Chase 1.5% Easy Access

Olinda99

CheekyMikey said:

where_are_we said:

For those with large cash savings, remember that with increasing interest rates you may go over your personal savings allowance of £1000 interest for basic rate tax payers and £500 for higher rate tax payers for this tax year. Even with no other savings accounts, holding £85K in your Chace Savings account will mean you have to pay back 20% of the interest on £85000 - £66667 = £18333. The £18333 part will in effect earn 1.2%. To avoid this your spouse could open their own Chace Savings account and spread your savings.

On this issue of my spouse opening up an account, am I right in assuming she will need to do this via a separate device to the iPad I’ve used to set mine up as I can see no option to set up another individual’s account within the app. So if her phone isn’t compatible with the app, and I don’t think it will be, we can’t do it without getting another device which can download the app and set it up in her name?

For those who have Samsung phones eg Galaxy S21 you can load one Chase app normally and a second copy in the secure folder.

valiant24

I signed up fairly easily but my wife has had about a dozen attempts and never managed to pass the ID->Selfie "validation".   So she's given up.   We're not that desperate for the extra 0.25% ;-).

CheekyMikey

My wife failed the selfie check too the first time…she used her driving licence photo taken 4 years ago when her hairstyle was a bit different. Then she used her passport photo taken 2 years ago when her hair was longer and more like now although still a bit different and she passed. I breezed through the check as I’m still the same ugly b*gger I was 5 years ago when I got my new passport..

Rollinghome

valiant24 said:

I signed up fairly easily but my wife has had about a dozen attempts and never managed to pass the ID->Selfie "validation".   So she's given up.   We're not that desperate for the extra 0.25% ;-).

If it helps, I had the same problem of the never ending circle: 'sorry, not quite right, please start again'.   I eventually tried reinstalling the app, and it was fine first time.

Sarah1Mitty2

masonic said:

Sarah1Mitty2 said:

razord said:

refluxer said:

Does anyone know how 'enabling location services' helps in the chase app makes your account more secure ? 

It flags to them your current location. So if your card is suddenly used in Italy and your phone is in the UK, they could probably suspect something might not be right...

Could be annoying though if you had a different phone on holiday?

If your device is not sending location data, it is unlikely they'd act on this signal when authorising transactions. However, they use in-app push notifications to confirm that it's you (and that they are really Chase) if you phone them. It would therefore be a good idea, if possible, to have your device with you if you are relying on your Chase account while abroad.

Ok, makes sense.

staggered

Although I've got android version 10 on my phone (> version 8 required) when I go to Google Play to download the app I'm told that it's "not compatible with my device".  I got the same message when I tried using BlueStacks on my PC.  I don't fancy spending loads of money on a new phone, only to find that's not compatible either.  Are there any suggestions or do I have to write this off?  Shame as I've got plenty of savings cash and the extra few .1%'s would have made a difference.

masonic

staggered said:

Although I've got android version 10 on my phone (> version 8 required) when I go to Google Play to download the app I'm told that it's "not compatible with my device".  I got the same message when I tried using BlueStacks on my PC.  I don't fancy spending loads of money on a new phone, only to find that's not compatible either.  Are there any suggestions or do I have to write this off?  Shame as I've got plenty of savings cash and the extra few .1%'s would have made a difference.

The phone needs to be running 64-bit Android to be compatible. There is a separate thread outlining phones that others have found to be compatible or not compatible. There are some low cost devices that could be purchased, but how much would that eat into potential returns. If there is just one more base rate rise in the coming months, other easy access savings accounts could close the gap.

Of more concern should be inflation, which is several-fold higher than the best savings rate. This is not a time to be holding on to more cash than is necessary for your short term spending needs.

CheekyMikey

masonic said:

staggered said:

Although I've got android version 10 on my phone (> version 8 required) when I go to Google Play to download the app I'm told that it's "not compatible with my device".  I got the same message when I tried using BlueStacks on my PC.  I don't fancy spending loads of money on a new phone, only to find that's not compatible either.  Are there any suggestions or do I have to write this off?  Shame as I've got plenty of savings cash and the extra few .1%'s would have made a difference.

The phone needs to be running 64-bit Android to be compatible. There is a separate thread outlining phones that others have found to be compatible or not compatible. There are some low cost devices that could be purchased, but how much would that eat into potential returns. If there is just one more base rate rise in the coming months, other easy access savings accounts could close the gap.

Of more concern should be inflation, which is several-fold higher than the best savings rate. This is not a time to be holding on to more cash than is necessary for your short term spending needs.

Short term for me means 2-3 years…so if someone say has a pot of 100k and is planning to use that as a deposit for a house in a few years, or is augmenting a pension income with 30k a year for three years, where would you suggest they put that money to ensure they have it when they might need it? What investments will match or nearly match inflation without having to take a fairly large risk that the capital could be reduced by more than any inflationary loss?

masonic

CheekyMikey said:

masonic said:

staggered said:

Although I've got android version 10 on my phone (> version 8 required) when I go to Google Play to download the app I'm told that it's "not compatible with my device".  I got the same message when I tried using BlueStacks on my PC.  I don't fancy spending loads of money on a new phone, only to find that's not compatible either.  Are there any suggestions or do I have to write this off?  Shame as I've got plenty of savings cash and the extra few .1%'s would have made a difference.

The phone needs to be running 64-bit Android to be compatible. There is a separate thread outlining phones that others have found to be compatible or not compatible. There are some low cost devices that could be purchased, but how much would that eat into potential returns. If there is just one more base rate rise in the coming months, other easy access savings accounts could close the gap.

Of more concern should be inflation, which is several-fold higher than the best savings rate. This is not a time to be holding on to more cash than is necessary for your short term spending needs.

Short term for me means 2-3 years…so if someone say has a pot of 100k and is planning to use that as a deposit for a house in a few years, or is augmenting a pension income with 30k a year for three years, where would you suggest they put that money to ensure they have it when they might need it? What investments will match or nearly match inflation without having to take a fairly large risk that the capital could be reduced by more than any inflationary loss?

Someone with a pot of £100k that they are planning to use for a house purchase would be best to accelerate their purchasing plans - house price inflation is greater than savings rates most of the time. £100k should be ample for a house deposit, unless they are very wealthy and so need not be concerned with taking an inflation hit. Naturally, ahead of there being a possibility they will buy within 3 years (under your definition), then they should hold that money in cash. They therefore cannot commit to medium or long term investing which come with minimum recommended holding periods of 5+ and 10+ years respectively (hence my definition of short term extends as far as 5 years in the context of choosing investments).

Augmenting a pension income for 3 years, falls under your definition of short-term spending.

RG2015

CheekyMikey said:

masonic said:

staggered said:

Although I've got android version 10 on my phone (> version 8 required) when I go to Google Play to download the app I'm told that it's "not compatible with my device".  I got the same message when I tried using BlueStacks on my PC.  I don't fancy spending loads of money on a new phone, only to find that's not compatible either.  Are there any suggestions or do I have to write this off?  Shame as I've got plenty of savings cash and the extra few .1%'s would have made a difference.

The phone needs to be running 64-bit Android to be compatible. There is a separate thread outlining phones that others have found to be compatible or not compatible. There are some low cost devices that could be purchased, but how much would that eat into potential returns. If there is just one more base rate rise in the coming months, other easy access savings accounts could close the gap.

Of more concern should be inflation, which is several-fold higher than the best savings rate. This is not a time to be holding on to more cash than is necessary for your short term spending needs.

Short term for me means 2-3 years…so if someone say has a pot of 100k and is planning to use that as a deposit for a house in a few years, or is augmenting a pension income with 30k a year for three years, where would you suggest they put that money to ensure they have it when they might need it? What investments will match or nearly match inflation without having to take a fairly large risk that the capital could be reduced by more than any inflationary loss?

Good question.

With inflation even at a conservative average of 5%, £100k in cash would lose value by more than £15,000 over 3 years.

This is scary, but there are a lot of people looking for an answer to your question.