Will chase pass on the interest rate rise?

musicdave

I contacted chase to see if they were going to pass on the interest rate rise and they replied saying that their interest rate is not tied to the bank of Englands base rate.

Will they raise their rate to keep competitive? 

Olinda99

pass on or pass on ?

Pompeydave1967

I really hope so as I find app and ease of moving money around excellent.Also 1% cash back and roundup.

jimexbox

Just do what lots have already done, jump ship. Never be loyal with money.

Keep Chase for cashback and foreign travel. If they become competitive, you can always deposit your money back. 

Rollinghome

They got the attention and customers they wanted with a shrewdly timed headline-grabbing rate just as rates were about to rise anyway. Job done.

I've no expectation of them wanting to be rate-leaders unless they need to be.  So maybe the time to keep what you need in Chase and move the rest to where you get the best return.  Likely to seem like whack-a-mole for a while yet.

coyrls

I think it would be pragmatic to wait for a couple of weeks for things to settle down before making a decision.

jimjames

I suspect they will pass

inflationbuster

Given how many people opened a saving account for that juicy 1.5% rate l doubt they will be increasing it by much soon.  Keep an eye out of Marcus they may do so to temp away Chase savers.

eastmidsaver

i hope so .  as people say,  1.5% at the time was market leading and you had to wait a couple weeks before you can open an account.    it is also super easy being able to move money instantly,  but other banks are now beating their rate.   i hope they increase it,   but if they don't then will consider moving.    although the 1% cash back is great.

prowla

If you're borrowing, yes.

If you're saving, no.

Daliah

coyrls said:

I think it would be pragmatic to wait for a couple of weeks for things to settle down before making a decision.

They have not had leading rates since the 1st of June this year. This was therefore the day I took all my money out of the Chase savings account. I'll be happy to put it back in as and if they offer a market leading rate again.