Chase account.. is it a savings account or bank account

newbie8

I've read the blurb on Chase's website and I read it as they have available a savings and a bank account that both offer a debit card (purchases 1% cashback), round up account at 5% and 1.5% on balances in the account. 

Is it the same account? Or is it just 2 types of accounts offering the same rates and features? 

masonic

The "savings account" is essentially a current account without debit card. The main current account with round-ups and cashback does not pay any interest.

newbie8

So the savings account has debit card, 1.5% on balance, 5% round up and 1% cashback on purchases. 

Bank account has debit card, 5% round up and 1% cashback on purchases. 

Sounds like the savings account is a better deal? 

bargainbetty

You get a current account with a debit card and no interest rate. Every card purchase is rounded to the nearest pound and the pennies are moved into a 'round up' account. This pays interest at 5%. You can only add to it via rounding up purchases though 

You can also open a savings account at 1.5% - it's very easy to do. I have found Chase very easy to deal with. 

Daliah

newbie8 said:

So the savings account has debit card, 1.5% on balance, 5% round up and 1% cashback on purchases. 

Bank account has debit card, 5% round up and 1% cashback on purchases. 

Sounds like the savings account is a better deal? 

As per above, the savings does not have a debit card, and therefore no roundup or cashback on purchases.

The current account does have a debit card, which attracts cashback (with some exclusions) and roundup

Roundups and cashback get paid into separate accounts. The Roundup account has a 5% interest rate but it will be on minute amounts as the only money that can be deposited is from roundups. The Cashback account does not attract interest but you can manually transfer amounts from your cashback to your savings account if you wish.

newbie8

So, savings account has no card and 1.5% on balance.

Bank account has debit card, 5% round up and 1% cashback on purchases. 

To have the 1.5% on balance, 5% roundup and 1% cashback on purchases, you would need to open the bank account, round up account and savings account. 

Got it  

newbie8

If I linked my debit card onto my PayPal and made friends and family payments, do I get the 1% cashback and round up would kick in? 

Daliah

newbie8 said:

So, savings account has no card and 1.5% on balance.

Bank account has debit card, 5% round up and 1% cashback on purchases. 

To have the 1.5% on balance, 5% roundup and 1% cashback on purchases, you would need to open the bank account, round up account and savings account. 

Got it  

You haven't quite got it but you're getting there.

You have to open the current account, whether you plan to use it or not. There's no hard search, so it's easy to get - provided you have a device that runs the Chase UK app, and a Government issued photo ID.

If you activate the Roundup feature, Chase automatically create a Roundup account for you.

They also automatically create a cashback account for you.

Once you have the initial current account, you can then instantly open additional accounts in the app - another 9 current accounts, and 10 savings accounts.

newbie8 said:

If I linked my debit card onto my PayPal and made friends and family payments, do I get the 1% cashback and round up would kick in? 

I don't use Paypal myself but I doubt you will get Chase cashback for deposits into Paypal, or into any other accounts. You will get roundups for such transactions.

London_1

My Chase account has frozen and I cannot access it for some reason I just clicked on to see the statement and it wouldn't take my password then said send photo plus passort details to be checked and reviewed and it would take 15 minutes that was over half an hour ago and I still cannot access my account the app appears to not be working very well. Anyone else have this problem at the moment ?
 

MX5huggy

Yes there’s issues, I can’t log on 
Chase know about it 

https://chaseuk.statuspage.io/

jaypers

London_1 said:

My Chase account has frozen and I cannot access it for some reason I just clicked on to see the statement and it wouldn't take my password then said send photo plus passort details to be checked and reviewed and it would take 15 minutes that was over half an hour ago and I still cannot access my account the app appears to not be working very well. Anyone else have this problem at the moment ?
 

Yes, asking for a passcode and then getting an unauthorised error. Suspect they have issues.