Yes, understood re. Nutmeg and its portfolios: My question was whether, incentive-wise, you could get away with just injecting the 1000 and let it sit pre-portfolio-investment before pulling it out again once the tie-in date passed.
I’d presume not, just given how I understand the product to work from my use of it.
You’d have to wait for it to be invested, then ask for it, and wait for that process to complete.
Yes, thought that might be the case - second and third bullets I posted above leave that a bit ambiguous though, given that ‘pot’ refers to GIA, ISA etc., i.e it doesn’t specify that the 1000 must actually be poured into a portfolio.
Does it matter? Just stick it into a LISA and sit on it for the long-term; chances are it’ll be a net benefit
It does if you just wanna rinse a quick bit of cash out of it and get out quickly.
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Whoopee! just qualified for the latest iteration of cashback. Effectively makes zero difference to me from the previous version. I’m not kicking it though because it smashes anything Starling has hence why I’m now running a zero balance with Starling because they quite literally have nothing worth offering.
I offed my Starling account as switching fodder for one of the big bank bribes last year.
Having tried it twice don’t think I’ll ever be wanting to go back for a third, even if they do get competitive. Chase fills the same role and does it better. Kinda renders Starling obsolete.
I said from the outset they felt like more of a threat to Starling than to Monzo, and that seems to be true from the patterns I’m seeing amongst my friends (and now you) who banked with Starling prior to Chase.
Even if the cashback were to go away, I don’t see anyone switching back in a hurry either.
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I’m using chase as my spending account and starling for bills just because it has my overdraft just incase and nationwide for the flex plus benefits and at the moment cashback for supermarket
Have to disagree. Starling is the one fintech that I’d go back to, rather than Chase or Monzo. It has some maturity and reliability and “just works”. That’s more important to me than the odd bit of cashback (and it would be a bit because I just don’t spend that much now that I’m retired).
I’m happiest with just a single main current account and a credit card or two nowadays, and the more reliable it is, the better.
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Starling is very smooth and clean UI. It also has features free that others charge for.
Since being with chase I kinda want to go back to starling.
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To be fair, I’ve had no reliability problems with Chase. Starling sadly for me, have become basically rather boring. Their in credit interest is literally pointless, you’d have to have hundreds of thousands in the account just to earn similar interest that Chase gives in cashback.
Chase are no where near perfect, but they’re improving all the time.
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True, but in all honesty I think they’re tying you into an investment product for the reason of keeping you around; not for a quick bonus
Can’t blame you, their performance really has been shocking as of late.
I feel like Starling could have me (by large) back, too. There are only some minuscule changes like letting me see all my cards in one place instead of having to chase them (and giving you a separate one for the EUR account).
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I’m seeing plenty of people go back to Starling after not being impressed with the Chase app.
Starling has been built better and is more reliable which is what you want from a bank so hardly surprising.
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I might be missing something hugely obvious but I haven’t had a penny of interest paid to any of my Chase accounts since I opened them in early February. Is there a date or frequency of payment ?
Are the accounts savings accounts or current accounts? You get a choice when opening one. Only the savings ones earn interest.
Interest is paid monthly.
I have 2 savings accounts and the 1% cash back current account (and 5% interest in the latter). Not a penny of interest so far.
Is it plausible that you both didn’t have enough money in there and/or for long enough that it would have earned less than 1p by March 1st? If so, you should see your first interest payment in April.
Same for the round up account. It’s paid monthly on the first, only once you’ve accrued enough to actually be paid at least a penny in interest.
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As far as the word reliability is concerned, if that is in any way connected to Chase, then I’m somehow failing to see exactly where the reliability issues are. Admittedly in the early days of the Chase launch, notifications were poor but that has now reduced to just a few seconds when transferring cash between banks. Otherwise, it’s a pretty good experience all round for me personally. My salary gets paid in, I’ve got both standing orders and direct debits going out and it all just works for me.
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Glad it’s working well for you but it’s still not the bank for me.
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Interest is paid into your account every first day of the month.