Chase UK Discussion

It’s been keeping my references for a year or more (Android). They’re held on the phone so might depend on the permissions you’ve given the app.

Seems like Chase will be continuing their cashback offer after March, with some slight amendments starting in April:

  • 1% capped at £25 per month
  • £1500 monthly pay in requirement
  • 2 active direct debits
  • doesn’t expire like the current offer does.
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Where’s that showing, please?

All I’ve seen from Chase is an email today about a delay in a cash deposit arrangement which I hadn’t asked about anyway. :smirk:

Someone over at the Monzo community asked customer support. Comes directly from a senior representative:

I imagine it’s something they’ll properly announce next week when the annual roadmap update should go live on the website!

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I’d happily move everything over to Chase - if they ever produce a joint account facility. Not so worried about a credit card I rarely use the one I’ve got. R-

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That new £25 monthly limit is a good ‘un. The conditions aren’t onerous, either.

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I’d be happy with this, £25 rather then £15 cashback limit is great!

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Aww that’s good as I am using chase as main account and I have all my dds on there. Plus the £1500 I can meet for wages. Glad to hear the £25 per month is there too for cash back limit.

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Yes indeed. A good move from Chase.

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£750 in/out/in/out (or variation on that theme) would do the trick for the £1500 for those of us cash-flow-inhibited.
Is that right?

I’m guessing ‘yes’ :slightly_smiling_face:

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Yes indeed.

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Yes.

The changes are probably a bigger barrier for those on lower incomes (they’ll need to deploy the old in-out-in trick to get around it), particularly younger folks who won’t be as likely to meet the direct debit requirement either, even if it’s their main or only bank, so I’m less keen on that part of the requirement. It’s just another hoop for those folks to find a way to jump through.

Rewind a few years, and I’d be in a bit of a bind because most of my bills were paid by a recurring card payment as opposed to direct debits. Bulb were card payment only when they launched. Sky Mobile were card payment too. Pet insurance was paid annually. Credit card bill I always paid in full by bank transfer. So I never really had anything besides my ISP bill, which wasn’t enough enough to meet the two bill requirement most banks require.

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From what I’m reading here and hereabouts, the idea of direct debits is a bit foreign for some and a dark art for others.

On the odd occasion when I need to prove the existence of active DDs, without the need to switch (as in this case) I’ve found it simplest to either set one up with a charity (RSPCA, PDSA etc) anew or, as I did today, phone the charity and have them changed the bank details.

I can hear folk railing against the phone thing, but for a two minute call to a nice person, it’s a doddle.

So - job done - DDs will be in place by the time the new rules apply.

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Will it matter if these two DDs are with the current account or even if they are on a savings account? I know many banks want them to be on the current account but guessing Chase may do their “thing” and consider any two DDs on any Chase account hold to count.
I just don’t want to move them from the savings account to the current one, as the current account almost runs dry everyday. I do no want to keep an eye for DDs or wait for those messages to pay in by 2pm

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Guessing that Chase will make it Chase wide.

Unfortunately I will have to cheese the £1500 a month in pay-ins for a while :frowning_face:

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Do other banks let you have direct debits out of your savings?

I think that might be the key differentiator here.

Chase don’t really promote or publicise the fact you can have direct debits on the savings account, they only advertise it as a feature of the current accounts. The wording in the customer support chat suggests they need to come out of one of the current accounts, but I’m hoping all you need to qualify is to have active direct debits set up on any any account, and that as long as they show up in scheduled, you’ll be good, and that’s all that matters.

I suspect that’s how it will ultimately work since Chase are implementing the requirements to encourage using it as your main bank account. But I wouldn’t 100% bank on it until it’s live and we can test that.

It’s ultimately a wait and see on this one.

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Strong offer, very generous. I wouldn’t expect this to last forever despite the lack of an end date, but one to enjoy in the meantime.

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This was exact wording I got when asking chase in chat. “ Yes, the cashback will expire on the month of March, 2024 as we will introduce a new cashback on the month of April 1st, 2024. In the month before, you need to credit £1,500 into your Chase current or savings account (internal transfers excluded) and have 2 or more active direct debits across any of your Chase current account. Next month, you can earn 1% cashback on eligible debit card spend, up to £25 p/m and with no fixed end date on the offer.”

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Really pleased with this development. :relieved:

On a side note, though, Chase’s choice of language continues to clunk unnecessarily. In this instance, taking @Gallifreyangirl‘s quoted text, they appear to be copying and pasting without checking the syntax.

In no way a biggie. Odd nonetheless as a little proof-reading would resolve. Anyway, moving on…

Edit: I’ve retracted my grammar-related comments further down. (Still grates though :smile:).

Yes it was copied direct from chat.

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