Chase UK discussion

Marchitiello

SarahLu said:

I am considering opening an account with chase. I see that they don't allow international payments. Currently, the company I work for pay me in USD via Payoneer and I then manually transfer it into my bank account. I'm assuming this would not be possible with chase? Payoneer do use the Global Payment Service, so perhaps if I moved/converted my balance from USD to GBP on Payoneer and then transferred it to Chase it might work, but I don't know if it would cost me any more (or less?) to do it that way. Does anyone have any experience with this or know if Chase would except a transfer from Payoneer? I've tried asking Chase but all they keep doing is replying with a link to their FAQ document.

All I can say is that they officially do not issue you with an IBAN and in theory you cannot receive international payments but I have extrapolated my IBAN (mentioned earlier in this thread)  and sent myself money from a EU based account I have. 

Having said that if you get paid in USD, you may be better off with one of the two routes we have mentioned in another thread recently:

Fineco UK multi currency account

HSBC (you needs to have a GBP account and open both a Currency Account and Global Money Account. You will use the Currency Account to receive USD, then internal Transfer to Global Money  USD pot, and within Global Money convert at very good rates) 

SarahLu

Marchitiello said:

SarahLu said:

I am considering opening an account with chase. I see that they don't allow international payments. Currently, the company I work for pay me in USD via Payoneer and I then manually transfer it into my bank account. I'm assuming this would not be possible with chase? Payoneer do use the Global Payment Service, so perhaps if I moved/converted my balance from USD to GBP on Payoneer and then transferred it to Chase it might work, but I don't know if it would cost me any more (or less?) to do it that way. Does anyone have any experience with this or know if Chase would except a transfer from Payoneer? I've tried asking Chase but all they keep doing is replying with a link to their FAQ document.

All I can say is that they officially do not issue you with an IBAN and in theory you cannot receive international payments but I have extrapolated my IBAN (mentioned earlier in this thread)  and sent myself money from a EU based account I have. 

Having said that if you get paid in USD, you may be better off with one of the two routes we have mentioned in another thread recently:

Fineco UK multi currency account

HSBC (you needs to have a GBP account and open both a Currency Account and Global Money Account. You will use the Currency Account to receive USD, then internal Transfer to Global Money  USD pot, and within Global Money convert at very good rates) 

Thank you for your reply. I am currently with HSBC. When I make the transfer into them from Payoneer, it is converted to GBP first. I believe all I needed to set my account up on Payoneer was the sort code and account number, I don't think I needed an IBAN, but its a while since I set it up. If it were only a sort code and account number needed do you think it would work with Chase?

RebekahR

I've been on the Kroo boat but by god the app is horrific and on day 3 of trying to open an account i've given up to it hanging! I've lost all trust. I hear however these dudes have just upped their interest to match. Just trying to get my head round how this works. Can someone give me a low down please? Is it a current account like Kroo that pays you interest of what you have in it? Or do you have to transfer out to a savings account to get that 3%?

flaneurs_lobster

RebekahR said:

I've been on the Kroo boat but by god the app is horrific and on day 3 of trying to open an account i've given up to it hanging! I've lost all trust. I hear however these dudes have just upped their interest to match. Just trying to get my head round how this works. Can someone give me a low down please? Is it a current account like Kroo that pays you interest of what you have in it? Or do you have to transfer out to a savings account to get that 3%?

https://www.chase.co.uk/gb/en/

Marchitiello

SarahLu said:

Marchitiello said:

SarahLu said:

I am considering opening an account with chase. I see that they don't allow international payments. Currently, the company I work for pay me in USD via Payoneer and I then manually transfer it into my bank account. I'm assuming this would not be possible with chase? Payoneer do use the Global Payment Service, so perhaps if I moved/converted my balance from USD to GBP on Payoneer and then transferred it to Chase it might work, but I don't know if it would cost me any more (or less?) to do it that way. Does anyone have any experience with this or know if Chase would except a transfer from Payoneer? I've tried asking Chase but all they keep doing is replying with a link to their FAQ document.

All I can say is that they officially do not issue you with an IBAN and in theory you cannot receive international payments but I have extrapolated my IBAN (mentioned earlier in this thread)  and sent myself money from a EU based account I have. 

Having said that if you get paid in USD, you may be better off with one of the two routes we have mentioned in another thread recently:

Fineco UK multi currency account

HSBC (you needs to have a GBP account and open both a Currency Account and Global Money Account. You will use the Currency Account to receive USD, then internal Transfer to Global Money  USD pot, and within Global Money convert at very good rates) 

Thank you for your reply. I am currently with HSBC. When I make the transfer into them from Payoneer, it is converted to GBP first. I believe all I needed to set my account up on Payoneer was the sort code and account number, I don't think I needed an IBAN, but its a while since I set it up. If it were only a sort code and account number needed do you think it would work with Chase?

I am not familiar at all about Payoneer, but you would need to open a separate Currency Account within HSBC in USD. You would use this only to receive USD (if payoneer allowed to set up a payee with an IBAN or even if your employer could pay you directly there. However as the HSBC Currency Account has terrible exchange rates/fee, you then also need an HSBC Global Money account. You can then transfer your USD from the currency account into the Global Money USD wallet and from there you convert it in GBP. You do not want for either Payoneer or HSBC currency to handle the conversion. Chase would also convert into GBP at whatever rate they want as they currently do not have a currency account nor a USD specific account. What chase is good at is allowing the current account holder to use their Chase Debit Card in Foreign Currency at MasterCard currency exchange rate without additional fees.

miller

Has anyone managed to pay a bus fare on Stagecoach with Chase? Their ticket machines seem to process card transactions offline (alternative cards work fine).

SarahLu

Marchitiello said:

SarahLu said:

Marchitiello said:

SarahLu said:

I am considering opening an account with chase. I see that they don't allow international payments. Currently, the company I work for pay me in USD via Payoneer and I then manually transfer it into my bank account. I'm assuming this would not be possible with chase? Payoneer do use the Global Payment Service, so perhaps if I moved/converted my balance from USD to GBP on Payoneer and then transferred it to Chase it might work, but I don't know if it would cost me any more (or less?) to do it that way. Does anyone have any experience with this or know if Chase would except a transfer from Payoneer? I've tried asking Chase but all they keep doing is replying with a link to their FAQ document.

All I can say is that they officially do not issue you with an IBAN and in theory you cannot receive international payments but I have extrapolated my IBAN (mentioned earlier in this thread)  and sent myself money from a EU based account I have. 

Having said that if you get paid in USD, you may be better off with one of the two routes we have mentioned in another thread recently:

Fineco UK multi currency account

HSBC (you needs to have a GBP account and open both a Currency Account and Global Money Account. You will use the Currency Account to receive USD, then internal Transfer to Global Money  USD pot, and within Global Money convert at very good rates) 

Thank you for your reply. I am currently with HSBC. When I make the transfer into them from Payoneer, it is converted to GBP first. I believe all I needed to set my account up on Payoneer was the sort code and account number, I don't think I needed an IBAN, but its a while since I set it up. If it were only a sort code and account number needed do you think it would work with Chase?

I am not familiar at all about Payoneer, but you would need to open a separate Currency Account within HSBC in USD. You would use this only to receive USD (if payoneer allowed to set up a payee with an IBAN or even if your employer could pay you directly there. However as the HSBC Currency Account has terrible exchange rates/fee, you then also need an HSBC Global Money account. You can then transfer your USD from the currency account into the Global Money USD wallet and from there you convert it in GBP. You do not want for either Payoneer or HSBC currency to handle the conversion. Chase would also convert into GBP at whatever rate they want as they currently do not have a currency account nor a USD specific account. What chase is good at is allowing the current account holder to use their Chase Debit Card in Foreign Currency at MasterCard currency exchange rate without additional fees.

As I said, I'm already with HSBC. I don't have any separate global account, I just transfer the money into my usual current account. I believe the conversion is done on Payoneers end and transferred to my HSBC account in GBP. I am looking to leave this account and move to Chase but until I know if its possible I don't really want to open the account. When they say international payments are not accepted is that relating purely to the currency, because if so maybe it would be ok if the conversion is done first on Payoneers end.

Nebulous2

miller said:

Has anyone managed to pay a bus fare on Stagecoach with Chase? Their ticket machines seem to process card transactions offline (alternative cards work fine).

My wife has paid a few bus fares with Chase. It comes through as 10p a time, which she thought was a bonus, but then it resolves itself and you get charged the full price later. The 10p must be to ensure the card is valid. 

miller

Nebulous2 said:

miller said:

Has anyone managed to pay a bus fare on Stagecoach with Chase? Their ticket machines seem to process card transactions offline (alternative cards work fine).

My wife has paid a few bus fares with Chase. It comes through as 10p a time, which she thought was a bonus, but then it resolves itself and you get charged the full price later. The 10p must be to ensure the card is valid. 

I've seen that with my Chase card (which works) on other bus companies (it can leave a non-whole pound balance in the current account as 90p gets sent from the current account to the roundup account, then the actual fare is resolved).

dcs34

miller said:

Nebulous2 said:

miller said:

Has anyone managed to pay a bus fare on Stagecoach with Chase? Their ticket machines seem to process card transactions offline (alternative cards work fine).

My wife has paid a few bus fares with Chase. It comes through as 10p a time, which she thought was a bonus, but then it resolves itself and you get charged the full price later. The 10p must be to ensure the card is valid. 

I've seen that with my Chase card (which works) on other bus companies (it can leave a non-whole pound balance in the current account as 90p gets sent from the current account to the roundup account, then the actual fare is resolved).

I get the same with Chase and other banks using TFL contactless. I assume it's due to daily caps or special ticketing rules (like the TFL bus fare hopper), so they've set their ticket machines to initially hold the 10p only for each tap-in, then work out the correct amount when the system resets overnight.

Whereas NatWest only calculate the round-up once the transaction has cleared, Chase seem to apply it as soon as the transaction is requested.