6 months in, I really can't recommend Chase, although I wish I could...

Diagram8732

Hi.

I thought I'd share some of my experiences with using Chase as my main bank account in the hope that it helps people in their decision-making when considering Chase.

The good:

• The app is great, straightforward to use and reliable
• The cashback is great and you do notice it
• I love the round-up feature, it is a great way to save without thinking about it
• The savings account provides a decent 4.1% for easy access savings

The bad:

• One card per person across all your accounts. I'll come onto that shortly
• No CHAPS - this is a big concern and caused a LOT of stress
• Payments just don't work sometimes and they can't work out why

The one card per person for all your accounts is a bit annoying. I provide myself with a weekly budget which I use for everyday spending, such as shopping, the pub etc. Because I can't have multiple cards, I can't put all my subscriptions such as Netflix, Prime etc on a card to come from my bills account. This can be annoying because it's an extra thing to consider. Ideally, I'd like fixed-cost items to come from my bills alongside direct debits.

No CHAPS. CHAPS is a clearing-house payment method. If you sold your house or received an inheritance, for example, chances are they come via CHAPS. I was in one of those circumstances recently where a large payment was made to me via CHAPS and it simply went missing for days until it bounced back. This alone really made me consider whether Chase was the right bank for me. I really don't want to have to keep old accounts open simply for these kinds of things. People move house, people die, it's a massive oversight on Chase's part to not accept CHAPS.

Now comes the debit card payments that simply don't work. Over the past few months, I've experienced issues paying for goods online. The payment has failed with generic error messages. These very same purchases went through without issue on a Natwest debit card. On the 4 occasions this has happened, the merchants have had no reported issues, and like I say, the Natwest card worked fine. Each time Chase simply don't know what's going on and can't explain it. On all occasions this has happened, the error is returned instantly, and then the notification to authorise the payment comes in the Chase app shortly after. Funds have always been available in the account too.

Anyway, I'd thought I'd share this. Unfortunately, I'm now on the hunt for a different provider because Chase are seemingly not mature enough in their platform for me to rely on them for my banking needs. I'd be interested to hear other people's experiences.

la531983

I have a bank account with a "bricks and mortar" account still, in the event I ever need to do a CHAPS I will use them. I keep that account open to pay cash into anyway - how do you pay cash into your Chase account? 
I also dont need a 2nd cardholder.

Your needs are clearly quite specific and not representative of the general population, hence why they arent targeting CHAPS payments and 2nd cardholders.

As for payments being rejected, cant say I have ever had an issue there other than reaching the contactless limit or putting details in wrong, which can happen with any bank.

wmb194

Diagram8732 said:

Hi.

I thought I'd share some of my experiences with using Chase as my main bank account in the hope that it helps people in their decision-making when considering Chase.

The good:

• The app is great, straightforward to use and reliable
• The cashback is great and you do notice it
• I love the round-up feature, it is a great way to save without thinking about it
• The savings account provides a decent 4.1% for easy access savings

The bad:

• One card per person across all your accounts. I'll come onto that shortly
• No CHAPS - this is a big concern and caused a LOT of stress
• Payments just don't work sometimes and they can't work out why

The one card per person for all your accounts is a bit annoying. I provide myself with a weekly budget which I use for everyday spending, such as shopping, the pub etc. Because I can't have multiple cards, I can't put all my subscriptions such as Netflix, Prime etc on a card to come from my bills account. This can be annoying because it's an extra thing to consider. Ideally, I'd like fixed-cost items to come from my bills alongside direct debits.

No CHAPS. CHAPS is a clearing-house payment method. If you sold your house or received an inheritance, for example, chances are they come via CHAPS. I was in one of those circumstances recently where a large payment was made to me via CHAPS and it simply went missing for days until it bounced back. This alone really made me consider whether Chase was the right bank for me. I really don't want to have to keep old accounts open simply for these kinds of things. People move house, people die, it's a massive oversight on Chase's part to not accept CHAPS.

Now comes the debit card payments that simply don't work. Over the past few months, I've experienced issues paying for goods online. The payment has failed with generic error messages. These very same purchases went through without issue on a Natwest debit card. On the 4 occasions this has happened, the merchants have had no reported issues, and like I say, the Natwest card worked fine. Each time Chase simply don't know what's going on and can't explain it. On all occasions this has happened, the error is returned instantly, and then the notification to authorise the payment comes in the Chase app shortly after. Funds have always been available in the account too.

Anyway, I'd thought I'd share this. Unfortunately, I'm now on the hunt for a different provider because Chase are seemingly not mature enough in their platform for me to rely on them for my banking needs. I'd be interested to hear other people's experiences.

I agree that it ought to accept them but for most people most of the time the lack of Chaps payments and deposits is a non-issue. Anyway, if you need that just keep a Barclays account as well as you will be able to receive them and it doesn't charge a fee to setup Chaps payments. Anyway, it's a good idea to have at least two current accounts with different banking groups.

I'm surprised to hear you've had issues with making debit card payments.

gsmh

Diagram8732 said:

Anyway, I'd thought I'd share this. Unfortunately, I'm now on the hunt for a different provider because Chase are seemingly not mature enough in their platform for me to rely on them for my banking needs. I'd be interested to hear other people's experiences.

Interesting. I had an account with Chase and felt the same way. To be honest I think if you want belt and braces an account with a major bank is in order. My main current account is with Drummonds at The Royal Bank of Scotland. There's pretty much nothing you can't do if you bank with the big guys - apart from frivolities like savings pots which in any case you can organise yourself using any decent budgeting app. I have a Halifax Clarity credit card for overseas spending and a second current account with Starling as a backup.

penners324

Starling can do everything on your wish list.

Including payments from pots.

Rawrzy

Was there any similarities in the payments that failed?

I'd noticed my Chase card sometimes failing on authorisation of £0.00 charges, you know when they're checking your card before actually charging. Besides that I've not had any issues over the past 3 or 4 months I think it's been since I started using them.

I admittedly don't use Chase as my main bank account. I send money to it from my main account and use it for any general purchases to take advantage of the 1% cashback. I think if you use it in that way it's pretty good.

pochisoldi

Had an account for around 18 months
I have always used my Chase account for spending.
Initially I did use it for virtually all card spend (except for things like pay at pump - to avoid authorisation issues) some easy access savings, and used the round up facility.
I turned off the round up facility when the first year was up - better places to save money.
The saving rate was slowly getting beaten so that money moved elsewhere.
The cashback (1%) is only used for a short period each month - the remaining spend goes on another credit card paying 0.5% cashback whilst the money most of the spend sits in the offset account saving mortgage interest.

I don't intend binning the account - if the cashback on my credit card gets pulled, then the Chase card will see all spending apart from "pay at pump" and stuff that doesn't attract cashback.

Jami74

I love Chase! Although it is one of many accounts which all serve different purposes, and I'm sure I have never sent or received a chaps payment. My card got declined quite a bit in the beginning when I'd forget to transfer money from the savings account before spending.