Chase UK Discussion

I’m moving my charitable stuff over, starting, obviously, with The Donkey Sanctuary. :relieved:

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I’m off to NYC in a few weeks time, be nice to be able to take some cash out with no fees and pay all those tips.

Looks like we will also get notifications about upcoming DD’s

https://twitter.com/chase_uk/status/1499686115112103939?s=21

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No cashback on DDs is a shame. It pigeons chase squarely in the debit card spending account box for me

Set up most of my Direct Debits and moved salary payments over.
Setup a new account just for DD’S.
Looking forward to seeing how it all goes, especially interested to see what sort of notification I’ll get for upcoming DD’S.

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Good point.

Apparently cashback is coming to Direct Debits

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:thinking:

But the same CS who said this week that DDs would be delayed due to technical issues, only to launch on Friday anyway :man_shrugging:

I would not believe anything CS say in response to future features or offers tbh.

I will just wait and see what arrives :smile:

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Worth noting that Chase will get something each time you spend on your debit card (it won’t be 1% mind) but they won’t get anything at all for a DD payment and will have to pay toward Bacs for running the scheme.

I know Santander offer cashback (offset by a monthly fee) and RBS Group previously did too, but they haven’t offered any cashback on debit card spend other than the retailer offers (which are funded).

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I cannot see them doing two concurrent loss leaders tbh.

They may introduce DD cashback when DC cashback ends, however, that’s just my thoughts on it.

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These are my thoughts. Would be pretty punchy if they offered something like 1-2-3 Lite and with no fee.

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Yes, in which case it would be “cheerio Santander”.

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Every agent is saying something different .
On Twitter they told me it is not something planned for.
Another user on Reddit was told this :arrow_down:

I reckon your questioning reached above their pay-grade.

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From the support document about direct debits:

Of course that might change in the future. Maybe. Possibly. You never know. But definitely not there today.

I’ll hold my hand up here, but I’m actually really surprised why anyone would think a bank would offer cashback on direct debits? I haven’t checked, but have any other banks offered cashback on d/d’s? If not, why has this even reared it’s head? or is it just absolute total wishful/fanciful thinking?

It just seems a bit too much of an expectation of any customer to want cashback on d/d’s, but then perhaps I’m in a different mindset to some.

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Santander 123?

Well there you go! I did say I hadn’t checked as to whether this type of incentive was done by any bank. I know nothing about Santander 123 and I won’t ever have an account with Santander so I guess I’ll never know.

I still wonder though, is it really an expectation by most customers that a bank would offer cashback on direct debits? I wonder how much this incentive costs Santander overall and is it sustainable in the long term?

They do charge a monthly fee and have a minimum monthly pay in too.

I left because when they changed the offering, I was making less than a £1pm.

Got a switch bonus instead.

Most banks offer some sort of incentive for getting paid into, and paying DDs out of the account