Chase bank ~ is it a good option ?

[Wallaj4]

Thinking of opening a Chase account for 1’5% interest and debit card for fee free overseas spending. Anyone have any experiences to share please ?

[John]

Opened last week, all good so far but still waiting for physical card (card numbers available in app)

[bruinbrown]

I’ve been using it since December of last year mostly for international spend, I’m pretty happy with it so far. The app is fine but you can only be logged in on 1 device at a time which is an annoyance. Also I’ve occasionally had problems at hotels with using the card for a deposit since it has no numbers printed on it.

The cashback is really good though and appears in a pot ready to transfer to your account soon after the transaction moves from pending to complete and transfers of cashback to your account are instant.

They’ve also just started offering a savings product at 1.5% which you can get in the app.

I’ve not used some of the more unique features like multiple accounts but as a travel card with cashback it’s been great, although the cashback is only a 12 month offer.

[Cranzle]

As others have said, it seems good. Points to note:
– they don’t support joint accounts
– the app can only be registered/enabled to one device (this is a different from only being logged into one device at a time)
– the are not part of the switching service

Does anyone have experience of their customer service or KYC requirements? It I choose to max out the savings limit, are they going to do a Revolut on me and freeze my account?

[AFKAE]

I’m a recent joiner, mainly for the 1.5% instant access. But fee free overseas will be good too. The application process must be the simplest I’ve experienced. Very, very simple. I think they say 5 days for the card-I can’t remember exactly but I think mine was 3-4 days. Deposit into saver account was instant.

So far very happy.

[Andrew.]

bruinbrown wrote:

Also I’ve occasionally had problems at hotels with using the card for a deposit since it has no numbers printed on it.

My colleague had hers rejected at a US military base last week as they still use zip-zaps in the gift shop.

[SamG]

I’ve had a couple of fraud blocks when doing payments – one pretty big one and one very small one. But very simply resolved. Have done a couple of payments with the card no problem

[Nepweno]

Do they run a credit check if just want basic account to access the 1.5% interest savings account ?

Also is there a maximum you can save at 1.5%?

thanks!

[Rui N.]

I have no idea if they run a credit check (don’t care about that, nor should you). The maximum is £250k. But just today Marcus announced an account with 1.8% BUT it is not “easy access”, you need to keep the money for 1 year there (also £250k max).

• This reply was modified 54 years, 4 months ago by .

[JDB]

@Nepweno as above, if you are worried about a credit check/KYC/AML you have chosen the wrong bank. JP Morgan Chase is both efficient and very proper.

[Nepweno]

Thanks Rui and JDB. Only worried in terms of wasting a credit check maybe I am too pedantic but with a possible mortgage application on horizon I try stick to 1 check every 6 months which makes juggling cards harder than ever.

[Rui N.]

That’s an useless threshold. If you have a mortgage on the horizon stop applying 6 months before. If you don’t, keeping it at 1 or 100 per 6 months is the same.

(No hard searches report at ClearScore or Credit Karma for me; didn’t check others.)

[trient]

Nepweno wrote:

Thanks Rui and JDB. Only worried in terms of wasting a credit check maybe I am too pedantic but with a possible mortgage application on horizon I try stick to 1 check every 6 months which makes juggling cards harder than ever.

No credit checks (source: 2 players)

[nmk]

My experience with the new Chase debit and savings accounts hav

[nmk]

My experiences with the new Chase debit and savings accounts have been excellent. Having been refused the Barclaycard Avios, (because I already have the Barclaycard Hilton Honors Platinum Visa), I was hunting for something more rewarding. The Chase 1% cash back is working well for my range of purchases, both on UK and overseas purchases; transferring money to/from accounts to outside accounts is virtually instantaneous; no admin charges on overseas expenditure or ATM withdrawals is a real advantage and the exchange rates appear better than any of my existing cards; 5% interest on ‘rounding up’ is a nice touch and the 1.5% interest on an instant access savings account is I think unrivalled. I have had to contact customer service on three occasions. Two were dealt with swiftly and efficiently, (much better than I have ever experienced with Barclaycard and on par with the excellent service I have always received from Amex). A third, using chat, was less satisfactory but it was around the time of the peak interest in the account and they were apparently overwhelmed by applications. I’m really pleased with Chase whose products suit my requirements perfectly and I’m now, rather glad Barclaycard declared me ineligible for their Avios Mastercard. I’m very much looking forward to other products Chase UK may have in the pipeline.

[DonLee]

Chase has opened up a referral program, £20 for both party

[pointyhead]

If you sign up with a referral link we’ll each get £20.
If it’s allowed, here’s my link – https://link.go.chase/emNK/refer?code=fs6lelXv

If you’ve signed up very recently it may give you the option to enter a code. Mine is fs6lelXv

• This reply was modified 54 years, 4 months ago by .

[iamfugly]

Not read all the messages here but will let you know my experience. I have the account purely to hold a load of cash I have until I decide on how next to invest it. I initially had a problem when topping up my account. The Chase online customer service chat was relatively quick to respond. Nevertheless, the problem was caused during the transfer by my originating high street bank rather than an issue from Chase (which they rightly identified). So far, I have had no further need to contact the CS but lets see what my experience will be when I will need to transfer my funds out.

Also JFYI, interest appears to be earned every 1st of month, no matter when you opened the account. As opposed to Tandem and Zopa, which appear to be monthly from the date of opening the account.

[duggie1982]

Of course if anyone wants to use my link or code then please knock yourself out

Hey, want to join me at Chase UK? We’ll both get £20 when you join and pay in £20.
Get started:

https://link.go.chase/emNK/refer?code=rqbWsB9k. T&Cs apply.

rqbWsB9k

[Luca M]

I was an early joiner in September/October last year, and the product has been continuously evolving since.

My main use has been international forex spend. Where in addition to the MasterCard almost perfect exchange rates, without forex fee, I have been earning also some cashback (currently due to stop at my one year anniversary but still hope they will extend it, even if at a reduced rate). Have used the card with no issues in Bulgaria, Italy and USA. One unique selling point for those of us that may travel to the USA pretty often (but also occasionally) is that you can use Chase US ATM machine without local bank fees (most US banks charges non customers an ATM usage fee) and you can find their ATM virtually everywhere (I think only Hawaii and Alaska do not have Chase operations).

Aside of that, I also have the round up feature, and the saving account on the go. For the saving account, what I am doing is paying in each day the value of what I have spent on my rewards credit cards (BA Amex prem, HSBC Premier, etc) and keep the money there until I have to pay my CC statement, so in addition to get rewards from the CC, I also earn some pounds by having the value spent earning interest up to 28 days.

[colinc57]

Good experience so far.. quick on processing, and a good savings rate. Will also use for travel. Have tested a number of “places” that don’t accept credit cards , only found one that gives cashback though. ( loading a prepaid card with benefits :). ).

Refer link for 20 each

https://link.go.chase/emNK/refer?code=XgsmnGJe

• This reply was modified 54 years, 4 months ago by .

[BuildBackBetter]

Luca M wrote:

I was an early joiner in September/October last year, and the product has been continuously evolving since.

Have they actually introduced new features since launch? Or is it your usage that’s evolving?

I’d probably get Halifax Clarity for protection on purchases abroad.

NatWest premier rewards gives net £8 per month that can be converted to Avios. Need to weigh the pros and cons of it. Would be excellent if direct debits can be set up in NatWest while any excess funds moved to Chase for the 1.5% interest.

[Lady London]

Is there any bricks and mortar option with Chase or must absolutely everything be done online?

[Luca M]

BuildBackBetter wrote:

Luca M wrote:

I was an early joiner in September/October last year, and the product has been continuously evolving since.

Have they actually introduced new features since launch? Or is it your usage that’s evolving?

I’d probably get Halifax Clarity for protection on purchases abroad.

NatWest premier rewards gives net £8 per month that can be converted to Avios. Need to weigh the pros and cons of it. Would be excellent if direct debits can be set up in NatWest while any excess funds moved to Chase for the 1.5% interest.

They have introduced Direct Debit, have modified the app to give different/better information, have improved the time it took to send and receive payments and few others. They also introduced the saving account only recently.

With regards to use CC for protection abroad, not sure it will give you much protection than to settle the bill with Chase at check out (swapping the previously provided CC at check in (did this in Italy, Bulgaria and USA and got a nice 1.5% cashback on my hotels bills.. also used for food shopping, restaurants, etc, again earning cashback at nearly perfect exchange rate. Not sure either if you are likely to purchase large value items to take home, but for those, I guess an option of a Forex free Credit Card is always good. FYI I have Santander Zero (similar to Halifax Clarity, but with the added benefit that at Santander Branches abroad (e.g. Spain and east coast US) you can also use the ATM for cash withdrawal (as people do with clarity) avoiding the local ATM fee (again I am in the position now to use Chase in US and Santander Select debit card for this purpose). I also have the MBNA Horizon Credit Card, which also gives a tiny cashback on spending home and abroad, not forex fee neither but is a Visa and in my experience the exchange rate is always worst off then MasterCard’s

• This reply was modified 54 years, 4 months ago by .

[Mexd]

I’ve just applied using one of the codes above, very quick and easy just photo of ID and a selfie and a wait for a few hours whilst verified.

If anyone wants to spread the love I’d appreciate it..

Hey, want to join me at Chase UK? We’ll both get £20 when you join and pay in £20. Get started: https://link.go.chase/emNK/refer?code=0pa2Kyws. T&Cs apply.