Chase

[Ubiquitous2024]

I had an account a few years ago which I switched for a bonus elsewhere. Having been trying to now re-open an account with them numerous times, I am told that they do not allow old customers to return. So in essence, you are allowed to be with them once in our life, and once you leave, you can never come back.

I find this to be unbelievable. What is the logic? I have come into a substantial sum of inheritance and so other than the complete lack of customer care and service this exudes. ultimately they are losing out on what would be a large chunk of funds in their system.

[mcflurry]

My guess is they've worked out the average cost of obtaining a customer and the average returns for different scenarios.
Maybe most who closed their accounts only reopen for special offer interest rates and so they consider that customer "too expensive" ?

[Simpo Two]

A bank punishing people for disloyalty... maybe they should reward loyalty instead...

[roadsmash]

In future, just leave the account open, with a pound in there.

[PaulWoof]

Chip were doing the same. I briefly had an ISA with them for a good rate till a better one was available. not long after leaving got notification that i can no longer open an ISA with them.

seems with the advent of customers switching for better rates. if they all club together and stop you returning in the future you may be less likely to leave i guess.

forgot my chase bonus is ending so will need to look at moving again

[AB]

Recently binned Chase off after they chased me relentlessly for KYC info while at the same time emailing me none stop about falling interest rates, quicker to put them down than anyone else.

I just removed all the cash and deleted the app. Wouldn't even go back for an out of this world bonus.

That and they want to know the insides of your ahole to move your own money.

[Ubiquitous2024]

I only left to switch and get bonus money. I did every switch going at the time and made £1600 switching the same burner account multiple times.

But yes - they say their "system" doesn't allow it. So literally, computer says no.

[VR99]

I've recently opened a current and savings accounts with Chase (app) as the interest rates across my existing savings accounts have been dropping as expected.

Some of the comments above seem a bit concerning re excessive KYC and transferring funds out... so wondering if using Chase will be more hassle than it's worth?

For context I find the likes of Santander and Marcus fairly straightforward to deal with when it comes to moving money, Virgin was a bit so so but manageable.

[Ubiquitous2024]

Ive transferred everything to Cynergy now from Marcus. Fingers crossed.

[mikeiow]

Surprised at their approach there, but I guess it is another vote for leaving a quid in & switching back.

My Chase gave a 6 month bonus rate 5 months ago....so we shuffled money back across there.....banking is all a game.

Good luck.....it's only money!

[AB]

VR99 said:

I've recently opened a current and savings accounts with Chase (app) as the interest rates across my existing savings accounts have been dropping as expected.

Some of the comments above seem a bit concerning re excessive KYC and transferring funds out... so wondering if using Chase will be more hassle than it's worth?

For context I find the likes of Santander and Marcus fairly straightforward to deal with when it comes to moving money, Virgin was a bit so so but manageable.

Santander/Cahoot is where mine all went.

[Blue M5 Comp]

I moved mine from Chase to Flagstone currently for 12 monrths on an average interest rate of 4.34

[Elderly]

Ubiquitous2024 said:

Ive transferred everything to Cynergy now from Marcus. Fingers crossed.

Good luck with Cynergy; I’ve had accounts with them for years and still have a dormant account with them. Their rates were good (not so now) but their customer service has always been hopeless, and their log-in procedures have always been more complex than most.
There’s still a few institutions that offer a slightly better rates and I can’t believe that their customer service and log-in could be worse than Cynergy.

[Ubiquitous2024]

Elderly said:

Good luck with Cynergy; I ve had accounts with them for years and still have a dormant account with them. Their rates were good (not so now) but their customer service has always been hopeless, and their log-in procedures have always been more complex than most.
There s still a few institutions that offer a slightly better rates and I can t believe that their customer service and log-in could be worse than Cynergy.

All smooth and painless so far. Agree they weren't the best when I spoke to them but they did answer and the money is there. MSE took me there, fixed for 1 year and will look again after.