Moving from Shawbrook to Chase

dllive

Hi

Im currently getting 0.8% interest on a sizeable sum at Shawbrook. Im thinking about opening a Chase account (which pays 1.5% interest) and moving everything from Shawbrook.

Im also thinking about using the Chase debit card as my main debit card as it gives 1% cashback on purchases.

Does anyone her use Chase? Any bad experiences?

Thanks

400ixl

Several threads already on the topic of the Chase UK account. Large one at https://forums.moneysavingexpert.com/discussion/6295399/chase-uk-discussion

VKE

dllive said:

Hi

Im currently getting 0.8% interest on a sizeable sum at Shawbrook. Im thinking about opening a Chase account (which pays 1.5% interest) and moving everything from Shawbrook.

Im also thinking about using the Chase debit card as my main debit card as it gives 1% cashback on purchases.

Does anyone her use Chase? Any bad experiences?

Thanks

Like you we both have Shawbrook accounts which we've  both given notice on and we both have Chase accounts which so far we've nothing to complain about.
We've both put £85k in Chase Save accounts and we are now doing our daily spend from the Chase Current account to benefit from the 1% cashback and the round-up account an the pair of us are happy with Chase; that said I keep a daily check on any positive movement from banks/building societies ~ happy to move £ accordingly and open new accounts as an when something better comes along; just make sure my financial cash tracker is kept up-to-date 

dllive

Great - good to know Im not the only one @VKE

Bigwheels1111

As above, joined Chase, stuck 85k in savings account and added round up account.
Plus pay for everything on debit card.
I want a good fixed rate for 2 years, but they keep rising every day and I don’t want to fix until the end of may or June after next BOE Base rate rise.
2.42% for 2 year’s  came out today, not far from the 3% I would like.
5% would mean I could retire early and live of interest until pension and not use my capital.

dllive

@Bigwheels1111 - thanks - good tips there.

It feels like we're (savers) going into a phase of changing bank accounts every 6 months as new - higher IR - accounts come to market. Its about time, Ive been waiting for this since 2009!

dllive

When I initially setup the app, I 'added' a new account thinking I was adding a Savings account. After I added this 'savings' account I saw the option to add an actual Savings account. (this option was not there before - perhaps because I installed the app, registered for the app etc within 5 minutes). 

How do I remove my pseudo 'savings' account? Ive hidden it, but see no option to remove it. This is annoying becuase when I transfer money from my Chase account to my Chase Savings account it displays this pseudo-Savings account by default. Ill have another stab at removing it later, failing that Ill contact support.

I should receive my Chase card next week. Do I literally just use it like my current debit card? IE: swipe it in shops; enter the card details for online shopping etc?

Bigwheels1111

dllive said:

@Bigwheels1111 - thanks - good tips there.

It feels like we're (savers) going into a phase of changing bank accounts every 6 months as new - higher IR - accounts come to market. Its about time, Ive been waiting for this since 2009!

6 month’s, It’s been 6 days for me, Ford money had best rate 0.73 I think it was, so jumped on that.
Then Tandem 0.8%, then Atom, then Chase.
As soon as Chase is beaten I will be off, but will keep the account for a year for 1% cash back.
It looks like I will get £10 a month on bills etc.

Bigwheels1111

dllive said:

When I initially setup the app, I 'added' a new account thinking I was adding a Savings account. After I added this 'savings' account I saw the option to add an actual Savings account. (this option was not there before - perhaps because I installed the app, registered for the app etc within 5 minutes). 

How do I remove my pseudo 'savings' account? Ive hidden it, but see no option to remove it. This is annoying becuase when I transfer money from my Chase account to my Chase Savings account it displays this pseudo-Savings account by default. Ill have another stab at removing it later, failing that Ill contact support.

I should receive my Chase card next week. Do I literally just use it like my current debit card? IE: swipe it in shops; enter the card details for online shopping etc?

From the main page select the pseudo account, once in the account select the 3 dots top right, option to close is there.
The card is great, I opened the account on my phone and it added it to Google pay for me, to add to Amazon, PayPal etc click on card picture and select see card details.
As for using the card out and about, I don’t that’s what Google pay, Apple Pay and Samsung pay are for.
I do not carry a wallet, except on special purchases. All my payment methods are on Google pay.
17.5k is the largest Google payment so far with no issues.

VKE

dllive said:

@Bigwheels1111 - thanks - good tips there.

It feels like we're (savers) going into a phase of changing bank accounts every 6 months as new - higher IR - accounts come to market. Its about time, Ive been waiting for this since 2009!

Don't know about every 6 months; recently I've opened new accounts and moved quite a few and will continue to do so as long as % rates keep increasing 

dllive

Bigwheels1111 said:

dllive said:

When I initially setup the app, I 'added' a new account thinking I was adding a Savings account. After I added this 'savings' account I saw the option to add an actual Savings account. (this option was not there before - perhaps because I installed the app, registered for the app etc within 5 minutes). 

How do I remove my pseudo 'savings' account? Ive hidden it, but see no option to remove it. This is annoying becuase when I transfer money from my Chase account to my Chase Savings account it displays this pseudo-Savings account by default. Ill have another stab at removing it later, failing that Ill contact support.

I should receive my Chase card next week. Do I literally just use it like my current debit card? IE: swipe it in shops; enter the card details for online shopping etc?

From the main page select the pseudo account, once in the account select the 3 dots top right, option to close is there.
The card is great, I opened the account on my phone and it added it to Google pay for me, to add to Amazon, PayPal etc click on card picture and select see card details.
As for using the card out and about, I don’t that’s what Google pay, Apple Pay and Samsung pay are for.
I do not carry a wallet, except on special purchases. All my payment methods are on Google pay.
17.5k is the largest Google payment so far with no issues.

Ah! Easy when you know! Thanks, Ive now closed that. (I didnt even notice those 3 dots before!)

I keep my debit card in my phone case. My phone case has a few slits for cards/notes etc... So I plan to have my Chase card in my phone case and make sure to use that instead of my debit card.

I have an iPhone. Perhaps I should look into the benefits of Apple Pay. Im not a luddite, but I do tend to be a late adopter of new technologies/methodologies. (its hard to teach an old dog new tricks!). I will look into this further, but I presume Apple Pay is an app that you can add 1 or more cards to, and you just wave that in front of the till scanner rather than the hassle of digging out a card?