MSE News: Chase makes changes to its popular current account for new and existing customers

km1500

You have to pay the £500 into the account in eg April to get the cashback in eg May ie the previous month

dcs34

Just to make sure I've understood the change to cashback and interest, using my dates:

• The existing 1% cashback on current account debit card spending will stop on 1st April
• To retain 1% cashback on current account debit card spending for another year, you will need to have paid in £500 in the previous month. So for me to continue earning cashback in April I'd need to pay in £500 from 1st March (cashback also now capped to £15 per month)
• A new 1% interest on current account balance will be launched 1st April, details to follow

km1500

Yes that seems to cover it. I suspect the £500 in March requirement may trip some people up (you heard it here first)

Middle_of_the_Road

Band7 said:

Could a Mod please merge this thread with the existing Chase thread? 

Hopefully

Alex9384

Their list of non-qualifying transactions is quite long. I'm not impressed...

In January I paid for my car insurance with Chase card and didn't get any cashback on it.

flaneurs_lobster

Alex9384 said:

Their list of non-qualifying transactions is quite long. I'm not impressed...

In January I paid for my car insurance with Chase card and didn't get any cashback on it.

Just paid for the car service/MOT, don't think they're eligible either.

km1500

i don't think anything car related is eg servicing insurance mot. Maybe car hire is ok

simongregson

km1500 said:

i don't think anything car related is eg servicing insurance mot. Maybe car hire is ok

I have found car servicing/mot does get the cashback at standard garages that don't also sell new/used cars - the two I have tried have been successful.

baser999

Interestingly I had a email from Chase today saying I’d be paid 1% aer interest on my current account from April. No minimum monthly deposits required.

My 1% cashback deal has still got a few months to run, no news yet on whether that’ll be extended.

poppellerant

baser999 said:

Interestingly I had a email from Chase today saying I’d be paid 1% aer interest on my current account from April. No minimum monthly deposits required.

My 1% cashback deal has still got a few months to run, no news yet on whether that’ll be extended.

I also got that email this evening:

Current account interest will arrive in April 2023.

It means you'll earn 1% AER interest on the money you have in your Chase current account. We'll calculate your interest daily – based on your current account balance – and we'll pay it at the beginning of the following month.

There'll be no fees from us or minimum monthly deposits to worry about, and you can pay in as much money as you like.

Plus, if you have more than one current account with us, we're happy to let you know that each will earn interest.

We hope you enjoy.

All the best,

The Chase team