Chase digital bank review UK
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- Опубликовано: 27 июл 2024
- Take a look at the newest digital challenger to hit the UK market: Chase. Read the full review and start comparing current accounts here - www.finder.com/uk/chase-digit...
00:00 Introduction
00:34 Fees and charges
01:17 Key features
02:17 The app
05:29 Is it safe?
Extra resources:
Compare current accounts 👉 www.finder.com/uk/current-acc...
Compare current accounts with rewards 👉 www.finder.com/uk/current-acc...
How to open a bank account online 👉www.finder.com/uk/open-bank-a...
#chase #chasebankuk #chasebankreview
Just a few notable omissions. The account has launched without the ability to process direct debits, no overdraft options, no cheque scanning functionality, no ability to pay cash in at post office etc and is currently not signed up to the Current Account Switching Service (CASS).
Yes, they have certainly launched with limited functionality. It'll be interesting to see when these features become available as a lot of its competitors already provide these services.
From my conversation with them on the phone post office support is coming very soon . At the moment though from what I was told you can top up via paypoint like monzo cards can .
The bank is literally 1 week old - this stuff takes time.
The direct debit thing can easily be handled. Many people have other bank accounts these days, so you can just use this as a spending account until they advance more. the 1% cashback was enough for me to use it as a spending account and to manage my money.
Do you think in the future they will bring their credit cards to the Uk market and compete with Amex? would love a sapphire reserve.
Hi Samuel, it certainly seems like Chase plan to launch a whole bunch of products here in the UK including investing and savings tools so fingers crossed that also includes credit cards. We'll keep you posted if we hear any news!
Nice. Seems like a good bank account. I live in the US and Chase US bank accounts suck. Monthly fees if your under a certain amount of money. No cash back, foreign transaction fee, And on some accounts you earn like .01% interest. Chase UK bank account sounds more similar to the discover debit cash back account. Which is what I use for my primary bank account. Although discover is not accepted very well outside the US. Hello cheese credit cards are pretty good. I have three of them. Amazon, ink cash, and sapphire preferred.
They’re reeling in customers, and once they’re as big as the US operations, they’re going to suck as much as the US accounts.
The nice bonuses are only active for 12 months, then what? Do they go away entirely?
very informative video. How does the 5% roundup work, let say I spent 70p. 30p would go into a pot, and I'd earn 5% on that 30p - but does that 30p get locked in for a certain amount of time or can I withdraw from that pot when I need it?
Also, as it's a mastercard, can this be used as a credit card i.e make purchases then pay it off when the balance is due? Or do I need to load the account with cash first before I can spend on it? It would be the perfect card if it's the former, but I suspect it won't be.
Not sure on the first one, but to answer the second one it’s a debit card, so you need the money in the account to spend it
@@POTUSgames doesn't matter any way. I can't sign up as the shitty app won't take a selfie of me. Absolute madness that this is the only way to sign up. Customer service are infuriatingly stupid and have no alternative way to sign up. I wouldn't trust these incompetent idiots with a penny of my money
Hi! Yes, the card is only a debit card as Chase have only launched a current account so far in the UK, so you can only spend money that you put into the account.
The question about how the 5% round ups is calculated is a very interesting one. The info in Chase's FAQs is very limited, so I contacted their in-app chat support who said that they would provide more information once the round ups feature is fully available in the UK. So I guess we have to watch this space for the moment. Not super helpful, I know!
You can withdraw from your pot anytime
It won't work on Motorola g6play
Would you recommend me putting my savings in this app's Saver account?
Hiya, it's tricky to recommend things for people as your circumstances and your needs will be so unique to you. If you want more info, I would recommend checking out our full guide here - www.finder.com/uk/chase-digital-bank-review
When opening an account with Chase, will they check your credit score? Will it be affected? Ty
Hiya! Thanks for getting in touch. Most banks will perform a credit check when you open a bank account, which might lower your score temporarily. But that should bounce back as long as you're not applying for loads of cards and accounts. Here's our full guide on Chase if you're interested to know more www.finder.com/uk/chase-digital-bank-review
Think a lot of people will switch due to the cash back and 5%. No need to be loyal for spending accounts right? Hoping my code comes through soon
Yeh, the rewards certainly set it apart from other digital challengers. But having so many options on the market means you can take the time to pick the right one for you. My code came in about a week, so fingers crossed yours comes soon!
@@FinderUK got my code 💪. That’s true the only other one I use tbh is Monzo as Starling was a bit of a nightmare for opening an account after an address change
Can I use your referral code for chase, please?
Not great.
Since day 1, I couldn’t get the verification to work that they had to escalate the issue in my account and haven’t helped getting it working for me till now, which is weird. Unfortunately, I didn’t reach a point to even try it out..
Sorry to hear that Yousif. Could be worth one last try, but I understand it can get very frustrating when you have to go back and forth between the app and the helpline.
What if you have cash you want to pay into your bank account?
As this is a digital current account you can't deposit cash directly into your account. Your best option is to deposit your cash into another bank account that has in-person branches, for example, and then transfer the money to your Chase account.
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
Absolutely, every little bit helps in the run up to Xmas, eh? I only had to wait a week for my code to come, so fingers crossed yours comes very soon. Once you have the code, it literally took a few mins to get my account up and running!
I am just about to sign up for a Chase mobile banking app. It is my intention to open a current and a saver account into which I shall be depositing quite a bit of money. I suddenly thought though, I have a Huawei smartphone. Is it safe to use mobile banking given that we are warned about compromises with using a Huawei phone regarding security and the evil CCP?
Hi there, the Chase mobile banking app is available on the App Store and Google Play, if those aren't compatible with a Huawei phone, you may have to use online banking only or potentially look at another banking app that is compatible with your phone. Hope that helps.
@@FinderUK It is not a compatibility issue, it is one of security regarding China and hacking.
The first review I've seen yet.
1% cashback, no FX fees, savings accounts with 5% interest to follow soon. Sounds great.
I'm still on the waiting list.
Thanks so much! Really glad you found the video helpful 😊
I was on the waiting list for about a week and got my code Monday - fingers crossed yours arrives soon!
Does it affect your credit report ?
Hiya, thanks for getting in touch. Opening a new bank account might temporarily lower your credit score, but as long as you don't have any outstanding payments or black marks on your report, and you don't open a new bank account too often, this should bounce back quickly.
If this bank is owned by banking group JP Morgan makes more sense to bring this to the US instead of UK since US banks don't do anything on these type of banking
Hiya, Chase have been around in the US for a while actually and is a household name over there. The UK launch is their way of branching out and delivering similar products over here. Hope that helps.
They did - it lasted a year. They don’t mention JPM after the European Super League fiasco.
To be honest I feel they are too late to the market most people would just chose starling or monzo as chase features are exactly the same
A fair point! It's great to have so many options out there so you can pick the right bank for your needs!
I was with monzo and left when their auditors had serious concerns of them going bust within 12 months . They've had two reports with the same concern and when they Rushed out monzo plus and took away features such as limiting cash withdrawals .
Starling is quite good I was with them only left them as people kept saying they had account closures .
If you are earning 5% interest on round ups, then someone else is paying triple that amount when they are borrowing. This is VILE a.f. wonder if I can switch off this function in my Chase account...