Chase Bank

MaryMint

Hi.  I have just opened a new bank account and savings account with Chase as the savings interest rate seems to be much better than elsewhere however, I am loathe to transfer my savings to them as I don't know the bank.  Had it been Barclays or HSBC I wouldn't be worried.  Any advice please?  Thanks

ranciduk

Cash held in both Chase's current account and the linked savings account is protected by the Financial Services Compensation Scheme (FSCS) up to a total of £85,000.

steveksullivan

Chase is owned by J.P. Morgan - In the U.S. they provide (quote:) ' Banking services to 60 million households ....'

eskbanker

MaryMint said:

Hi.  I have just opened a new bank account and savings account with Chase as the savings interest rate seems to be much better than elsewhere however, I am loathe to transfer my savings to them as I don't know the bank.  Had it been Barclays or HSBC I wouldn't be worried.  Any advice please?  Thanks

Why would you open a savings account with them if you're loathe to actually use it?

MaryMint

That wasn't my question

northwalesd

MaryMint said:

Any advice please?

Move your savings to the Chase savings account and stop worrying.

TadleyBaggie

MaryMint said:

That wasn't my question

Strictly speaking, you didn't ask one..

400ixl

They are as secure from a financial point of view as any other global banking institution through being owned by J P Morgan and have their license to bank and FSCS protection.

On the current account side they have been in the UK since around September 2021 so not long, but in the USA they have been in business for decades.

Saying that, you have to be comfortable with where you are placing your money.

hangryconsumer

TadleyBaggie said:

Strictly speaking, you didn't ask one..

Yes, the OP asked "any advice?" John's contribution wasn't helpful. The basic approach was "pounce on the newbie and make them feel like a 4 letter word beginning with s" so that they then get defensive and reply with "that wasn't my question". Way too much nastiness. The OP just wanted reassurance that their money was safe. Definitely came to the wrong place for it.

fletcher1985

hangryconsumer said:

TadleyBaggie said:

Strictly speaking, you didn't ask one..

Yes, the OP asked "any advice?" John's contribution wasn't helpful. The basic approach was "pounce on the newbie and make them feel like a 4 letter word beginning with s" so that they then get defensive and reply with "that wasn't my question". Way too much nastiness. The OP just wanted reassurance that their money was safe. Definitely came to the wrong place for it.

its pretty sad really there are a lot of people like this on here. people asking for adivce and always perople trying to make them look stupid or to get a reaction and then tell them to calm down. this is why i hardly post on here because this happens. we are meant to be helping each other and giving there adivce.

penners324

Chase UK is a subsidiary of 1 of the largest banks in the world. Far larger than Barclays and HSBC