Chase UK discussion

RG2015

You don’t earn any more but you can move it whenever you wish.

uk1

Many thanks both.

My confusion was because Santander pays cashback into the current account it was earned in and I thought there must be some reason I was missing for Chase separating it. It just seems pointless leaving it in an account that has no purpose. 

RG2015

uk1 said:

Many thanks both.

My confusion was because Santander pays cashback into the current account it was earned in and I thought there must be some reason I was missing for Chase separating it. It just seems pointless leaving it in an account that has no purpose. 

Yes, Santander are pretty simple, but all banks have their peculiarities. There is no real logic to Chase’s process.

Natwest, on the other hand make you wait 35 days for their rewards. Then you can choose from several options ranging from cash transfer to trade up vouchers or charitable donations.

There is no logic in donating to charities this way as there is no gift aid and no idea when the money is transferred. If I wish to donate, I will do that from the cash I transfer to my current account.

wiseonesomeofthetime

I think Chase's logic is so that you can actually see the amount of cashback you are earning, as it does not get lost in the transaction list of the spending account.

That said, even after you withdraw it, you can still see how much in total you have earned in Rewards since activating the feature in-app.

Daliah

comperinha said:

Daliah said:

You can use Starling Bank or Fineco Bank for international payments.

These are not fee-free. Starling charge a 0.4% fee plus a SWIFT fee of £6.50 (depending on payment amount, I don't know). I suppose mainstream high street banks charge more than this.

Fees are only one part of the equation. The exchange rate used is the other part. SWIFT is the method you have to use for payments to some, but not all, countries. What counts (apart from security and speed of transfer) is the bottom line amount that arrives the other end.

Zuzi

Has anyone noticed issues with incoming payments to Chase accounts? I just transferred a humble 50GBP from the account that I have used many times for these transactions, and still waiting for the text as well as the money in my Chase account. Money has left FD but apparently not reached Chase yet... I hope they're not having a new issue. 

Not a particularly big deal, I'll just put the takeaway on the credit card, but this is the first time I have a problem like this.

ETA: this is now solved, but it took 8 minutes for the balance to appear with Chase. I understand that this may have been the originator account's issue too, just thought it was strange because dozens of times the same kind of transaction (much higher amounts too) was instant.

trickydicky14

Have folks noticed an improvement in getting cash out of Chase?

After two weeks of hell, I moved 10k this morning without a problem. Hope that’s all behind us now.

Fingerbobs

Zuzi said:

Has anyone noticed issues with incoming payments to Chase accounts? I just transferred a humble 50GBP from the account that I have used many times for these transactions, and still waiting for the text as well as the money in my Chase account. Money has left FD but apparently not reached Chase yet... I hope they're not having a new issue. 

Not a particularly big deal, I'll just put the takeaway on the credit card, but this is the first time I have a problem like this.

ETA: this is now solved, but it took 8 minutes for the balance to appear with Chase. I understand that this may have been the originator account's issue too, just thought it was strange because dozens of times the same kind of transaction (much higher amounts too) was instant.

I made similar comments about Marcus (the Goldman Sachs savings account) when that first opened, as inbound Faster Payments don't appear for about 10-15 minutes in that account, and everyone poked fun at me saying I was "impatient"

Zuzi

See that is a good point, and something that shows how different expectations can be - I have a Marcus account too but since I was using it for savings, I never really cared much how long the payments into it took. With Chase, I like to use it as a spending account (for cashback as well as round-up) so even 8 minutes can feel long when I am hungry and have let my balance reach zero 

northwalesd

I've just sent some money into Chase from Lloyds, it was in there before I could exit one app and open the next.