The Top Easy Access Savings Discussion Area

crumpet_man

jaypers said:

I’ve also had an email offering me 1% on the current account from April with no minimum deposit etc, but nothing about extending my cashback. Only have Chase for the cashback really now so it will be goodbye Chase. 

Probably because your 1% cashback offer does not expire until after the new scheme has been introduced.  You may well get an email next month to advise you to pay in £500 in April to continue earning cashback.

CheekyMikey

cloud_dog said:

CheekyMikey said:

Nick_C said:

jak22 said:

1% interest on the current is handy but maybe we can just txfer £500 out and back in to the current once a month to trigger the cashback which is pretty instant.

From an external account, yes.  From Chase Savings, no.

The 1% on the current account is of little benefit to me.  The only time I have money in Chase Current is to cover debit card transactions.  There is rarely a positive balance at the end of the day.

Chase Savings is brilliant in allowing multiple scheduled faster payments, SOs and DDs.  The only point of using the Current Account is for the cashback on the debit card.

Not quite the only point…it’s great for using when abroad as you get an excellent Mastercard exchange rate and no transaction fees either when using to purchase items or at ATMs, plus you get the 1% cash back on purchases too. So just before you go on holiday, pop £500 in the current account and happy days…leave your credit card at home

I don't care how much cash back is available, I never use my bank debit cards abroad.  But then I am paranoid.

I’d still use it for the favourable exchange rates and no fees, the cash back doesn’t amount to that much anyway…not much can go wrong using a debit card for an account with only £500 in it. I’d rather that was nicked than a credit card…

savethepandas

patpalloon said:

MrPG said:

New Chase offer on cashback. Just received this email. Looks like they want to keep business.

Good news – your new cashback offer is coming soon! With monthly cashback, you'll be able to be rewarded for your everyday debit card spending for up to 12 more months1. While we get monthly cashback ready, we're going to keep giving you 1% cashback2 on your everyday debit card spending with your current offer until 00:00 on 1 April 2023. And that's not all... Starting in April, you'll earn 1% AER interest3 on all your current account balances. It's another way for you to get more from your money – as part of our promise of rewarding banking. We'll let you know when it's ready. How monthly cashback will work ·     From 1 March 2023, pay in £500 to your Chase current account each month to qualify (excludes internal transfers) ·     Then the next month, you'll be able to earn 1% cashback – up to £15 – on your everyday debit card spending ·     Qualify each month to earn cashback the next month, for up to 12 months

How long have you had Chase? I've been with them since April 22 and had the email about 1% interest on the current account from April but not the cashback continuing.

Both me and my partner opened Chase at the very beginning. I have the same email as MrPG, but OH just had his cashback extended to end of April (no requirement to pay in £500) and no mention of interest on the current account. So several different emails have been sent out.

MrPG

Updates on Chase website https://www.chase.co.uk/gb/en/updates-from-chase/coming-soon-2023/

patpalloon

Thanks for replies. It's possible I didn't read the email properly, I've deleted it now 
So presumably there's nothing to stop you paying in the 500 quid each month and then withdrawing it? It just has to be from an external transfer .

janusd

patpalloon said:

Thanks for replies. It's possible I didn't read the email properly, I've deleted it now 
So presumably there's nothing to stop you paying in the 500 quid each month and then withdrawing it? It just has to be from an external transfer .

I read through the terms earlier today and saw nothing to stop you from doing that.

Band7

Any chance people could take their discussion about Chase cashback to the Chase thread so this thread can revert to topic?

Nick_C

Band7 said:

Any chance people could take their discussion about Chase cashback to the Chase thread so this thread can revert to topic?

Well Chase is one of the Top Easy Access Savings Accounts.  And you have to open the current account to get access to the savings account.  The cashback and lack of foreign exchange fees are two things that make Chase stand out from the pack.

So for anyone looking for a top easy access account, these are relevant factors. 

Band7

Nick_C said:

Band7 said:

Any chance people could take their discussion about Chase cashback to the Chase thread so this thread can revert to topic?

Well Chase is one of the Top Easy Access Savings Accounts.  And you have to open the current account to get access to the savings account.  The cashback and lack of foreign exchange fees are two things that make Chase stand out from the pack.

So for anyone looking for a top easy access account, these are relevant factors. 

There is no cashback on the Chase Easy Access Saver, which itself is of course a valid subject for this thread.  Whether you have the Chase Easy Access saver or not doesn't influence the cashback (or any other Chase offerings), and vice versa. 

Johnjdc

https://www.bloomberg.com/news/articles/2023-02-16/bank-of-england-s-pill-sees-risk-of-overtightening-interest-rate