Chase Bank - Anyone here have an account?

[asfault]

Steamer said:

Earl of Hazzard said:

J210 said:

Chase have very quietly announced they are changing interest rate to a tracker at 1.15% below BOE

Comes in middle of May

Cheers for the heads up! It also states you can put up to a million quid in now.

Just got that email and laughed re. We are cutting your rates.. but just incase you had another 500K your were struggling to find a home for...

So - bet your bottom dollar interest rate cut in May

not yet they are not.
boe 5.25
chase 4.1

[Somebody]

Unless I'm missing something, I think they have formalised the saver interest rate for the better? The rate is currently already 1.15% below BOE (5.25% - 1.15% = 4.1%), so formally tracking BOE rate is good?

So 4.1% is the peak unless BOE interest rate goes up.

[Steamer]

asfault said:

Steamer said:

Earl of Hazzard said:

J210 said:

Chase have very quietly announced they are changing interest rate to a tracker at 1.15% below BOE

Comes in middle of May

Cheers for the heads up! It also states you can put up to a million quid in now.

Just got that email and laughed re. We are cutting your rates.. but just incase you had another 500K your were struggling to find a home for...

So - bet your bottom dollar interest rate cut in May

not yet they are not.
boe 5.25
chase 4.1

I just didnt think it was a coincidence that Santander said just last week they are cutting 1% off their everyday saver in May too

[Kev_Mk3]

asfault said:

Little bit of a faf but basicly it's 20 seconds work for £15 a month.

However the moment the cashback is gone there's no extra incentive for me.to use chase for all my daily purchases.

I was thinking this, I'll probably go back to my virgin money account for my slush account as I got chase for the cashback and free overseas. Now my main account elsewhere is free overseas and virgin is also chase has no incentive to stay

[paulw123]

Anyone else get an email this morning offering 5.1% on savings account then when the link was clicked on it said offer unavailable?

[KTF]

Just had the popup now. Clicked through and opened the account in seconds. Now showing 5.1% along side the standard saver of 4.1%

[Jawls]

I think that new offer might only be available to a subset of Chase customers.

[Earl of Hazzard]

Jawls said:

I think that new offer might only be available to a subset of Chase customers.

Might be right. I haven't received anything like this .

Mentioned on MSE though and there appear to be some unhappy people who haven't got the offer: https://forums.moneysavingexpert.com/discussion/65...

[paulw123]

KTF said:

Just had the popup now. Clicked through and opened the account in seconds. Now showing 5.1% along side the standard saver of 4.1%

I received it but it says wasn't available when I tried to open it. Will try again later

[22]

Eligibility criteria including no savings account or <£500 in savings on 8/3.

As has been mentioned before on these threads, the 'good' rates are usually to entice new/returning money.

[Funk]

I've just messaged Chase to ask if it's possible to get the higher rate - I had slightly more than £500 in my savings on 8/3 (although only around £850) as I'd moved most of it to Metro. The money in my Chase savings is drip-fed through into my current account throughout the month as required so it's earning more than the 1% the current account offers.

If they offer me 5.1% I'll move the money back from Metro when their rate drops.

Edited by Funk on Monday 8th April 14:02

[Gigamoons]

Retail is a funny ol' business model...

In my B2B world, if I offered terms to new / non-existing customers that were better than my terms with current loyal customers, I'd be out of business by the end of the month.

[bad company]

I have a lot of £’s in Chase, just sent this:-

I’m hearing that your savings rates have increased to 5.1% but I’m not seeing it?

[paulw123]

22 said:

Eligibility criteria including no savings account or <£500 in savings on 8/3.

As has been mentioned before on these threads, the 'good' rates are usually to entice new/returning money.

Yes my savings account was empty hence being offered it,
It's gone through now, took a couple of attempts.
Odd business model though. But it's temped me back so I guess it's worked for them!

[bad company]

paulw123 said:

Yes my savings account was empty hence being offered it,
It's gone through now, took a couple of attempts.
Odd business model though. But it's temped me back so I guess it's worked for them!

Except that’ll I’ll be transferring my money out for a better rate. Strange way of doing business imo.

[Funk]

paulw123 said:

22 said:

Eligibility criteria including no savings account or <£500 in savings on 8/3.

As has been mentioned before on these threads, the 'good' rates are usually to entice new/returning money.

Yes my savings account was empty hence being offered it,
It's gone through now, took a couple of attempts.
Odd business model though. But it's temped me back so I guess it's worked for them!

They'd already lost my money by being uncompetitive - if they want it back, they need to offer me the better rate.

In fact you'd think they would look to re-attract people who've had large savings balances in the past but moved money away.

[paulw123]

Funk said:

paulw123 said:

22 said:

Eligibility criteria including no savings account or <£500 in savings on 8/3.

As has been mentioned before on these threads, the 'good' rates are usually to entice new/returning money.

Yes my savings account was empty hence being offered it,
It's gone through now, took a couple of attempts.
Odd business model though. But it's temped me back so I guess it's worked for them!

They'd already lost my money by being uncompetitive - if they want it back, they need to offer me a better rate.

Agree, 4.1 was too low hence taking all the money out a while ago, at 5.1 I'll add money once Santander drops its rate in May.
Banks never have rewarded loyalty.

[bad company]

They don’t give a s***t.

[22]

We can hardly complain when many/most of us have shuffled money all round the place looking for better rates. There is no loyalty among savers so not sure why we expect different from banks. I didn't qualify.

[highpeakrider]

I got the offer after just leaving £1 in my current acct and closing my savings acct, got the email and tried through the app and it said no.
Used the link from the email and it said yes, so some funds back in at 5.1