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

Zopa_Trooper

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

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. 

trickydicky14

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?

flaneurs_lobster

simongregson said:

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

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.

km1500

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

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?

eastcorkram

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.

BedrockFred

eastcorkram said:

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

BedrockFred said:

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.