Chase Bank - Anyone here have an account?

[skeeterm5]

Yes.

[Funk]

Had an email today that Chase are increasing the rate on the savings account to 3% AER (2.96% gross). Fair play, nice to see it going up..

Edited by Funk on Thursday 2nd February 18:20

[ATG]

Steamer said:

Earl of Hazzard said:

The APR on the Chase saver account is being increased to 2.7% from the 4th of Jan 2023.

The deposit max is also being increased from £250,000 to £500,000

https://www.google.com/amp/s/www.express.co.uk/fin...

Are you still only 'covered' for £85,000 though?

Chase runs a "fortress balance sheet", i.e. they make a point of holding massive capital reserves. The chance of their customers ever having to resort to the deposit protection scheme is about as low as it can get.

[SlimJim16v]

Now they've acquired nutmeg, if you invest £1,000 they add £100 to it.

[Funk]

When does the nutmeg section of the app go live? Mine still just says 'coming soon'.

[Black AMG45s]

Funk said:

When does the nutmeg section of the app go live? Mine still just says 'coming soon'.

I have same coming soon

[vulture1]

SlimJim16v said:

Now they've acquired nutmeg, if you invest £1,000 they add £100 to it.

Seriously?
Any costs to using nutmeg? when can you sell?
Literally could buy £1000 of atock get my £100 and sell and take the 100?

[SlimJim16v]

It does seem to be a no-brainer.

[vulture1]

SlimJim16v said:

It does seem to be a no-brainer.

I had a quick read.
You need to keep the account going until 30th june and keep £500 in the market or with a product I think.

I dont know much about nutmeg do they have individual stocks i can put into.
There are a few very very safe places for £1000 thinking Realty income Co or similar.

or a 50/ 50 split of a buy and sell on a share.

[RammyMP]

Can you just do a normal investment account not an isa? I’m maxed out for this tax year.

[bad company]

RammyMP said:

Can you just do a normal investment account not an isa? I’m maxed out for this tax year.

Yes you can. I don’t think Chase offer ISA’s yet anyway.

[RammyMP]

bad company said:

RammyMP said:

Can you just do a normal investment account not an isa? I’m maxed out for this tax year.

Yes you can. I don’t think Chase offer ISA’s yet anyway.

I meant with Nutmeg but looking on their website it looks like they do non-isa investment accounts.

[rfisher]

Can't see any mention of £100 cashback on the Nutmeg website.

Does the application for a Nutmeg ISA / GIA have to be done via Chase?

Currently don't have either Chase or Nutmeg accounts, but I'm happy to park £500 in one for 4 months to get £100 towards my PBD £1000 lunch.

[malks222]

was just having a look at this, and seems like they’ve removed the option to open a GIA, and it needs to be an ISA/ JISA/ Lifetime ISA.

[rfisher]

Ok that answers my question.

GIA is a general investment account so still included in the Nutmeg £100 cashback offer.

I'm assuming that you need to put £1000 in initially, but only leave £500 in for the qualifying period.

Or I may have made that up.

[m30dus]

Chase email today advising they will shortly be introducing 1% interest on current account balances also

[spikyone]

m30dus said:

Chase email today advising they will shortly be introducing 1% interest on current account balances also

Great news, whilst it's not much there aren't too many current accounts paying interest and if you still get 1% on spending it's a nice extra perk.

Has anyone reached their 1 year anniversary with this yet? I wonder if they'll allow you to renew the 1% cashback for another year, or whether this is designed to replace it?

[deggles]

spikyone said:

m30dus said:

Chase email today advising they will shortly be introducing 1% interest on current account balances also

Great news, whilst it's not much there aren't too many current accounts paying interest and if you still get 1% on spending it's a nice extra perk.

Has anyone reached their 1 year anniversary with this yet? I wonder if they'll allow you to renew the 1% cashback for another year, or whether this is designed to replace it?

The initial 1% cashback offer is being replaced by a similar offer but with some conditions attached: 1% cashback up to £15, provided you pay in £500 each month.

[RammyMP]

deggles said:

spikyone said:

m30dus said:

Chase email today advising they will shortly be introducing 1% interest on current account balances also

Great news, whilst it's not much there aren't too many current accounts paying interest and if you still get 1% on spending it's a nice extra perk.

Has anyone reached their 1 year anniversary with this yet? I wonder if they'll allow you to renew the 1% cashback for another year, or whether this is designed to replace it?

The initial 1% cashback offer is being replaced by a similar offer but with some conditions attached: 1% cashback up to £15, provided you pay in £500 each month.

I’m about a month away from the anniversary, I’ll see if any new offers materialise. The 1% interest starts from April, when my cashback period ends.

[Somebody]

deggles said:

The initial 1% cashback offer is being replaced by a similar offer but with some conditions attached: 1% cashback up to £15, provided you pay in £500 each month.

Is this final? I though there were other options being considered like funding the current account externally >= £1000 per month?