Chase UK discussion

adamp87

Having had this a few weeks now I can’t see why I’d use it aside from the 1% cashback, but even then..

Have to remember it’s new and Rome wasn’t built in a day, but no incentive currently to make it my main account really at all.

Marchitiello

block10 said:

Deleted User said:

...Chase UK is already more valuable to me than Starling with both direct charge and surcharge free access to USD in the US. 

How does differ to Starling? I thought Starling was also 0% on foreign currency?

Having travelled at least once a year to NYC before COVID, I believe the main difference is that many USA banks still charge you a fee for using an ATM unless you are their own customer (like in Spain and Greece). This was one of the reason I opened a Santander Select account, albeit Chase branches are everywhere in NYC whilst Santander was a bit rarer. Now considering that this Chase card is also a MasterCard (like my new Santander  Select Debit Card to be fair), it makes ATM use in US quite attractive. For the record I also have Santander Zero (MC rates) and MBNA Horizon (Visa rates) for spending abroad, one EUROs current account, Fineco UK multi currency  plus Starling (use to be my to go but less attractive now that they charge fee for moving money across their own currency accounts), I still thought was worth it signing up for this, and will soon test it in straight comparison with Sterling in my Euro trip for half term. 

All my GBP spending (personal and work expenses) will still go on my BA Amex premium or HSBC World Elite as I also value Avios more then pennies cash-back. 

Marchitiello

Daliah said:

Got my code and managed to open an account, despite having a bit of a job with the ID verification as my passport photo is several years old and I look quite different now. 

A really nice feature is that you can choose the PIN for your card during the application, though subsequent PIN changes still require traipsing to an ATM.

The card can be add to Curve, provided you have a little cash in Chase for Curve to make a verification debit (automatically refunded later). Deposits to NS&I get rejected, whether through Curve, or with the card directly. Not sure why. Curve "Go Back In Time", to move payments to the Chase card, seems to work fine.

Faster Payments in and out working fine, though setting up a payee with a Reference is a bit cumbersome. Major, major showstopper for regular use for me is that a payee name cannot contain numbers. My tried and tested naming convention for payees relies on numbers in the payee name. There's no nickname for payees, either, so I would have to end up with countless payees called Daliah [+my surname], as that's the account name on all my accounts. No other bank or building society has ever insisted on no numbers in the payee name.

I'll probably use the Chase account for day-to-day spending for as long as their 1% cashback lasts. Any larger purchases (holidays etc) will still go on a credit card, for Section 75 protection.

I have quickly browsed through the pages so not 100% sure this has already been mentioned but Chase has a neat features that I do not think I have on any other bank and that would help address Daliah naming convention for her many accounts: after setting a payee with the first account, you simply open that payee and add more accounts. And as the accounts list actually mention then bank itself, pretty easy to recognise… I found this actually better than my other banks (unless I am missing something I have not seen this feature with Barclays, Lloyds, HSBC, RBS, Santander, Nationwide and Starling). I circle my salary and other earning monthly through all my accounts as it helps all bank be aware of my real earning and keep the qualifying criteria for my accounts benefits, so making it easier to do those payments between my accounts is also a major factor for me. 

Daliah

Marchitiello said

I have quickly browsed through the pages so not 100% sure this has already been mentioned but Chase has a neat features that I do not think I have on any other bank and that would help address Daliah naming convention for her many accounts: after setting a payee with the first account, you simply open that payee and add more accounts. 

You are right, this is unique to Chase, and it might be good enough for some. Strangely, there is no confirmation of payee when you add a subsequent account, which some people do want to have when adding a new payee.

Marchitiello

Daliah said:

Marchitiello said

I have quickly browsed through the pages so not 100% sure this has already been mentioned but Chase has a neat features that I do not think I have on any other bank and that would help address Daliah naming convention for her many accounts: after setting a payee with the first account, you simply open that payee and add more accounts. 

You are right, this is unique to Chase, and it might be good enough for some. Strangely, there is no confirmation of payee when you add a subsequent account, which some people do want to have when adding a new payee.

Because you are not adding a new payee, you are simply adding another account to an existing payee, which you can see immediately listed. Maybe it could be suggested through “message chat” that a notification of “edited payee” is sent every time a new account is added to an existing payee.

not sure why you have been so negative about this product since the very first pages of this thread. They are entering a new market and have decided to do so by controlling the customer intake and staggered functionality releases, and somehow balancing that with offering some incentives (limited time cashback and interest on round up savings) for customers that will bear with them until they get there. Even the inclusion on the Direct Debit scheme is not so straight forward so no surprise for them not yet offering it. It may not be for everyone, as many products out there aren’t for everyone, but it does not justify the complete negativity of almost every comment you have made 

cx6

I like Chase. I like their super-quick customer support, the 1% cashback and the blank debit card.

DDs are not a problem - DDs should be on a totally different account with a totally different bank. This DD account should be used for nothing else other than paying your DDs

Daliah

Marchitiello said:

Daliah said:

Marchitiello said

I have quickly browsed through the pages so not 100% sure this has already been mentioned but Chase has a neat features that I do not think I have on any other bank and that would help address Daliah naming convention for her many accounts: after setting a payee with the first account, you simply open that payee and add more accounts. 

You are right, this is unique to Chase, and it might be good enough for some. Strangely, there is no confirmation of payee when you add a subsequent account, which some people do want to have when adding a new payee.

Because you are not adding a new payee, you are simply adding another account to an existing payee, which you can see immediately listed. Maybe it could be suggested through “message chat” that a notification of “edited payee” is sent every time a new account is added to an existing payee.

not sure why you have been so negative about this product since the very first pages of this thread. They are entering a new market and have decided to do so by controlling the customer intake and staggered functionality releases, and somehow balancing that with offering some incentives (limited time cashback and interest on round up savings) for customers that will bear with them until they get there. Even the inclusion on the Direct Debit scheme is not so straight forward so no surprise for them not yet offering it. It may not be for everyone, as many products out there aren’t for everyone, but it does not justify the complete negativity of almost every comment you have made 

I am not negative, just realistic. I do have a Chase account which I use extensively because of the cashback but I am not blind to the shortfalls of this account.

As to adding a new sort code and account number:

1. You set up Fred Bloggs as a new payee, with account 12345678 and sort code 12-34-56. COP confirms that this is a valid account
   
   
2. You then add account 23456789, sort code 23-45-67 to Fred Bloggs. No COP takes place, thus when using this account, you could send money to a non-existent account, or indeed to a scammer as it may not even be an account belonging to Fred Bloggs.

A gaping hole in the COP process, and the fact that Chase is new to the UK current account market is no excuse for it.

Marchitiello

Daliah said:

Marchitiello said:

Daliah said:

Marchitiello said

I have quickly browsed through the pages so not 100% sure this has already been mentioned but Chase has a neat features that I do not think I have on any other bank and that would help address Daliah naming convention for her many accounts: after setting a payee with the first account, you simply open that payee and add more accounts. 

You are right, this is unique to Chase, and it might be good enough for some. Strangely, there is no confirmation of payee when you add a subsequent account, which some people do want to have when adding a new payee.

Because you are not adding a new payee, you are simply adding another account to an existing payee, which you can see immediately listed. Maybe it could be suggested through “message chat” that a notification of “edited payee” is sent every time a new account is added to an existing payee.

not sure why you have been so negative about this product since the very first pages of this thread. They are entering a new market and have decided to do so by controlling the customer intake and staggered functionality releases, and somehow balancing that with offering some incentives (limited time cashback and interest on round up savings) for customers that will bear with them until they get there. Even the inclusion on the Direct Debit scheme is not so straight forward so no surprise for them not yet offering it. It may not be for everyone, as many products out there aren’t for everyone, but it does not justify the complete negativity of almost every comment you have made 

I am not negative, just realistic. I do have a Chase account which I use extensively because of the cashback but I am not blind to the shortfalls of this account.

As to adding a new sort code and account number:

1. You set up Fred Bloggs as a new payee, with account 12345678 and sort code 12-34-56. COP confirms that this is a valid account
   
   
2. You then add account 23456789, sort code 23-45-67 to Fred Bloggs. No COP takes place, thus when using this account, you could send money to a non-existent account, or indeed to a scammer as it may not even be an account belonging to Fred Bloggs.

A gaping hole in the COP process, and the fact that Chase is new to the UK current account market is no excuse for it.

COP only confirm the name of the account and as that field is pre-filled when you add an additional account to an existing payee this may be an underlining check, not convinced  that there is no COP simply because it may be just a different processing  and thus you do not get the same notification. 

As of being negative, I have read most of the posts in these thread and you have had an underlining negative tone since the earlier post, from Chase being “at fault” for not sending you immediately an invitation to every other functionality you get from Starling, Monzo or others.. again the account is being offered to limited amount of customers, which suggest an operational acceptance period, and has some unique features (which you are using), as we all read the statements that they will add functionality and service on the go, and many of us understand what a controlled launch is, there is no need to criticise every single angle of the account on offer. Once they get everything right and potentially equal or better Starling and Co accounts, it may well be the ideal account for some people and not for others, at which point they may stop those initial incentives (cashback and internet) and you may well opt to close the account. Personally I have found Starling customer support to be terrible on the few occasions I have had to contact them, and basically only use their account for forex ATM. Having a bank that offer alzo zero forex but also cashback on international spending, is actually very attractive to me (on top of the free US atm), and not bothered at all but the current missing functionality/service, as, many on this site, have many more accounts that do other things and more. 

Daliah

I can assure you that there is no COP when adding an account to an existing payee.

Final comment from me on your criticism about my commentary on the Chase account: there is an ignore function on this forum, so you can add me to your ignore list if you find my posts unbearable.

cx6

Nobody needs to ignore anybody for friendly banter !