add a reference when making a payment or setting up a SO but Chase doesn't save that reference for future use. I set up and send a payment to a savings account that requires a reference, all good, but then the next time I have to enter the reference again. Is there anyway to get Chase to save the reference?

btw the link in one of the posts above is dead.

k_man

The previously used reference should be auto suggested when you click to add a reference to a new payment to that payee.
It doesn't add the reference automatically though.

If you create a schedule payment that repeats, the reference is saved and used each time.

easysaver

k_man said:

The previously used reference should be auto suggested when you click to add a reference to a new payment to that payee.
It doesn't add the reference automatically though.

If you create a schedule payment that repeats, the reference is saved and used each time.

Thanks! I hadn't clocked the previously used reference on the add reference page. I don't like having to remember to add the reference each time... it'll only be a matter of time before I forget.

I've created several schedule payments all from the same "group" (i.e. same payee name, different accounts) but in the list of scheduled payments they can only be distinguised by the amount/reference (as noted by AmityNeon), hardly ideal.

I take it scheduled payments are in fact standing orders and only processed on working days?

Band7

easysaver said:

I take it scheduled payments are in fact standing orders and only processed on working days?

They process the scheduled payments on exactly the date they are scheduled for. No skipping on non-working days.