Chase, the digital banking arm of U.S. giant JPMorgan Chase, has been making a splash in the UK market since its launch in September 2021. Focusing entirely on mobile banking, Chase offers a user-friendly app for both iOS and Android devices, packed with features designed to make managing your finances a breeze.
Mobile App Takes Center Stage
Unlike traditional banks with physical branches, Chase operates solely through its mobile app. This streamlined approach allows them to prioritize a user-friendly experience. The app boasts a clean and intuitive interface, making it easy to navigate your accounts, check balances, and make transactions.
Benefits to Banking with Chase
Here are some of the key features that have attracted over two million customers to Chase in the UK:
- 1% Cashback: For the first year, new customers can earn 1% cashback on everyday debit card spending, a perk that can add up quickly (with a maximum of £15 per month after May 9th, 2023).
- Round-Up Savings: This innovative feature allows you to automatically round up your everyday purchases to the nearest pound. These spare pennies are then deposited into a separate “round-up” account that earns a competitive 5% Annual Equivalent Rate (AER) on the balance.
- High-Interest Savings: Chase offers a linked savings account that pays a noteworthy 4.10% AER on balances up to £500,000.
- Fee-Free Banking: Chase prides itself on offering fee-free banking, including no monthly account fees and no charges for using your debit card abroad.
Getting Started with Chase
Opening a Chase account is a straightforward process entirely done through the mobile app. You’ll need to be a UK resident over 18 with a smartphone and a UK mobile number.
Is Chase Right for You?
While Chase offers a compelling suite of features, it’s essential to consider if a mobile-only bank aligns with your needs. If you value the convenience of physical branches or require more complex financial services, Chase might not be the best fit. However, for those seeking a user-friendly and feature-rich banking experience, Chase’s mobile app is definitely worth exploring.
