Chase 5.1% Saver Account - 1% boost until January [updated]

kev2009

Just seen this offer, considering moving my savings outside of an ISA to it, just not sure if worth moving most of it or just part of it. I've always kept most of my money with well known high street banks and feels safer than a online one but the 5.1% is tempting as it's more than my current savings account.

Kev

Middle_of_the_Road

Chase UK is part J P Morgan, the largest bank in the USA, so I would say it's pretty safe.

https://en.wikipedia.org/wiki/List_of_largest_banks_in_North_America

Wheres_My_Cashback

kev2009 said:

Just seen this offer, considering moving my savings outside of an ISA to it, just not sure if worth moving most of it or just part of it. I've always kept most of my money with well known high street banks and feels safer than a online one but the 5.1% is tempting as it's more than my current savings account.

Kev

High street banks are generally the worst places to keep your money, but you're the one that ultimately pays for it.

kev2009

Thanks, I'll look at the chase one some more.  I have most money now in a ISA, I don't tend to invest much in stock market as not really clued up on all that, every share I've bought to far, only 1 actually made me any more and that wasn't a large sum as I didn't have a large amount in it.

Thanks

Kev

friolento

Middle_of_the_Road said:

Chase UK is part J P Morgan, the largest bank in the USA, so I would say it's pretty safe.

https://en.wikipedia.org/wiki/List_of_largest_banks_in_North_America

How has their size protected Lehman Brothers from collapsing?

Middle_of_the_Road

friolento said:

Middle_of_the_Road said:

Chase UK is part J P Morgan, the largest bank in the USA, so I would say it's pretty safe.

https://en.wikipedia.org/wiki/List_of_largest_banks_in_North_America

How has their size protected Lehman Brothers from collapsing?

Of course any institution can be decimated by following dubious financial strategies. I doubt the circumstances in play then, will be replicated, with the stress testing measures that have been put in place.

friolento

Middle_of_the_Road said:

friolento said:

Middle_of_the_Road said:

Chase UK is part J P Morgan, the largest bank in the USA, so I would say it's pretty safe.

https://en.wikipedia.org/wiki/List_of_largest_banks_in_North_America

How has their size protected Lehman Brothers from collapsing?

Of course any institution can be decimated by following dubious financial strategies. I doubt the circumstances in play then, will be replicated, with the stress testing measures that have been put in place.

Nobody had expected the circumstances under which they collapsed. 

wiseonesomeofthetime

kev2009 said:

Just seen this offer, considering moving my savings outside of an ISA to it, just not sure if worth moving most of it or just part of it. I've always kept most of my money with well known high street banks and feels safer than a online one but the 5.1% is tempting as it's more than my current savings account.

Kev

Bear in mind that the 1% boost is only applied until 16 Jan 2025, and that the rate is variable, so may not be 5.1% for long, and weigh that up against what you are receiving in an ISA.

ToastLady

OP is talking about moving savings outside of an ISA to Chase, not within an ISA wrapper.

kev2009

Thanks, yes, I'm aware is only till Jan and then falls back to 4.1% I believe or whatever the interest rate maybe by then.

Kev