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  • refluxer
    refluxer Posts: 3,238 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

  • Nick_C
    Nick_C Posts: 7,622 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Home Insurance Hacker!
    refluxer said:
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

    The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.
  • Marcus Bank have increased their instant access rates to 1.8% which is quite good. Unlike some of the challenger banks, moving money from them into your nominated account is literally instant.  i.e. if you transfer money by the time you log on to your nominated account the money is in there. With most of the challenger banks it is by close of business the following working day which can be problematic if over the weekend. 
  • RG2015
    RG2015 Posts: 6,064 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Nick_C said:
    refluxer said:
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

    The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.
    This is a valid point. It is probably unique for an interest paying account at this level of interest.

    From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

    I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%
  • AndyTh_2
    AndyTh_2 Posts: 340 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    edited 28 September 2022 at 2:01PM
    RG2015 said:
    Nick_C said:
    refluxer said:
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

    The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.
    This is a valid point. It is probably unique for an interest paying account at this level of interest.

    From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

    I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%
    Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.
  • RG2015
    RG2015 Posts: 6,064 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    edited 28 September 2022 at 2:17PM
    AndyTh_2 said:
    RG2015 said:
    Nick_C said:
    refluxer said:
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

    The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.
    This is a valid point. It is probably unique for an interest paying account at this level of interest.

    From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

    I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%
    Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.
    I had two with £20k in each earning £100 per month and cashback which easily covered the monthly fee of £2.00 on each one.

    Moreover, I did not have to keep moving money to better paying savings accounts.

    Oh Happy Days!
  • Section62
    Section62 Posts: 10,107 Forumite
    1,000 Posts Fourth Anniversary Name Dropper
    edited 28 September 2022 at 2:24PM
    fearbeag said:
    Marcus Bank have increased their instant access rates to 1.8% which is quite good.
    I think that happened a while back, not sure exactly when though.

    Edit: 22nd September.
  • RG2015 said:
    AndyTh_2 said:
    RG2015 said:
    Nick_C said:
    refluxer said:
    I think it's safe to say that Chase's recent UK launch campaign has been successful in attracting new customers and that they have no reason/need to increase the rate on their Chase Saver account any time soon - presumably doing so would just add to their predicted losses.

    JP Morgan's digital bank Chase hits 1 million UK customers

    The savings account is brilliant.  I have 14 scheduled monthly payments going out of it to feed Regular Savers and current accounts with other institutions.  Just need to make one payment in each month from a high interest instant access account to keep the whole thing going.  I don't know of any account that would give me that level of functionality and 1.5% interest.  And it processes payments at the weekends and on bank holidays.
    This is a valid point. It is probably unique for an interest paying account at this level of interest.

    From my perspective, I have plenty of spare time and my number one goal is rate maximisation.

    I guess you keep the Chase balance to a minimum and have any other savings in an account offering much more than 1.50%
    Yes, the only thing I’ve used close to that in the past was the 123 current account when it gave 3% on £20k, and so for the forceable future my chase savings account is my fake main current account, and not my savings account.
    I had two with £20k in each earning £100 per month and cashback which easily covered the monthly fee of £2.00 on each one.

    Moreover, I did not have to keep moving money to better paying savings accounts.

    Oh Happy Days!
    I had 2 as well. I called my second one the “2 3 4 current account” and still remember a call centre person giggling when they saw it.
  • Tandem's instant access saver account is now paying 1.85%.
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