Using Chase as donor/dummy accounts for Current Account Switching

goatfaced

Santander seems to allow multiple everyday accounts too, they might be useful for switching. Think you can have 3 or 4 accounts.

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81899254#Comment_81899254

Most banks do, although none are as slick, fast and search-free as Chase.

Rule of thumb, don't overuse extra accounts for switching-only at any bank where you might have a long-term relationship you want to keep or which you favour for some other reason.

EarthBoy

https://forums.moneysavingexpert.com/discussion/comment/81899296#Comment_81899296

A few years ago I opened several RBS accounts and used them for switching away. RBS eventually closed all my accounts and banned me from opening any more RBS or NatWest accounts in the future.

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81899254#Comment_81899254

Only downside is that they do a hard credit check for each account application in my experience, whilst Chase doesn't.

PRAISETHESUN

https://forums.moneysavingexpert.com/discussion/comment/81899192#Comment_81899192

I've been blatantly taking the proverbial for a number of years with Chase now, but I do this. I opened a few accounts at the start and now each time I switch one away I open a new one. This way each account has been opened for a bit of time before it gets closed. No messages from Chase yet.

ThePirates

I had an email today from Chase after opening and switching 2 accounts in the last month. I'm guessing they are getting fed up of it.

janusd

https://forums.moneysavingexpert.com/discussion/comment/81896200#Comment_81896200

I opened a second current account with Chase in order to do a RBS switch - just opened it, didn't use it and card not linked to it - the RBS switch went through ok.

however, yesterday (the day after the switch completed) I received the email from Chase…

Dear janusd,

We noticed that you've recently used the Current Account Switch Service to switch your account from Chase. We want to make sure you're aware of what happens when you misuse this service.

While you can open multiple current accounts with us to help manage your money, we expect our customers to use these accounts in a fair way. If we notice any further misuse of our accounts or the Current Account Switch Service, we may close your account and terminate our relationship with you.

For more information about our rights to close your account, please take a look at the 'If we want to end the agreement' section of our terms and conditions.

Yours sincerely, 

The Chase team

so it seems planning ahead with this may be the way to go - I was toying with doing another switch tomorrow, but I won't bother now.

orange-juice

I finally received the email today as well. Glad it wasn't just me lol.

danny13579

https://forums.moneysavingexpert.com/discussion/comment/81902742#Comment_81902742

I'm surprised it's taken them this long to crack down on this.

steven141

I saw the stats recently on another post and they have lost a lot of customers so these may be affecting their stats as people will be using them for switching offers.