Chase Bank 1.5% easy access account or not ??

hangryconsumer

The Chase question seems to be have been answered, £25k limit on faster payments unless you ring them up to release a larger sum?

Re: solicitors though - they may refuse to accept faster payments as being delivered on the day you send them. They will only count from the day after, in which case you might want to send your faster payments to the solicitor earlier than required in order to avoid a CHAPS fee and/or delay to your purchase. Some solicitors may even insist on CHAPS.

masonic

hangryconsumer said:

The Chase question seems to be have been answered, £25k limit on faster payments unless you ring them up to release a larger sum?

I don't think you can phone them to release a larger sum.

Daliah

trickydicky14 said:

I ended up ringing Chase, that took 40 mins to get through. After a long-drawn-out conversation and ID checks it got sorted.

Don’t think I can put up with that too often, I will keep the account open for now to use the cash back facility but 90% of my money is going back to Virgin now the rate has gone over 1.5%.

 It’s a pity as I like the account and happy to use the app. But then again, my phone is a few years old so how long will it be before I have a melt down and need a new phone to run the app? Happy days.

Very much where I am with Chase now, although I don’t worry about having a device which runs their app. My savings have already gone back to Virgin, and my Chase cashback lasts for another 3 and a bit months. Unless they come up with something irrestible, I won’t then have any further use for Chase.

Daliah

hangryconsumer said:

The Chase question seems to be have been answered, £25k limit on faster payments unless you ring them up to release a larger sum?

Re: solicitors though - they may refuse to accept faster payments as being delivered on the day you send them. They will only count from the day after, in which case you might want to send your faster payments to the solicitor earlier than required in order to avoid a CHAPS fee and/or delay to your purchase. Some solicitors may even insist on CHAPS.

I doubt any solicitor would insist on CHAPS - all they need is the money on an agreed date in their account. They would recommend people use CHAPS because it’s the sensible way of transferring large sums on a single day. Except with Chase, as they don’t offer CHAPS, and they also don’t let you use more than £25k of your own money on the sane day.

kaMelo

trickydicky14 said:

I ended up ringing Chase, that took 40 mins to get through. After a long-drawn-out conversation and ID checks it got sorted.

Don’t think I can put up with that too often, I will keep the account open for now to use the cash back facility but 90% of my money is going back to Virgin now the rate has gone over 1.5%.

 It’s a pity as I like the account and happy to use the app. But then again, my phone is a few years old so how long will it be before I have a melt down and need a new phone to run the app? Happy days.

Currently in the same predicament, payment on hold subject to security checks. I don't know about 40 mins wait though I was quoted three hours.  Payment was made to myself, a payee I've used over a dozen times for more substantial sums than this. 
I'm not going to go through this rigmarole every time so likewise, the rest of it is on the way to Virgin, if Chase ever let me that is.

Updated:
Okay, so not three hours but one hour and ten minutes on hold. To be fair the call handler couldn't have been better, asked a couple of questions about why I was moving the money and would I be moving any more to this account. Unblocked the payment and apologised for the inconvenience but I'm still going to move the rest.
I'm on the 1.25% rate with AmEx until the end of September so not even using them for cashback so I'll just let it sit idle and see whether they come back into play with any increased offers.