That is spending at least £500 on your Chase debit card. After the initial 12 months, you can still earn 1% cashback up to a maximum of £15, but you must meet certain spending criteria. Unfortunately the 1% cash back offer only lasts for the first 12 months, though spending abroad is included. Chase’s offer isn’t without it’s caveats, but these are mostly based around vehicles, tax and cash, seemingly as a way to prevent combining the offer with any other rewards. Santander’s popular 1-2-3 account for example offers 1-3% on bill payments only, others such as Natwest, Co-op, and Barclay’s are linked to specific actions. In order to win over consumers Chase is offering a range of benefits: 1% Cashback on purchasesĬashback accounts aren’t new, the Chase account offers this 1% on a wider variety of every day spending than we’ve typically seen in the past. Not only is Chase hoping to compete with the big highstreet banks such as Barclays, HSBC, Lloyds etc… it’s also going up against successful digital challengers Monzo, Starling, and Revolut. The UK banking sector is one of the most mature and competitive in the world. What are the key features and benefits of Chase bank? The offer has now ended, but if you are considering joining Chase in the future it’s worth keeping an eye out on our Twitter and Facebook pages as we’ll publish any future offers there first, or sign up to Money Saving email email at the bottom of this article. The sign up process itself takes about 3-5 minutes and the account should be ready to use straight away.Ĭhase previously had a refer a friend offer that included a sign-up bonus. You will need to provide identification though, and your address will be checked. At present there are no credit facilities offered, so no reason for Chase to run a credit check on you during application. You can apply for the account directly by visiting the bank’s website. The Chase account is available to all UK residents over over 18 years old. It is unknown yet whether Chase will open dedicated branches in the future. Unlike the US where it has 4,700 branches Chase’s UK bank account is a completely digital offering similar to that of leading challengers Monzo and Starling.

With more than $4 trillion of assets under its management, and valuation of over $450bn, this new entrant to the UK consumer market is already worth more than Barclays, Lloyds, HSBC, and Natwest combined. Chase is one of the oldest and largest banks in the US already serving some 60 million households. Whilst it may be new to the UK, it’s not a challenger bank as you’ve seen them before. Is Chase UK a good bank? How does it compare? What is Chase?Ĭhase is investment bank JP Morgan’s consumer brand.

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