Chase UK discussion

Zuzi

I will admit I got a bit worried reading about the issues with transferring out. I decided to put a significant amount into a 1y bond and started taking money out of Chase yesterday (into the account that I originally filled it from). My transfers - 4 so far - were all directly from Chase Saver and the first 2 yesterday were held up for cca 4 hours and further 2 today for a few hours each, but then released without a phone call or similar.

I am hoping to get the rest out as easily, but will still leave a 5 figure amount with Chase as well as continue to top it up. It is my main spending account and I love the round-up, I am only really moving the savings out because I get 1pc more elsewhere and I won't need that money for the next 12 months. Except for a one-off problem with a duplicate transaction and the slight inconvenience of transfers out being held up, I am still a happy Chase customer.

Sensory

I suspect it's the combination of their referral scheme, plus Virgin's superior interest rate resulting in a deluge of transfers out, that caused unexpected chaos to their systems and staff.

k_man

Looks like Chase have admitted there was an issue, resolved last night. Probably now going through the backlog

https://www.moneysavingexpert.com/news/2022/06/hundreds-of-chase-customers-have-had-their-payments-frozen--leav/

Nothing reported in Chase Service Status though, even historic/resolved.

The_Green_Hornet

k_man said:

Looks like Chase have admitted there was an issue, resolved last night. Probably now going through the backlog

https://www.moneysavingexpert.com/news/2022/06/hundreds-of-chase-customers-have-had-their-payments-frozen--leav/

Nothing reported in Chase Service Status though, even historic/resolved.

The fact that it has taken them a week to admit that they had a "technical glitch" doesn't bode well for the future.

k_man

The_Green_Hornet said:

k_man said:

Looks like Chase have admitted there was an issue, resolved last night. Probably now going through the backlog

https://www.moneysavingexpert.com/news/2022/06/hundreds-of-chase-customers-have-had-their-payments-frozen--leav/

Nothing reported in Chase Service Status though, even historic/resolved.

The fact that it has taken them a week to admit that they had a "technical glitch" doesn't bode well for the future.

The admission may be for a specific issue, rather than general. Especially as the MSE article states:
all outstanding payments were cleared that evening.

And even then, no direct admission, or any update on the service status.
Not handled well from Chase.

miller

Most "breaking news" I'll get here on MSE or other financial press first these days. Poor indictment on the organisations concerned and the toothless FCA.

DiamondLil

northwalesd said:

I transferred another four figure sum out of my Chase savings account this morning, again no issue. Just to give the other side of the coin.

Me too - four figure sum transferred out at 9.28 this morning and the funds reached the destination bank within minutes.

uk1

Hi,

I’m unclear about the “account” in my Chase app called “Rewards”. Is it this account that earns the 5%, or if not is there any reason to leave cash there rather than periodically transfer it to one of the other accounts?

Thanks

wiseonesomeofthetime

Rewards is your 1% cashback, so no. You don't. 

Round ups is the 5% account. 

uk1

wiseonesomeofthetime said:

Rewards is your 1% cashback, so no. You don't. 

Round ups is the 5% account. 

Many thanks.  To clarify.  I don’t move it or I do not earn any more by leaving it there?