Chase rejected switch to Monzo

ronbell101

I requested a switch from Chase (Personal account) in my name to Monzo (Joint account in my name and my Mrs) and Chase rejected it. I contacted Chase and they said they could not tell me why the switch had been rejected until I suggested that it could be I'm switching into a Joint account and they said thats the reason why. I'm sure I've switched a personal into a joint previously to take advantage of a switch offer, I'm now doing a "manual switch".
Any thoughts on this ?

la531983

Chase dont offer joint accounts, thats the only reason. Doesnt matter if its worked before, if the bank you are trying it with dont offer them.

sheramber

la531983 said:

Chase dont offer joint accounts, thats the only reason. Doesnt matter if its worked before, if the bank you are trying it with dont offer them.

Monzo do joint accounts. 

OP  was switching from Chase, not to Chase. 

la531983

Aha, my bad.

PRAISETHESUN

On paper, there's no reason why it should have been rejected. Sole --> joint switches are definitely possible. Are you sure the details on both accounts match? It can be for fairly trivial reasons sometimes - a slight misspelling of an address, a missing middle name, etc. Otherwise I'd direct your attention to the new bank (ie. Monzo). They are supposed to take charge and resolve any issues during a CASS switch.

ronbell101

Contacted both Chase and Monzo Chase said no because its a Personal account to a joint account and Monzo said speak to Chase ! all details spot on...I'm doing it manually so I'm solving the problem myself cheers for the answers

retiredbanker1

In my day the names on an account had to match for a switch to work.

Some banks allowed sole to joint if the sole account holder was a [arty to the joint account but quite a few did not.

WillPS

Joint -> Sole is not allowed
Sole -> Joint is allowed, but quite often not supported by the gaining bank.

My wife also recently tried to switch a Chase sole account in her name to a Nationwide joint account in both our names and Chase blocked that. I guess it's not possible, but I didn't know the losing bank could reject it.

ronbell101

Had this reply from CASS

As per the switching service, a sole to a joint account is an option participating banks can offer. Unfortunately, in Chase’s case, they currently do not have the internal infrastructure to facilitate this at the moment. We understand Chase are making steps forward to have this not be an issue going forward, however it is not something that can be remedied immediately. 

 

We completely understand this will be disappointing to hear, as you will not be able to switch out your account from Chase as you intended. 

PRAISETHESUN

ronbell101 said:

Had this reply from CASS

As per the switching service, a sole to a joint account is an option participating banks can offer. Unfortunately, in Chase’s case, they currently do not have the internal infrastructure to facilitate this at the moment. We understand Chase are making steps forward to have this not be an issue going forward, however it is not something that can be remedied immediately. 

 

We completely understand this will be disappointing to hear, as you will not be able to switch out your account from Chase as you intended. 

Sucks to hear. At least we know it's a Chase-specific problem.

A workaround might be to involve a third bank if you still want to use CASS? Chase sole --> another bank sole --> Monzo joint?

ronbell101

PRAISETHESUN said:

ronbell101 said:

Had this reply from CASS

As per the switching service, a sole to a joint account is an option participating banks can offer. Unfortunately, in Chase’s case, they currently do not have the internal infrastructure to facilitate this at the moment. We understand Chase are making steps forward to have this not be an issue going forward, however it is not something that can be remedied immediately. 

 

We completely understand this will be disappointing to hear, as you will not be able to switch out your account from Chase as you intended. 

Sucks to hear. At least we know it's a Chase-specific problem.

A workaround might be to involve a third bank if you still want to use CASS? Chase sole --> another bank sole --> Monzo joint?

I never thought of that thanks for the suggestion I have 3 direct debits left to manually transfer over to Monzo and the switch is done!