Chase 1.5% Easy Access



  • I have kept my CHASE account for the 1% reward. £451.11 since March which is some going. I have around the world trip coming up, that will give me another £200 back. Free money I reckon. I guess I'll go back to the AMEX once my year is up. I've also managed to accrue £125 in the round-up feature now earning 5%.

    One word of warning, they don't accept CHAPS. I sold my car last Monday, the dealer sent the money to CHASE via CHAPS. They refused it and for a while I didn't know where it was until 48 hours later, I found CHASE had stuck it in a holding account. God knows why. After a few choice words they sent it back from whence it came. The dealer's bank (HSBC) is now stalling, they have it in a holding account themselves. Be a week on Monday and I still haven't got hold of what I consider a substantial amount of money. Fingers crossed for tomorrow.

  • Daliah
    Daliah Forumite Posts: 3,792
    1,000 Posts First Anniversary Photogenic Name Dropper
    FB13 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. 
    I understand the benefits of SOs/DDs in the Chase savings account but I get more than 1.5% cashback for my DDs. And whether I shift sufficient money for my DDs and SOs into a non-interest paying current account or into my Chase savings account makes no real difference for me, so I stick with what I did before Chase was a thing. In addition, the effort of shifting all my DDs and SOs to Chase savings doesn’t appear to be justified, plus I would have to change my ‘nominated account’ at quite a few savings providers. If I could reasonably rely on Chase interest rates moving with the market, I might reconsider but as it stands, it doesn’t look as if they will. YMMV. 
  • jak22
    jak22 Forumite Posts: 317
    100 Posts First Anniversary
    No-one signs up for saving accounts for features - it was for the 1.5% back in March which is now history. Every 0.3% difference is £10 a month lost on each £40000 and the gap with some accounts is twice that and growing each week. The only feature that matters is that its Easy Access.
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