Chase £100 incentive

SavingsBoo

I've just got a message from Chase (who I already have current and savings accounts with, but the current account is not my main one).

They're offering a £100 Amazon voucher if I make my Chase current account my main income account - i.e. pay my salary (min £1,500) in each month for two months.  Either by using the switching service or manually changing my account details with my employer.

I haven't found a drawback yet!  I have a 'burner' current account that I switch regularly and currently got a switch underway but my main current account has been with the same bank for around 30 years and that's where my salary is paid and the majority of my bills are paid from, I do like having that continuous history.  But I think I can just manually change to Chase and then change back again in a few months time, leave my direct debits as they are and just transfer what's needed from Chase to my main current account for those two months.

Has anyone else had the same email and understand the same as me?

la531983

Yes had the same. I dont want to close the account my DDs come out of, problem i have is i have multiple DDs come out the same day I get paid, first thing, and dont want to run the risk of any of them bouncing as I didnt have time to move funds over 

GrumpyDil

Just found the email and that's pretty much what I will be doing.

SavingsBoo

la531983 said:

Yes had the same. I dont want to close the account my DDs come out of, problem i have is i have multiple DDs come out the same day I get paid, first thing, and dont want to run the risk of any of them bouncing as I didnt have time to move funds over 

Oh no .... Fortunately most of my DDs come out on the 1st (or next working day) and I get paid on the last day of the month.  I already do a bit of juggling between accounts at the turn of the month so I should be ok!

GalacticaActual

I got the £100 Amazon Gift Card offer this afternoon.

I won’t be able to put in the £1,500 from my salary. HMRC is taking back some tax owed from the past, re. savings interest, so my pay is way lower than it used to be, and it’s definitely not enough to cover the £1,500 requirement

Also, in the Legal stuff, it says, “Please make sure this is a direct credit into your Chase Current Account, not a transfer from another bank account you own. This could include your salary or pension, for example.”

gc747

I too have been offered this incentive, I’m self employed.. I know it says it make sure it’s a credit and not a transfer from another bank account you own.. but would they know? I pay my self a sum each month into a current account in my name? 

danny13579

gc747 said:

I too have been offered this incentive, I’m self employed.. I know it says it make sure it’s a credit and not a transfer from another bank account you own.. but would they know? I pay my self a sum each month into a current account in my name? 

As I haven't seen the T&Cs and was not sent this offer, I can't say for sure, but I would imagine if it's an account in a different name paying you, for example a company account, then that would be fine.

la531983

gc747 said:

I too have been offered this incentive, I’m self employed.. I know it says it make sure it’s a credit and not a transfer from another bank account you own.. but would they know? I pay my self a sum each month into a current account in my name? 

Yes because BACS runs show different to a "bank transfer".

grumpy_codger

danny13579 said:

gc747 said:

I too have been offered this incentive, I’m self employed.. I know it says it make sure it’s a credit and not a transfer from another bank account you own.. but would they know? I pay my self a sum each month into a current account in my name? 

As I haven't seen the T&Cs and was not sent this offer, I can't say for sure, but I would imagine if it's an account in a different name paying you, for example a company account, then that would be fine.

I don't think so.

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/

35har1old

SavingsBoo said:

I've just got a message from Chase (who I already have current and savings accounts with, but the current account is not my main one).

They're offering a £100 Amazon voucher if I make my Chase current account my main income account - i.e. pay my salary (min £1,500) in each month for two months.  Either by using the switching service or manually changing my account details with my employer.

I haven't found a drawback yet!  I have a 'burner' current account that I switch regularly and currently got a switch underway but my main current account has been with the same bank for around 30 years and that's where my salary is paid and the majority of my bills are paid from, I do like having that continuous history.  But I think I can just manually change to Chase and then change back again in a few months time, leave my direct debits as they are and just transfer what's needed from Chase to my main current account for those two months.

Has anyone else had the same email and understand the same as me?

Do you often get email from Chase.
Checked online the Chase pages no mention of a switch incentive no mention on the app how do you apply for the switch is it through app

danny13579

grumpy_codger said:

danny13579 said:

gc747 said:

I too have been offered this incentive, I’m self employed.. I know it says it make sure it’s a credit and not a transfer from another bank account you own.. but would they know? I pay my self a sum each month into a current account in my name? 

As I haven't seen the T&Cs and was not sent this offer, I can't say for sure, but I would imagine if it's an account in a different name paying you, for example a company account, then that would be fine.

I don't think so.

https://www.bacs.co.uk/bacs-schemes/bacs-direct-credit/

As I said, I haven't seen the T&Cs. Do they specifically say the payment has to be BACS?