Chase UK Current Account

Money, investing, mutuals etc
Sarah
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Chase UK Current Account

Post by Sarah » Wed Sep 29 2021 10:21am

New current account coming soon - offers 1% debit card cashback during first year and 5% interest on a small amount of 'round up your spending' savings.
Get 1% cashback on your everyday spending

We know a little extra cash is always welcome. Make everyday purchases with your Chase debit card and enjoy 1% cashback on them for a whole year.
Boost your savings with 5% interest on round-ups

We’ll help you set aside money every day. Simply choose to round up your spending to the nearest £1 and we’ll turn the spare change into savings with a 5% AER (4.89% gross) variable interest boost, paid monthly.
MSE article:
https://www.moneysavingexpert.com/news/ ... t-account/

Join the 'waiting list' on their website - or wait for public launch, possibly from November:
https://www.chase.co.uk/gb/en/product/chase-account/
Chase is a registered trademark and trading name of J.P. Morgan Europe Limited.

pabenny
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Re: Chase UK Current Account

Post by pabenny » Wed Sep 29 2021 4:40pm

I signed up a few days ago and got my invite yesterday. The waiting list is probably about keeping numbers manageable rather than any real restrictions. Or a marketing ploy.

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Re: Chase UK Current Account

Post by milo55 » Sat Oct 02 2021 7:14pm

Just got my invite as well - sounds like an interesting account although not fully functional yet ie no direct debts - have to see how it goes - 1% cash back for the first year and 5% on round ups - can’t be bad !!!

Sarah
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Re: Chase UK Current Account

Post by Sarah » Mon Nov 08 2021 2:08pm

I joined about a month ago now; as mentioned above the benefits are nice and the features they have are pretty slick too. However, this needs to be weighed against the disadvantage that it's not a full service bank (no branches, no website banking, no direct debits, no cheques, etc).

There are also lots of exclusions to the cashback, based on Merchant Category Code. I didn't find these until after making a few fairly ordinary payments such as car repairs and NHS online that didn't qualify (also Reward Gateway gift card purchases are excluded yet Gift Cloud transactions aka TopGiftCards appear to be okay so far):
https://www.chase.co.uk/gb/en/legal/Cas ... xclusions/

It's possible to sign up without a waiting list now. I recall having some initial difficulty with their facial recognition software not matching my webcam picture to my driving licence photo, but eventually it worked after I switched off the room lighting, lol!

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Re: Chase UK Current Account

Post by pabenny » Mon Nov 08 2021 2:19pm

Sarah wrote:
Mon Nov 08 2021 2:08pm
I recall having some initial difficulty with their facial recognition software not matching my webcam picture to my driving licence photo..
Had the same problem and gave up after many attempts. From what you say, it sounds like I'm not missing much. TBH, I'd completely forgotten about it.

Sarah
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Re: Chase UK Current Account

Post by Sarah » Mon Nov 08 2021 3:17pm

Oops, I meant selfie camera (i.e. phone) rather than webcam. If you fancy another attempt, sitting in the dark for that bit genuinely might help!

I'd also recommend -- abandon all vanity, e.g. if you need eyewear to see the hints then use it, if you have long hair then keeping it clear of your face might help, perhaps smile less than you'd like and if you get an acceptable picture but aren't entirely happy with it, just live with it, don't risk an unnecessary retry!

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Re: Chase UK Current Account

Post by Sarah » Thu Nov 18 2021 5:33am

Just received a special offer for Amazon:

Image
Thanked by: parchedpeas

Sarah
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Re: Chase UK Current Account

Post by Sarah » Fri Nov 19 2021 1:33pm

Just to confirm, using the above offer you can (...if so inclined...) top-up your Amazon account with £1.01 to benefit from £1.01 added to your Amazon gift card balance, plus 3p cashback from Chase and 99p transferred into your 5% round-up savings account! :lol:

parchedpeas
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Re: Chase UK Current Account

Post by parchedpeas » Fri Nov 19 2021 2:07pm

Sarah wrote:
Fri Nov 19 2021 1:33pm
Just to confirm, using the above offer you can (...if so inclined...) top-up your Amazon account with £1.01 to benefit from £1.01 added to your Amazon gift card balance, plus 3p cashback from Chase and 99p transferred into your 5% round-up savings account! :lol:
Have got exactly this in place, using Auto Top Up.

If you started this today, you'd have:

42 x £1.01 = £42.42 into Amazon account (which will easily be used in run up to Xmas)
42 x 0.99p = £41.58 into the 5% account.
42 x 0.03p = £1.26 cashback

Sarah
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Re: Chase UK Current Account

Post by Sarah » Thu Jan 20 2022 12:59pm

Nutmeg currently have a £50 incentive offer for opening a Chase UK account (existing customer invite only); perhaps might have expected that following their acquisition by JP Morgan, but too late for me now!

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