experiences of using chase UK

r6owned

I have been using this service for nearly a year now and want to pass on some feedback as to where it fails, vs a 'normal' uk banking account'

1) the app allowed me to use funds from 'round up' to pay off a credit card bill, credit card could not find the funds because the chase app, does not store the reference, also it took chase nearly 3 days to come up with the account number and sort code for the 'round up' account, info they suppled (FPS data) was unacceptable to credit card company.
2) if you want to used the debit card, then you need sufficient funds in the current account to cover the debit amount, or the card will be refused ay paypoint
3) used debit card in in france to buy diesel at an automatic intermarch, tried 3 times would not work, looked at app, intermache was demanding a limit of 200 euros's, I'd only put £100 in the current account (there was more in the savings account), once I put £180 in the current acc, then the card was accepted and I bought £65 worth of diesel
4) dispute with a french retailer as they overcharged me by £25, Chase did nothing to quicken the rebate process, despite me sending them the refund ticket

for my needs, as I want the main part of my savings to be earning interest, the maximum amount of time, and as there is no overdraft, or debit limit, theis account is useless... they are not offering a great intertest rate either on savings
   

eskbanker

Not convinced of the validity of those criticisms - surely point 2 is basically just paraphrasing 'no overdraft', 3 is much the same (and/or is a retailer issue) and 4 doesn't really sound like a Chase issue either, unless you have evidence that other banks would have dealt with that scenario better?

Easyjet77

Interest on current ac..tick
Reasonable savings interest..tick
1% cash back on spending..tick
Fee free abroad ..tick
5% round up feature ..tick
Ease of payments...tick
  All good for me!
Slowish app..cross
   Not unbearable and overall only slightly detracts from benefits.
Regards

TheBanker

No 'normal' bank account will let you spend money that's not in your account, unless you have an overdraft facility. Chase don't offer overdrafts, they are very clear about this. So 2 and 3 are not valid criticisms. They do send a push notification when they decline a transaction, and if you open the app you can see that there's not enough money. It takes seconds to move some money from a linked savings account if you have one. Remember most overdrafts charge 39% interest - I'd much rather have a declined transaction, thanks! 

4 would be exactly the same with any other bank. The option Chase have to help you is to raise a chargeback, but if the refund's already on its way you just have to wait, they can't speed it up. They operate to the same chargeback rules as any other Mastercard issuer, so your experience would have been no different if you banked elsewhere. 

pridehappy

I could imagine Chase being good for a second current account, although I’d always have another mainstream bank account as your primary one, for reasons you mentioned such as no overdraft and debit card issues.

Plus, always best to take multiple cards.

TheBanker

pridehappy said:

I could imagine Chase being good for a second current account, although I’d always have another mainstream bank account as your primary one, for reasons you mentioned such as no overdraft and debit card issues.

Plus, always best to take multiple cards.

I think in a few years they'll be mainstream. They're developing their services, e.g. recently joining the Current Account Switch Service, and continuing a modified version of the cashback offer for those who've been customers for >12 months. Plus they have the might of JP Morgan behind them. It wouldn't surprise me if over the next 12 months they start to offer overdrafts, credit cards, and possibly fixed term savings as well as easy access. 

ForumUser7

TheBanker said:

pridehappy said:

I could imagine Chase being good for a second current account, although I’d always have another mainstream bank account as your primary one, for reasons you mentioned such as no overdraft and debit card issues.

Plus, always best to take multiple cards.

I think in a few years they'll be mainstream. They're developing their services, e.g. recently joining the Current Account Switch Service, and continuing a modified version of the cashback offer for those who've been customers for >12 months. Plus they have the might of JP Morgan behind them. It wouldn't surprise me if over the next 12 months they start to offer overdrafts, credit cards, and possibly fixed term savings as well as easy access. 

I agree - Credit card already in the works! ~ https://twitter.com/wiredguytv/status/1666803501618577413

Rob5342

Not remembering the reference is the only valid criticism. Why are you trying to use an overdraft you know you don't have?

wiseonesomeofthetime

With every payment I have used through Chase, from launch, when I click Add, alongside reference, all previous references used are visible and can be clicked to populate the field 🤷‍♂️

Janxx

Easyjet77 said:

Interest on current ac..tick
Reasonable savings interest..tick
1% cash back on spending..tick
Fee free abroad ..tick
5% round up feature ..tick
Ease of payments...tick
  All good for me!
Slowish app..cross
   Not unbearable and overall only slightly detracts from benefits.
Regards

All of the above for me too. I initially was searching for free to spend abroad cards. I now use it for all my day to day spending. 

gsmh

Dubious ethical credentials..cross