Chase UK discussion

crumpet_man

I have had refunds but via Curve as I only ever use Chase behind Curve.

Richchad

gizz_10 said:

Has anyone had this issue with Chase yet? I was due a credit for a refund to my chase debit card which the retailer tried to process but Chase declined the refund. When I contacted Chase on app chat they said they don’t currently accept credit refunds. That’s a worry as most retailers will on,y refund back to the card you paid with. Would make me think twice about using my Chase card, eg Asda online is always refunding small amounts to my card if on the day of delivery they don’t have everything I ordered in stock, or if I return a damaged item etc. 

I have never had a problem, I regularily get refunds from Asda and Tesco, had one just last week from Asda so not sure why they are saying that?

crumpet_man

I recall something about MasterCard issued debit cards not accepting credits other than refunds from a purchase which was made on that card.  For example, cashing out from an online gambling site or investment account.

masonic

It is is processed as a refund of a prior purchase then it shouldn't be an issue.

k_man

gizz_10 said:

Has anyone had this issue with Chase yet? I was due a credit for a refund to my chase debit card which the retailer tried to process but Chase declined the refund. When I contacted Chase on app chat they said they don’t currently accept credit refunds. That’s a worry as most retailers will on,y refund back to the card you paid with. Would make me think twice about using my Chase card, eg Asda online is always refunding small amounts to my card if on the day of delivery they don’t have everything I ordered in stock, or if I return a damaged item etc. 

Out of interest, who was the merchant/retailer?

As above, I have had a number of refunds (albeit all via Curve) but only against specific previous debits.

Ballard

Wheres_My_Cashback said:

k_man said:

RG2015 said:

k_man said:

Wheres_My_Cashback said:

k_man said:

Aside from the potential risk of account/benefit suspension, you are unlikely to get rich on 5% interest on the roundups (after 12 months).

So:
Spending lots of 1p to 5p on eBay to make... not even 5p on each one (after 12 months)
Or going through multiple supermarket checkout and pay processes, to make... up to 5p for each one (after 12 months)

ETA: round up account balance is transferred out annually, so 5% is the theoretical maximum AER, for round ups on day 1.

Potential risk based upon anecdotal hearsay on a public forum only. You may as well have quoted from the Daily Star/Mail.

It seems we have different interpretations of the term potential risk

Mine was
a thing that has the possibility of occuring, but with no indication of probability

Surely the point is that it is based on hearsay, not the possibility or probability of it occurring. 

It is still not worth it, and isn't free round ups!

I believe the £335 which has taken minimal effort to accrue, currently sat in my round up account at 5% in less than 52 days is very much worth it as it's better than many regular savers on the market.

Each to their own and I’m not decrying your efforts at all but I’d say that that’s a fair amount of effort. Roughly 7 transactions ending in a penny every day to get to that total and at the end of it you’ll be something like £11 in profit at 3.5% (5% less the 1.5% you’d have got from the savings account). 

anotheruser

masonic said:

Chase owe it to customers to be up front about what they need in order to use the app.

They OWE it to customers?

No, they do not.
Just because you think they do, doesn't mean they actually do.

anotheruser

adindas said:

Spring to mind what about buying1-5p item just to get round up 95-99p for each purchase ??

You could easily do that in quiet supermarket by paying each single item you buy with debit card rather than paying the whole shopping in one go.

And how long would that take you?
Considering things are priced all over the place these days, you'd have to buy a lot of .01p / .02p items.

Let's say each one takes 1 minute to scan at the self-checkout (IE, scan, click through the screens, pay, remove from bagging area).
You have 10 items, so take 10 minutes.
Let's give you the most money possible to transfer, which is 99p.  However, to make the math easy, we'll even round it up to one whole pound.
So it's fair to say £1 per minute could be transferred to the round up account, which for our example is £10.

However, we're only really looking at the interest, that's 5%.
5% of £10 is 0.50 - 50p.
So for that 10 minutes of your life, you've earnt 50p.
To make it easier to understand for some, let's increase that to an hour.

Nobody would work for £3 an hour.

masonic

anotheruser said:

masonic said:

Chase owe it to customers to be up front about what they need in order to use the app.

They OWE it to customers?

No, they do not.
Just because you think they do, doesn't mean they actually do.

Yes, they owe it to customers to be clear, fair and not misleading in their communications about how their services can be accessed. That's a regulatory obligation.

gizz_10

k_man said:

gizz_10 said:

Has anyone had this issue with Chase yet? I was due a credit for a refund to my chase debit card which the retailer tried to process but Chase declined the refund. When I contacted Chase on app chat they said they don’t currently accept credit refunds. That’s a worry as most retailers will on,y refund back to the card you paid with. Would make me think twice about using my Chase card, eg Asda online is always refunding small amounts to my card if on the day of delivery they don’t have everything I ordered in stock, or if I return a damaged item etc. 

Out of interest, who was the merchant/retailer?

As above, I have had a number of refunds (albeit all via Curve) but only against specific previous debits.

well it was Airtime rewards - i have done several purchases of giftcards from them - but when i tried to refund the app credit to the same chase card it was declined - when i look at the transactions in my chase app i can see the gift card purchases are against Airtime Rewards Ltd but the refund is against Airtime Rewards (no Ltd).  It might be that they use a different merchant code for the refunds vs the purchases but i have raised a support ticket to ask them.  They are currently refunding to bank account cashback for Vodafone customers as they have been having problems assigning the cashback to vodafone accounts.