Chase Bank UK review: How to earn 1% cashback on spending
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- Опубліковано 14 лип 2024
- After a long wait, the Chase Bank current account has finally launched in the UK.
Targeting customers from Monzo and Starling, and even users of American Express credit cards, is this a decent option for your banking?
I've been using it for a few weeks now, so find out what I think, what benefits you'll get and some of the downsides.
Plus find out what the card looks like and see inside the app.
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#ChaseBankUK #currentaccounts #cashback
00:00 Intro
01:21 Applying for Chase UK
02:24 Card unboxing and features
05:20 1% Cashback
07.56 5% interest on Round Ups
09:49 Other app and account features
12:47 Downsides of the account
14:07 Should you get a Chase Bank UK current account?
MORE
S U B S C R I B E / @becleverwithyourcash
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(You'll also get a free Quidco bonus for signing up)
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A B O U T A N D Y
Andy Webb is a money blogger and journalist. He runs the award-winning website Be Clever With Your Cash, hosts the Cash Chats podcast, presented Channel 5’s Shop Smart Save Money and writes every month for Reader's Digest. Andy also founded the community ukmoneybloggers.com.
DISCLAIMER
Content in these videos does not constitute regulated financial advice. Any offers mentioned were correct at the time of filming.
I've written up this review and added details of how to set up the 5% roundup savings account over on my blog becleverwithyourcash.com/chase-bank-uk-review/
Hello Andy! Thank you for a wonderful review. Do they charge a monthly fee for the account?
Opened my account today for the the additional savings account. 1.5% savings interest is much better than the 0.01% that I've been getting from Barclays
Thanks mate I installed and opened account. I got both offer 1% and 5% interest. ❤️🔥
I really like your channel it's great, you definitely deserve way more subs. The way you explain things really straight to the point, clear concise. It would be great if you expand and maybe do video's on investing, stocks etc.
Thanks Sun Gazer Sal!
Completely agree it does feel like it’s in beta. Still use Starling as my main account, with chase as my spending account. 👍🏼
Sounds like a plan. I'd keep some money in an account with a bricks and mortar branch too just incase there's tech issues
Who got chase bank and want to make 1500$? No money needed
@@creatme6101 me
Great advice thanks Andy
Nice video, Andy…just opened my account and gonna use it purely as my spending account to get the cash back but will see after that ends.
Btw…do you get the 1% cash back if you spend on through your Curve Card?
Yep, getting the cashback via Curve
@@BeCleverWithYourCashCool, thanks…it took me a few tries to add the Chase card on Curve but it finally worked now. And have used and getting cash back. The 5% interest on roundups seems to be up and running too. Look forward to your next video, Andy.
i think overall i am happy to have this one!!! it is good at the market for now!
Yeah, for 12 months at least! Then we can see
I managed to get a Chase account. Applied on the day, code within 3 days and card within the week. So far so good and the cash back is pretty quick.
How long did it take to get the code
@@firstnamelastname2971 mine only took 3 days
@@nicholas1136 Google is your friend
Great video mate 👌🏼
Thanks 👍
Great video Andy, I just signed up i have been trying to find perks where only a soft search will be done. As I will be applying for a mortgage imminently.
Hi
Great video
I have just open a chase account
CHASE UK are now accepting Direct Debits [03/22]
Hey Andy great content here, quickfire question:
... I'm about to start a new full time job and want to apply for my first ever credit card as I'm looking to make a slightly large purchase for Invisalign dental treatment which will cost around £4000 over 2 years.
Q: Should I wait a couple months to earn that income before applying for credit or should I just apply to the pre-approved ones I can see on the eligibility checker? Thanks
Great advice
I’m planning on going backpacking for a few months in Asia and have been told I should get a travel card and have been recommended Monzo. Is this a better option than Monzo do you think?
Just got my chase card today. Waiting on my curve. Assuming the 1% cashback still works when using chase via the curve card?
Chase is excellent I really like using abroad good rate and cash back on my euro spending
Considering the sheer amount of accounts that Monzo are freezing and even closing (see the Facebook group), can you really keep recommending it? I closed mine down in fear of them freezing my cash. Do not need that aggro in my life. Thanks for the video’s. Very informative and they have helped me decide on savings and even this Chase account. 🙂👍🏻
Why are they freezing them? I have a Monzo account
Might need to look at replacing my Revolut metal with this for certain aspects. Thoughts?
Hi Andy when using chase abroad does chase do the conversion for you or do you have to ask to pay in local currency
Hi set up and running brilliant 1.5% savings + cash back not done direct debits as another bank offering £150 to swop
Thank you
Thank you. Great review.
Thanks for watching!
I had no problems with using the debit card, except when I tried to use in the post office to pay council tax. Still can’t find who refused it, contacted all three companies chase and the others. Nobody could tell me who was to blame. They were putting the blame on other company.
If I link my Chase debit card to curve and I buy stuffs using Curve, can I still get the cashback? Thanks!
Hello. Great video. Could you answer a question for me? Is the 5% on roundups paid yearly?
Yes they are
I used Chase Debit card at my local supermarket, but when I returned one of the items to the supermarket and get a refund (with refund’s receipt). It wasn’t shown on my Chase account. I contacted Chase and was told to wait for 7 days, yet nothing happen!! Any idea??
If you use this card instead of a credit card aren’t some of the down sides
Losing protection 75
Doesn’t build up credit score
Etc.
Absolutely!
Hi, Thank you for the video, it is really helpful. I would like to know if I can open a card being a student who doesn't work.
As this is a debit card, could I pay off my Amex using this card and collect another 1% cash-back after the cash-back on my Amex?
Sadly not. There are restrictions on the cashback and this is one of the payments that won't earn cashback
I don't use my Chase card as I don't use my debit card ; I use a credit card for all online transactions and when I'm shopping. I'm unsure what to do with the Chase card?
Do I need to transfer money from my bank to the Chase card in order to use it?
Hello Andy Clever Cash.I am writing to you about new Tesco Bank account what is link upto to your Club card Pay+ do you have any more information about it are you going to make a video about it also will yes or no. And what happening with Lloyds Bank share price because lots of news about it on Google also will places because I am customer with Lloyds Bank and I need some information by your blog or video please. Thank You! From Richard Gorton.
Hello! Please, which account would you recommend for someone that wants to get cashback and build credit score too?
Do you get cashback on bills etc? Also, do you get cashback on online expenditure e.g., amazon or other online purchases? Or is it just card taps in store?
Hi Andy just seen that Algbra are offering 1.5% cashback now. How would you say that it stacks up against the Chase cashback offer?
Hello am just new to your channel I just want to ask if your familiar with the Grindlays bank also in UK
Andy, thank u for the video. Do u know if i could link chase account with zilch so i could get 1% cashback from chase +2% from zilch? :-)
Andy, can I ask you when this account is linked to curve does it still earn cashback on spending? Thanks
Yes it does - at least it has for me so far
@@BeCleverWithYourCash thanks Andy I will try set it up on mine 👍
Looks like i am on a waiting list - guess it too popular
Yeah, not sure how long it's taking to get access at the moment.
Hi just came across this video and I have a question for you
Say I buy and pay for everything with my cash back Amex card then at the end of the pay my Amex with my chase card …will I get cash back on both cards ? Hope this make sense
Thats a no, i tried it
To be honest I don't think much of it and I won't be using it full time anytime soon.
Ok great plus point 1% cashback I will just use it for this but I am sticking to my main account for now, I think it needs a lot more work as the app is also not the best I think it's all been a bit rushed if you ask me.
Hi Chris, yes I'm with you on that 100%.
Also, do you get cashback on subscriptions e.g., UA-cam premium, spotify etc? Cheers.
Can you use the additional accounts that you can open for bank switching offers with other banks??
Did you find out if you could?
@@Starrymite I didn't find out but I don't think you can.
Chase does not use the ‘current account switching service as yet so no as most bank offers are if you use this service
Can I get a credit card through getting the debit card for the chase account
If im not wrong they have extended the 1% cashback however now you have to deposit £500 into your chase account every month to keep it going.
Yep that’s right. I’ve a video on it from earlier this year
@@BeCleverWithYourCash come to think of it I think it was your video I watched haha. I’m frantically trying to choose a travel card for spending money when I go to Florida in July.
Currently torn between Chase, Revolut, and Starling but I can’t for the life of me decide haha
Thanks for the info! When we say 1% cashback, how does that work? Cash into the Chase pot that I'm using to pay for things? Thanks
Yes, you can transfer it to your account to use on purchases, or transfer it to another bank for savings etc
I tried downloading the chase app but it says that my device isn’t compatible. Is there any other way of opening the account other than the app.
Ah, that's annoying. No you'll need to wait until you upgrade your phone with a higher operating system.
Hi Andy, I hope you’re well after I watch your video actually open the account with the chase , for the last two days they’ve been harassing me for my employment history for January 2009 to present I’m a self-employed IT consultant and who makes a decent salary! You might wanna stop advertising their services because they’re shite
They're racist by the look of things, I tried to open mine and they refused it they ask you to take a picture and your passport as soon as your black face comes up straight decline, my credit is decent and I'm on the electoral register, live in a 7-figure property, no excuses really other than imported discrimination from America.
Hi Andy,. I opened a Chase account but have been unable to add to my Curve card, chase say it isn't compatible, is there anything you did to make it work?
Hmm, I added the card details manually and it worked fine.
Does adding to curve effect the cashback you get from Chase when paying via curve?
is it 1% cashback on transactions abroad? I'm going backpacking in asia for several months, so no john lewis or tesco!
Yes!
Can’t wait for Apple Card to come out it will dominate this card
Can you use chase card online?
How with work with curve card to get double rewards with curve and chase debit card? I properly active it on April 5th the new financial year here in the UK?
Yeah it's worked for me with Curve fine
@@BeCleverWithYourCash so if use chase debit card on curve will l get curve rewards and chase 1% cashback?
Good video. It would be great if was a bit shorter. You repet yourself unnecessarily with similar examples.
I've just managed to get an account, although it took me a few trys to pass the I.D checks as it kept saying to re take the photos
Let me know what you think!
@@BeCleverWithYourCash Got my card within 2 days. Used it a fair bit already on general daily spends, quite impressed so far.
Will I get 1% cashback on invoice payments
If I pay my credit cards statement using this card will I get cashback?
No, that's one of the exclusions
Could you compare the Chase account to Starling?
Yes will do something on this later in the year. But fundamentally Starling is much better, but you don't get the cashback
If i use chase @ British airlines to book flights tickets, vl i still get 1% cashback?
Hopefully. There are a few exceptions which you can read in the article I've linked to in the notes
Hi Andy, have they sorted out the direct de it functionality yet? I wasn’t aware of this and when I rang my energy provider to set it up they took the sort & account number and didn’t mention any issues ?
Nope they still don’t have DD
Can I hv cash back with gov payment while curve has extra charge
No, there's a list of excluded transactions, and that includes tax payments. You can see the full list here becleverwithyourcash.com/chase-bank-launches-in-the-uk/
It does now do direct debits.
Yep, since March 22
Could this card be used to pay off credit card balances and earn cashback on that too?
No
Sadly not. You can see the cashback exceptions here becleverwithyourcash.com/chase-bank-launches-in-the-uk/
Hello Andy, how do i close my account with Chip?
Hi V G, you will be able to do this in the app. Go to settings and there's an option to delete the account
You recommend spending on this instead of American express?
Unless you can get the 5% (or similar) welcome bonuses from Amex this has the best rate and you'll be able to use it every time. Of course you don't get the Section 75 Consumer protection on items over £100 with Chase as it's a debit card, so Amex might be better in those instances
@@BeCleverWithYourCash I've nearly hit my Amex welcome bonus target (Amex rewards [not the gold one]) so I'm thinking whether it's worth using this for everything under £100 once I've hit the bonus, do you get cashback on paying a credit card with this card (same trick as using your Halifax rewards debit card to pay your Amex to hit the £500 spend condition)?
Will I get the 1% cashback if I add my card to Google pay and pay with that?
Yes
Is this card a temporary thing? In the t&C's it says this account is only available for 12 months
Permanent account, just the 1% cash back and 5% interest on round up are limited for 12 months
It's the 1% cashback and 5% interest that are locked for 12 months.
If what you spend in the pennies, 51-99p then they round it up. I.e. spend £10.01, you get £0.10p, spend £10.51, you get £0.11p. Granted not a lot, but every penny counts, maybe enough to buy a few coffees…
Do you earn cash back on this card for paying off your American Express bill?
I assume that would fall under "Debt repayments" on the cashback exclusions list.
Sadly not. Though I'd suggest switching most spending to Chase rather than Amex as you'll get 1% back to your card, rather than points etc (of course it depends on your card)
Can I add to apple wallet
Yep! But not Google as yet
I'm interested but think I'm going to wait a while before opening an account. It seems like the product is a little unfinished at the moment and there's no harm to waiting 6 months or so.
Yes, no harm at all. Really the only benefit is the 1% cashback, and you can get close to that elsewhere. So you're not really missing out if you do have one of the better Amex cards.
i cant wait to get my acount open be good for pepole to get some cash back with the big xmas shop coming in few week or mouths in some cases ahaha How long should i have to wait on the list any codes i can have to get my ac sooner
It sounds like the waitlist is getting pretty fast now. Hopefully a few days. Let us know how long it takes
@@BeCleverWithYourCash it took a day and I opened on last sunday evening I just can't wait for the card to come I would am a bit surprised it is not that advertised I only learned about it from this vid. I think it is a very good spending account because let's face it 100 pounds is very quickly spent on food and life needs. and that's 1 pound for free when does the cashback come in the account is it a mouthy payment or instant.
Is it FSCS protected at all?
Yes, fully protected
Still cant add mine to Google Pay :(
Yes, it seems it's only Apple Pay for the moment. Curve would get you around this
Would you still recommend now in 2023 as opposed to others?
Yes, though for many the cashback will end in Feb so I’m waiting to see if there’s any change to the offering before making an updated video
Is it a credit or debit card big difference
It’s a current account, so the card you get is a debit card linked to the funds you have in that account
Where do i go to put money into the card?
You can quickly transfer from another bank account
@@BeCleverWithYourCash i mean as in if i want to physically go out and put money into the card, where do i go ?
Does it have a Joint Account?
No, I’ve just asked this very question on the app.
Sadly not. I'm sure they'll add it eventually
i can see them brining credit cards
Eventually you'd expect so. Though the Marcus account from Goldman Sachs is still just a savings account
Card is fantastic , no fee for abroad , cash back is instant. But I don’t hsbc doesn’t recognise this bank when I try send money from hsbc to Chase
Hmm, are you sure you've got the right details in? Is it just saying "we don't recognise" rather than preventing you sending the money? This does happen sadly with some banks
@@BeCleverWithYourCash ye all details are correct . But not work .
I sent with starling . Starling work perfectly
Hi Andy is there anyway to delay the cashback activation ?
Chase is terrible, Please be aware, chase bank steel your money out of your saving account monthly, they call it service charge, I had $1,438 on my savings I'm checking my savings today they kept charging me each month and my balance is $ 887 today , I wish I never opened any account with this steeling business holders
I think your account is different to Chase UK. There is not a charge for having the account and the funds are Sterling £ not dollars $. Just a basic current account with a linked savings account via an app
The human receptors are not capable of taking so much bababbling corporate rhetoric in,, get the facts,, most people will not listen to such a lengthy oratory, it is a well known fact, most will stop listening after they realise you are going on for another 30mins,,plane you dissertation better,, make it sharp and concise, that way you stand a better chance of persuasion,, this is putting folks off, like me when I saw how much more a there was,,
This bank is rubbish, All Sorts Of Problems, you'd better for with your high street Bank?
It's white forever nmhg pofe
Can't understand what you said?
Hi @Andy Clever Cash will i get cashback if i buy giftcards for shopping places then with the chase bank account
Is there a monthly limit to how much cash you can withdraw monthly? If so how much?
Here's what Chase's Ts&Cs say " We may also apply spending limits, such as a daily limit on the amount you can withdraw in cash with your card, as well as transaction limits. If we apply these limits, we will let you know what they are. "
@@BeCleverWithYourCash Thanks for the response