Cheese Bank?

Daliah

Chris_English said:

Ebe_Scrooge said:

penners324 said:

cymruchris said:

You might be a lump of cheddar short of a picnic

(Yes it's chase bank - and to me - they're not up to much even though everyone seems to be raving about them)

Too new, though Direct Debits coming in March.

To be pedantic, Chase itself isn't new, it's been a major player in the US for donkey's years.  But it's only very recently that it decided to start operating in the UK.

Founded September 1st 1799. First operated in London in 1854.

So it took them 167 years to launch a current account, without DD capability, in the UK?

Chris_English

Daliah said:

Chris_English said:

Ebe_Scrooge said:

penners324 said:

cymruchris said:

You might be a lump of cheddar short of a picnic

(Yes it's chase bank - and to me - they're not up to much even though everyone seems to be raving about them)

Too new, though Direct Debits coming in March.

To be pedantic, Chase itself isn't new, it's been a major player in the US for donkey's years.  But it's only very recently that it decided to start operating in the UK.

Founded September 1st 1799. First operated in London in 1854.

So it took them 167 years to launch a current account, without DD capability, in the UK?

No idea. I’ve been doing business with them regularly since 1996.

Daliah

Chris_English said:

Daliah said:

Chris_English said:

Ebe_Scrooge said:

penners324 said:

cymruchris said:

You might be a lump of cheddar short of a picnic

(Yes it's chase bank - and to me - they're not up to much even though everyone seems to be raving about them)

Too new, though Direct Debits coming in March.

To be pedantic, Chase itself isn't new, it's been a major player in the US for donkey's years.  But it's only very recently that it decided to start operating in the UK.

Founded September 1st 1799. First operated in London in 1854.

So it took them 167 years to launch a current account, without DD capability, in the UK?

No idea. I’ve been doing business with them regularly since 1996.

In a current account?

Chris_English

Daliah said:

Chris_English said:

Daliah said:

Chris_English said:

Ebe_Scrooge said:

penners324 said:

cymruchris said:

You might be a lump of cheddar short of a picnic

(Yes it's chase bank - and to me - they're not up to much even though everyone seems to be raving about them)

Too new, though Direct Debits coming in March.

To be pedantic, Chase itself isn't new, it's been a major player in the US for donkey's years.  But it's only very recently that it decided to start operating in the UK.

Founded September 1st 1799. First operated in London in 1854.

So it took them 167 years to launch a current account, without DD capability, in the UK?

No idea. I’ve been doing business with them regularly since 1996.

In a current account?

I don’t follow, what would you mean by doing business with someone “in a current account”?

Marchitiello

Daliah said:

Chris_English said:

Ebe_Scrooge said:

penners324 said:

cymruchris said:

You might be a lump of cheddar short of a picnic

(Yes it's chase bank - and to me - they're not up to much even though everyone seems to be raving about them)

Too new, though Direct Debits coming in March.

To be pedantic, Chase itself isn't new, it's been a major player in the US for donkey's years.  But it's only very recently that it decided to start operating in the UK.

Founded September 1st 1799. First operated in London in 1854.

So it took them 167 years to launch a current account, without DD capability, in the UK?

JP Morgan has been running Private Banking account with DD and more in London for ever… ( JP Morgan was the one that started operating in London in 1854, the chase side was the oldest operation overall).. it took them longer to create a challenge bank (online/app based, smart features but no branches, etc) for the masses, launched as MVP for few months by invite and now expanding (radio advert, Nutmeg promotions, etc) with additional basic functionality. 

As a matter of fact, it is a great starting point not to have an established retail operation but have their resources to go after the Monzo and Starling of this world ..

Daliah

I keep hearing, from the same small number of people,  praise about Chase‘s tremendous experience and financial prowess, yet they couldn’t launch a current account with a feature that has been tried and tested for a couple of decades? It’s not as if there is much that can be innovated about DDs, not without BACS, other banks and organisations using DDs to collect payments, anyway. And then they give us a  debit card that doesn‘t accept gambling wins even though they allow us to make deposits with that card to gambling firms, and we can‘t use the card with one of the largest UK investment platforms……pffft 

There seems to be some sort of desperation to impress on people how long Chase have been around - even their radio ad dwells on how many years they have been in the US. It’s a bit like that Alpecin Shampoo ad, boasting it’s Germany’s number 1 shampoo - - every time I hear it, I think: so what?

[Deleted User]

I must admit prior to launch as had visions or something very different.

Chris_English

Daliah said:

There seems to be some sort of desperation to impress on people how long Chase have been around - even their radio ad dwells on how many years they have been in the US. It’s a bit like that Alpecin Shampoo ad, boasting it’s Germany’s number 1 shampoo - - every time I hear it, I think: so what?

Desperation? You’re stretching things a bit there. Someone implied they were a new bank, amd so a couple of people corrected this.

If they aren’t for you there are plenty of other banks.

Marchitiello

A particular user has been negative from day one but use them for the cashback..

Unfortunately not everyone is familiar with MVP launches and the complexity of fitting within the existing banking industry structure.. All the challengers Bank have launched with limited functionality.. JP Morgan Chase have decided to enter this market in that way. If one fail to understand that they decide it purposely to do it that way, and have the resources behind to simply dwarf all the other challengers Bank in the UK, bad on them… Goldman Sachs have decided to enter the UK retail market with a Saving offer, which was supposed to be followed by other banking products, that so far have not materialised… anyway,  it is not only on their side that the works need to be done. You do controlled launches with MVP and already an idea of what needs to come next but at the same time try to iron out other issues that comes up in the controlled launch. So far what they are offering, they do it well, have some unique features (cashback, Free ATM in USA, etc) and have responded openly about what is coming next (including hinting at some sort of saving & investment offer from sister company Nutmeg).

Daliah

See what I mean