Chase, how to close account

ZeroSum

Why do need to actually close it?
Just leave a zero balance, and delete the app & leave it dormant. They may well just close it eventually due to lack of activity.

Mr.Generous

I think from the T&C's the 1% cash back is first year only.

ZeroSum said:

Why do need to actually close it?
Just leave a zero balance, and delete the app & leave it dormant. They may well just close it eventually due to lack of activity.

If they've really annoyed you leave a 1p balance in and delete the app. They eventually transfer it into a collective holding account with other dormant balances but have to keep records of who the funds came from in case a customer returns from the dead and asks for it.

northwalesd

Log in to the Chase app, go into the account you wish to close, select the three dot menu button - top right (which today I learned is the kebab menu icon). Bottom option is Close Account.

km1500

tip: you have to close your savings and roundup accounts (if any) first

Zopa_Trooper

Mr.Generous said:

I think from the T&C's the 1% cash back is first year only.

ZeroSum said:

Why do need to actually close it?
Just leave a zero balance, and delete the app & leave it dormant. They may well just close it eventually due to lack of activity.

If they've really annoyed you leave a 1p balance in and delete the app. They eventually transfer it into a collective holding account with other dormant balances but have to keep records of who the funds came from in case a customer returns from the dead and asks for it.

No, the 1% remains after a year, you're just limited to £15 return a month. Not many people spend £1500 on their debit card each month (I do) so that's plenty.

penners324

Easiest way is to CASS the account 

Zopa_Trooper

This thread got me thinking. Is there anything I don't like about chase? The answer was yes.

Under their terms to qualify for the 1% cashback in any month you have to pay £500 into the current account. You cant move £500 from your savings account with them, that won't count. So that means you can put £500 in the current then move it immediately to the savings account (qualified) but you can't put £500 into the savings account and move it straight to the current account. It's a bit of a nonsense really, you are still adding £500. 
Anyway, I made them "aware" and the guy actually agreed and is raising my "complaint" further up the chain. Probably won't come to anything but it's nice to know they listen to you, even just for appearances sake.

pochisoldi

Mr.Generous said:

I think from the T&C's the 1% cash back is first year only.

ZeroSum said:

Why do need to actually close it?
Just leave a zero balance, and delete the app & leave it dormant. They may well just close it eventually due to lack of activity.

If they've really annoyed you leave a 1p balance in and delete the app. They eventually transfer it into a collective holding account with other dormant balances but have to keep records of who the funds came from in case a customer returns from the dead and asks for it.

Transfer £500 into the current account on the first of the month. then send it back from where it came - guarantees 1% cashback the next month.
Alternatively if you are using Chase for cashback, transfer your spending money over in dribs and drabs through the month, then  before the end of the month transfer a smaller lump sum to take you over the £500 threshold.

I think that deposits which go into a Chase savings account and then get transferred into the Chase current account may not qualify, so always transfer "spending money" into Chase current and then move it to the savings account.