Chase 1.5% Easy Access

where_are_we

littlemissmoney said:

A warning to others... check you are getting interest on this account! Somehow I managed to open another current account, rather than the saver account, and have been earning 0% since April! 

I hope your balance wasn`t too immense. Under the name of your savings account should be "1.5%". On the 1st of each month transactions will show the interest earned. I have nothing in their savings account, but I benefit from the 1% cashback on the debit card spends.

CheekyMikey

I keep a grand with them so I can use their card when abroad, fee free transactions and cash  withdrawals at a very good rate. Anadalusia in a week so will use that grand…

[Deleted User]

Daliah said:

B0bbyEwing said:

jimexbox said:
 Chase have fallen way behind. 

Depends what you want.

Simple interest rate vs interest rate - yes I'm in total agreement (obviously! Can't not be). I also appreciate this is what most(?) would want.

But they are still a great option for what I want which is why I sacrifice a few quid in interest to stay with them.

You can "stay with them" without - effectively - paying them for your custom by keeping your savings with them. They are perfectly good, and desirable, for their cashback, but that's really it, AFAIAC. I have moved my savings out of Chase on June 1 this year - a total of five months now that they have not been competitive for savings. 

Easy access to savings abroad (including zero surcharges at Chase USD ATMs) will be used again shortly. You can "stay with them" by using Bank of Mickey Mouse for savings risking blockages/ two day payment cycles. I would prefer a higher rate but as someone who looks at their savings/current as a combo - I'm satisfied.

masonic

Deleted_User said:

Daliah said:

B0bbyEwing said:

jimexbox said:
 Chase have fallen way behind. 

Depends what you want.

Simple interest rate vs interest rate - yes I'm in total agreement (obviously! Can't not be). I also appreciate this is what most(?) would want.

But they are still a great option for what I want which is why I sacrifice a few quid in interest to stay with them.

You can "stay with them" without - effectively - paying them for your custom by keeping your savings with them. They are perfectly good, and desirable, for their cashback, but that's really it, AFAIAC. I have moved my savings out of Chase on June 1 this year - a total of five months now that they have not been competitive for savings. 

Easy access to savings abroad (including zero surcharges at Chase USD ATMs) will be used again shortly. You can "stay with them" by using Bank of Mickey Mouse for savings risking blockages/ two day payment cycles. I would prefer a higher rate but as someone who looks at their savings/current as a combo - I'm satisfied.

I've found the payment blocking and frequent service issues at Chase to be rather off-putting, and enough to brand Chase more "bank of Mickey mouse" than other providers, with the possible exception of Virgin Money.

I would certainly want a backup cheap travel card for use abroad.

jimexbox

Deleted_User said:

Daliah said:

B0bbyEwing said:

jimexbox said:
 Chase have fallen way behind. 

Depends what you want.

Simple interest rate vs interest rate - yes I'm in total agreement (obviously! Can't not be). I also appreciate this is what most(?) would want.

But they are still a great option for what I want which is why I sacrifice a few quid in interest to stay with them.

You can "stay with them" without - effectively - paying them for your custom by keeping your savings with them. They are perfectly good, and desirable, for their cashback, but that's really it, AFAIAC. I have moved my savings out of Chase on June 1 this year - a total of five months now that they have not been competitive for savings. 

Easy access to savings abroad (including zero surcharges at Chase USD ATMs) will be used again shortly. You can "stay with them" by using Bank of Mickey Mouse for savings risking blockages/ two day payment cycles. I would prefer a higher rate but as someone who looks at their savings/current as a combo - I'm satisfied.

Chase is a great travel card, I transferred in funds as and when required on holiday. 1% cashback, brilliant. Apart from that I keep 5p in my account. 

B0bbyEwing

Daliah said:

You can "stay with them" without - effectively - paying them for your custom by keeping your savings with them. They are perfectly good, and desirable, for their cashback, but that's really it, AFAIAC. I have moved my savings out of Chase on June 1 this year - a total of five months now that they have not been competitive for savings.

It's their savings account & the way it works that ticks a box for me I'm afraid. 

And as I said, I can live with letting a few pennies go.

As let's be serious here - you may have enough for a little difference in percent to make significant differences such as thousands of pounds in interest, but I certainly don't. 

I haven't ran the numbers but I'm sure it's nothing huge and while it runs as it runs, it serves a purpose for me.

If it ever runs differently, ceases features, then I will certainly jump ship. 

Until then....

Daliah

I am constantly amazed by people who jumped into the Chase savings account because it paid 0.5% more than other savings accounts but now they stick with the Chase account even if they can get at least 0.85%, and up to 3.5%, more elsewhere for instant access savings. I'd not consider them money saving experts but who knows, may be they themselves do.

nottsphil

Daliah said:

I am constantly amazed by people who jumped into the Chase savings account because it paid 0.5% more than other savings accounts but now they stick with the Chase account even if they can get at least 0.85%, and up to 3.5%, more elsewhere for instant access savings. I'd not consider them money saving experts but who knows, may be they themselves do.

So where are these 3.5%+ instant access savings accounts, on sums similar to those on which Chase pay? 

Daliah

nottsphil said:

Daliah said:

I am constantly amazed by people who jumped into the Chase savings account because it paid 0.5% more than other savings accounts but now they stick with the Chase account even if they can get at least 0.85%, and up to 3.5%, more elsewhere for instant access savings. I'd not consider them money saving experts but who knows, may be they themselves do.

So where are these 3.5%+ instant access savings accounts, on sums similar to those on which Chase pay? 

The 3.5%+ are for the people with smaller sums of savings, as mentioned by an earlier poster:

As an example, the difference between the interest on £5,000 on 1.5% and 5% is £175 a year. 
There are several 5% accounts around, and it doesn’t take a lot of research to find them, particularly if you are a regular on this board.  

Those with larger sums still can easily find plenty of rates that are better than Chase - a little while ago there where 37 easy access accounts with better rates, and since then, more and more have appeared, or have increased their rates. Apart from Regular Saver accounts, I know of no savings accounts which don’t allow at least £85k, so the Chase limit is certainly not unique.

I do like the Chase SO and DD functionality, but not even that would draw me to what has been a third rate savings account since the beginning of June.

FB13

B0bbyEwing said:

Daliah said:

You can "stay with them" without - effectively - paying them for your custom by keeping your savings with them. They are perfectly good, and desirable, for their cashback, but that's really it, AFAIAC. I have moved my savings out of Chase on June 1 this year - a total of five months now that they have not been competitive for savings.

It's their savings account & the way it works that ticks a box for me I'm afraid. 

While I don't keep the vast bulk of my cash in Chase anymore, I do keep several hundred pounds in the savings account as I use the savings account effectively as a current account. Because of the speed and ease of moving money out of the Chase saving account (particularly to the Chase current account), I keep very little money in current accounts (my primary current account has less than £50 ATM) which earn no interest or interest less than 1.5%. While I could earn extra interest on part of the several hundreds, that would be offset by having more money in accounts which earn less or no interest and/or having more hassle moving money around. 

So I agree that the way the savings account works can still make sense for some people when the amount involved isn't that high.