Chase UK Current Account

Money, investing, mutuals etc
Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Tue Mar 05 2024 10:58pm

Richard Frost wrote:
Tue Mar 05 2024 8:29pm
I wonder if closing and opening a new one would work?
Do you mean to avoid the £1500 deposit? That seems like an inconvenience. It's trivial to satisfy the £1500 deposit requirement - only takes moments. The funds don't even need to remain in the account overnight as MSE Martin suggests; can withdraw again immediately.
Thanked by: blythburgh

Richard Frost
Posts: 13352
Joined: Tue Jun 29 2010 8:14pm
Location: The Isle of Dreams
Has thanked: 2892 times
Been thanked: 6902 times

Re: Chase UK Current Account

Post by Richard Frost » Wed Mar 06 2024 10:18am

Sarah wrote:
Tue Mar 05 2024 10:58pm
Richard Frost wrote:
Tue Mar 05 2024 8:29pm
I wonder if closing and opening a new one would work?
Do you mean to avoid the £1500 deposit? That seems like an inconvenience. It's trivial to satisfy the £1500 deposit requirement - only takes moments. The funds don't even need to remain in the account overnight as MSE Martin suggests; can withdraw again immediately.
Yes that is what I was thinking.
My understanding is that with Chase they require the deposit to remain for min 24hrs
Thanked by: blythburgh

Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Wed Mar 06 2024 10:31am

They haven't previously; the message "you have qualified for <next month>" could be seen in the app cashback section as soon as the funds were deposited. If this condition changed this month, I didn't notice. In the worst case, as MSE Martin said, the funds could rest in their savings account. I believe that deposits to either current or savings account should qualify.
Thanked by: blythburgh, Richard Frost

Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Wed Mar 13 2024 1:35pm

Savings interest rate to be tied to the BoE rate.
We're changing the way we calculate the interest rate on your saver accounts. We used to set our own variable saver rate, but we'll now tie ours to the Bank of England base rate, which you can find on their website. This means each time their rate changes, the annual equivalent rate (AER) on your saver account will change 5 business days later, to stay 1.15% below theirs. The current saver rate is 4.1% AER (variable). AER is the interest you earn each year, including any prior interest payments.

Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Mon Apr 01 2024 9:38am

Qualified for May cashback immediately upon deposit of £1500 today, according to this message...

Image
Thanked by: MrsXfile

MrsXfile
Posts: 96
Joined: Sun Jan 20 2013 11:03am
Has thanked: 178 times
Been thanked: 26 times
Contact:

Re: Chase UK Current Account

Post by MrsXfile » Mon Apr 01 2024 9:52am

Have you left it there Sarah? I've put £1000 in and will deposit another £500 at some point. I just wonder how long it has to stay there, or if it can be immediately withdrawn.

Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Mon Apr 01 2024 11:09am

I withdraw these initial payments immediately. There will inevitably be some funds resting briefly in my Chase Savings later in the month. They recognise payments on the correct day right up to midnight, unlike e.g. Santander which has 8.15pm cut-off.
Thanked by: MrsXfile

planteria
Posts: 6435
Joined: Tue Nov 23 2010 4:52pm
Location: England
Has thanked: 728 times
Been thanked: 1699 times
Contact:

Re: Chase UK Current Account

Post by planteria » Mon Apr 01 2024 11:21am

existing Nutmeg customers?

Sarah
Posts: 6003
Joined: Sat Jun 26 2010 10:01am
Has thanked: 441 times
Been thanked: 4553 times
Contact:

Re: Chase UK Current Account

Post by Sarah » Mon Apr 01 2024 11:25am

planteria wrote:
Mon Apr 01 2024 11:21am
existing Nutmeg customers?
I guess you're responding to a comment on the first page. That offer expired 13 February 2022.

planteria
Posts: 6435
Joined: Tue Nov 23 2010 4:52pm
Location: England
Has thanked: 728 times
Been thanked: 1699 times
Contact:

Re: Chase UK Current Account

Post by planteria » Mon Apr 01 2024 2:28pm

ah yes. was it only an offer for existing Nutmeg customers?

Post Reply

Who is online

Users browsing this forum: No registered users and 5 guests