There is CASS, just not in app yet. It’s a very solid offering for what looks like an open beta launch, and includes unique features and market leading offers (for now)
1 Like
Good point. I’d just assumed that. 
You’re right in assuming it. They just chose not to make a song and dance about it as it’s expected and something others already do. Instead focusing on their unique features.
The App Store description and a vague reference in the FAQs are the only places they talk of notifications, but they’re there.
4 Likes
Considering they’re supposed to be a fintech is there any information on the tech side of things? 🤷
I want to know how long their maintenance periods are going to be 
1 Like
They’ve built their own technology stack specifically for this project from the ground up, according to the Sifted article.
We don’t know very much about the technical details, but I would expect it to be cloud hosted and built in a modern way - so little downtime.
3 Likes
Are they actually a member of the CASS scheme, though? What happens when they try to switch your direct debits?
When I read the bit about switching it reminded me of the pre-CASS days when it was much more ‘best efforts’.
1 Like
I think this is their pre-CASS and pre-direct debit approach.
I suspect when they have both ready they’ll launch at the same time in app.
If you’re planning to join CASS and support direct debits, you’re not going to waste resources building an ad-hoc system for switching that will only be temporary.
I just couldn’t switch to this bank even if I liked it as they could just decide to withdraw in a year 🤷
2 Likes
So could any bank, really.
With the amount they’ve invested in building this from the ground up. The amount of money they’re throwing at it, and the fact they have a U.K. license, it would be very very unlikely they’ll pull the plug.
Worst case scenario, they sell it.
5 Likes
I quite like the idea of 1% cashback on debit card transactions for one year. And round-ups go in to a sort of savings account earning 5%. Clearly Chase have some deep pockets.
4 Likes
No, it doesn’t appear so.
It won’t work as they aren’t in the CASS scheme.
“Switch” in this context doesn’t mean a CASS switch; just using your Chase account as your “new” account and they will endeavour to contact regular payors, etc, to your account on your behalf to get the payments moved. As others have said, like pre-CASS “switching”, basically.
Agreed!
1 Like
Thanks. I like that style.
1 Like
I just think of what happened to N26. If they don’t meet targets they’ve set they will probably just withdraw completely from the UK.
The name Chase doesn’t mean anything in the UK so they’re in for a real struggle.
1 Like
I agree, any “traditional” bank would be happy to buy it just for the technology, and they would probably keep the customers too but just rebrand it back to their own parent brand.
Then migrate their old customers onto the new platform over time (the tricky bit).
2 Likes
Dude! They bought freakin’ Nutmeg! And they have a license. And built the entire platform from the ground up, specifically for the UK. And built an entire U.K. based team to build all of it.
N26 just ported an already built app, hired a few U.K. staff to run things, and were passported on their German license.
This is not another N26, or Bo.
4 Likes
Neither did Monzo, or Starling, or Revolut…
I could go on! Branding isn’t everything and they are still entering the market here at a relatively early stage. It may feel mature to us, as we’ve been following it for so long, but to the average person app-only banking is still a novelty.
With swathes of recent branch closures and people re-assessing their digital banking needs post-pandemic, it may actually be a great time to launch.
Also, as @anon62610374 says, both N26 and Bó were decidedly more amateur. Bó especially had a terrible app (not even supporting Face ID) and N26 was a cut and paste job of their German app - with no tailoring to the U.K. market, just throwing a small marketing budget at it to hope it would catch on. Chase have built a bespoke new app for the U.K. from a London-based team. It’s not the same at all.
5 Likes
I’ve got a funny feeling they know what they’re doing !
4 Likes
The offer is attractive too. I’m the banking nerd of my friend group, and they know I’ve been getting excited about this.
They didn’t care until the saw they saw the 1% thing and the 5% on roundups. Two of them are now on the wait list and planning to switch from starling once they have direct debits on the back of those two things alone.
2 Likes
There we are.
I said teaser rates do work, and many people were sceptical about it!
I’m certainly considering shifting my daily spending (other than important Section 75 stuff) onto their debit card instead of using a credit card all the time.
2 Likes
A numberless card, with the ability to update the card number through the app, is definitely interesting, as very few others offer the former (let alone the latter) currently in the UK.
Apple Pay is mentioned, but no mention of Google Pay at this stage.
5 Likes