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

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  • km1500 said:
    i don't think anything car related is eg servicing insurance mot. Maybe car hire is ok
    Got it on car hire.

    The £15 maximum is a bit of a bummer, I usually earn more than that.
  • Herbalus
    Herbalus Posts: 2,634 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    km1500 said:
    Yes that seems to cover it. I suspect the £500 in March requirement may trip some people up (you heard it here first)
    I don’t see that being an huge issue. A main pull of chase is the debit card spending because of cash back, so people will already be transferring funds in for that. I already transfer £500 per month into chase, park it in the savings account, and then move to current account at the checkout. I’d have thought that’d be quite common. 
  • Herbalus said:
    km1500 said:
    Yes that seems to cover it. I suspect the £500 in March requirement may trip some people up (you heard it here first)
    I don’t see that being an huge issue. A main pull of chase is the debit card spending because of cash back, so people will already be transferring funds in for that. I already transfer £500 per month into chase, park it in the savings account, and then move to current account at the checkout. I’d have thought that’d be quite common. 
    I agree, with a 3% savings rate which is good, I just move cash into savings and transfer as and when I need it. The 1% on the current account to me is of no use as I never have more than £100 in it, why would you?
    I choose the rooms that I live in with care,
    The windows are small and the walls almost bare,
    There's only one bed and there's only one prayer;
    I listen all night for your step on the stair.
  • 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.
    Absolutely right, cashback applied today from service/MOT at local "proper" garage.
  • pittcity
    pittcity Posts: 110 Forumite
    Part of the Furniture 10 Posts Photogenic Combo Breaker
    edited 17 February 2023 at 12:02PM
    I put a monthly deposit into the Savings account and transfer it as I need it like many others. 
    I have just changed the Standing Order to pay into the current account instead. 
    I don't see that the money has to stay there for any length of time so I'll manually transfer it to the savings and qualify for the cashback, hopefully. 
    Bit of a palaver but every penny counts!

    I'd use Chase for all my banking if they did joint accounts.
    "Doing nothing is very difficult..........you never know when you're finished!"
  • km1500
    km1500 Posts: 2,790 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Herbalus said:
    Ikm1500 said:
    Yes that seems to cover it. I suspect the £500 in March requirement may trip some people up (you heard it here first)
    I don’t see that being an huge issue. A main pull of chase is the debit card spending because of cash back, so people will already be transferring funds in for that. I already transfer £500 per month into chase, park it in the savings account, and then move to current account at the checkout. I’d have thought that’d be quite common. 
    I would think.it is quite common to xfer from savings account to current account to cover the debit card spending - that would not, of course, count
  • BedrockFred
    BedrockFred Posts: 254 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    edited 17 February 2023 at 12:48PM
    So am I right in thinking I can pay £500 into my current account from another bank and then move it out to whatever account I choose ie Nationwide Chase Savings etc and that would qualify me for the cash back?
  • I've had the email about the current account interest, but not heard anything either by email or in the app, about the cashback continuing and the monthly £500 paid in requirement. 

    Maybe it's only notified nearer the anniversary date. I think I'm about 70 days from that at the moment.
  • I've had the email about the current account interest, but not heard anything either by email or in the app, about the cashback continuing and the monthly £500 paid in requirement. 

    Maybe it's only notified nearer the anniversary date. I think I'm about 70 days from that at the moment.
    I have over 70 days left on my original cash back, maybe emails are being sent out in batches 
  • Band7
    Band7 Posts: 2,285 Forumite
    1,000 Posts Name Dropper
    So am I right in thinking I can pay £500 into my current account from another bank and then move it out to whatever account I choose ie Nationwide Chase Savings etc and that would qualify me for the cash back?
    You can do this but you only get cashback for debit card purchases (unless on the Chase exclusion list). So you would need money in your Chase current account for that, either by keeping the £500 (for max £5 cashback) in there to start with, and/or by depositing an appropriate amount before you spend. 
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