Chase bank account review

Chase has become one of the more interesting options for everyday banking in the UK, combining a fee-free current account with cashback, competitive savings rates and fee-free spending abroad. But with some of its original perks changing over the years, is it still worth opening an account?

I’ve been using Chase since it launched in the UK, so I’ve seen how the account and its features have evolved. While it still offers some attractive benefits, there are a few limitations worth knowing about before making it your main bank account.

You can currently earn 2% cashback on eligible spending, up to £20 a month, earn 5% AER (variable) on round-up savings and get 2.5% AER on its easy-access saver. However, qualifying for cashback now requires at least £1,000 across your Chase savings accounts and 15 qualifying payments each month.

In this review, I’ll look at what Chase does well, what’s changed since launch and where it falls short, including its savings features, mobile app, customer service and spending abroad. I’ll also explain who I think would benefit most from opening an account and whether I’d recommend it.

Chase bank account: at a glance

Last updated: November 2026

What is Chase?

Chase is the UK consumer banking brand of JPMorgan Chase & Co, one of the world’s largest financial services groups. While the Chase name has been familiar to American customers for decades, its UK digital bank launched in September 2021.

Unlike many digital banks and fintech companies, Chase is backed by an established banking group with a long history and a substantial international presence. Its UK operation is regulated by the Financial Conduct Authority and Prudential Regulation Authority, with J.P. Morgan Europe Limited operating under the Chase brand.

The UK account is entirely digital, with customers managing their money through the Chase mobile app rather than visiting branches. It started with a fee-free current account and has since expanded to include savings, cashback and credit cards.

Is Chase still worth it?

Chase remains a worthwhile account if you want cashback on everyday spending, competitive savings features and a convenient way to spend abroad without foreign transaction fees.

However, for some it won’t be a complete replacement for a traditional bank account. The lack of overdrafts, joint accounts and things like mortgages, means some people will need to keep another current account alongside it.

For me, its biggest attraction is the combination of cashback, savings and travel benefits in one free account. Whether it’s worth using as your main bank depends on which features matter most to you.

Best for

• UK residents who want a simple, digital current account with a linked easy‑access saver.
• Everyday spending that earns 2% cashback on eligible groceries, eating out, fuel and local transport up to a monthly cap.
• Fee‑free spending and cash withdrawals when travelling abroad, within Chase’s daily and monthly ATM limits.
• People happy to manage their money entirely from a mobile app rather than in‑branch or via desktop banking.

Not ideal for

• Anyone who relies on an arranged overdraft, joint account or business account with the same provider.
• People who regularly pay in cash or cheques and need branch access or Post Office counter services.
• Savers who always chase the very highest easy‑access rate on the market and are willing to switch frequently.
• Those who prefer a traditional bank with branches and a full web banking experience.

Chase bank account features and benefits

The UK banking sector is one of the most mature and competitive in the world. Not only is Chase hoping to compete with the big highstreet banks such as Barclays, HSBC, Lloyds etc… it’s also going up against successful digital challengers Monzo, Starling, and Revolut. In order to win over consumers Chase is offering a range of benefits:

2% Cashback on everyday spending

One of Chase’s biggest attractions is its 2% cashback offer. You can earn cashback on eligible spending at supermarkets, restaurants, cafes, takeaways, fuel stations, public electric vehicle charging points and on everyday transport, including buses and trains.

You can earn up to £20 a month, although there are a couple of conditions you need to meet.

To qualify for cashback, you must:

<ul>
<li>Make at least 15 payments each month using your Chase debit card, Chase credit card and/or Direct Debits.</li>
<li>Maintain a combined balance of at least £1,000 across your Chase savings accounts every day throughout the month. Round-up accounts don’t count towards this balance.</li>
</ul>

These conditions need to be met in one calendar month to qualify for cashback in the following month. Importantly, Direct Debits count towards the 15-payment requirement but don’t earn cashback themselves. Only eligible debit and credit card purchases qualify.

Cashback is capped at £20 a month, which means you’ll need to spend £1,000 on eligible purchases to reach the maximum.

For example:

The 2% rate is attractive, particularly if you already use Chase for your everyday spending. However, the £1,000 savings requirement makes it less appealing if you prefer to keep your money elsewhere or regularly move savings between providers to chase better rates.
How Chase cashback has changed 

When Chase first launched in the UK, it offered 1% cashback on a much wider range of debit card spending. Over time, it introduced restrictions on eligible spending categories and changed the requirements for earning rewards.

In 2025, cashback was restricted to groceries, fuel and everyday transport, with a £15 monthly cap.

In June 2026, Chase announced a more generous 2% rate, increased the monthly cap to £20 and expanded the eligible categories to include restaurants, cafes and takeaways. However, the old monthly pay-in requirement was replaced with the current 15-payment and £1,000 savings criteria.

The headline cashback rate is now better than it was at launch, but earning it consistently requires a little more planning.

5% interest on round-up savings

Another interesting feature is Chase’s round-up savings account, which currently pays 5% AER (variable) interest.
When activated, Chase automatically rounds up eligible debit card purchases to the nearest pound and transfers the difference into a separate round-up account.

For example, if you spend £6.55 on a lunchtime meal deal, Chase rounds the payment up to £7 and transfers the remaining 45p into your round-up account.

The money earns 5% AER variable interest, calculated daily and paid monthly. Chase automatically transfers your accumulated round-ups and interest into an account of your choice once a year, although you can withdraw the money earlier if needed.

The main limitation is that your savings depend on how frequently you use your Chase debit card. Someone who only uses the account occasionally isn’t going to accumulate as much.

It’s also worth remembering that the 5% rate is variable, so there’s no guarantee it will remain at this level.

Personally, I prefer the way Trading 212 handles round-ups. Rather than simply moving spare change into a savings account, you can automatically invest it into a stock, ETF or investment Pie of your choice.

Of course, these are two quite different propositions. Chase’s 5% rate offers a predictable return (although the rate is variable), while investments can fall as well as rise. But if you’re comfortable with investing and already use Trading 212, I find the idea of putting small amounts of spare change to work in a portfolio more appealing.

Chase’s round-up account is a useful savings feature, particularly if you want to build up a cash buffer without thinking about it. I just don’t think it’s quite as interesting as an automatic investing option.

Chase easy-access savings account

Chase also offers an easy-access savings account paying 2.5% AER AER (variable). It’s available exclusively to Chase current account customers and allows you to earn interest without locking your money away.

There is no minimum opening deposit, and you can make withdrawals whenever you like without paying a penalty. Interest is calculated daily and paid monthly.

One particularly interesting aspect is the maximum balance. Chase allows customers to deposit up to £3 million across their savings accounts, which is considerably more than the limits imposed by many competing easy-access accounts.

You can also open multiple saver accounts, making it possible to keep money for different purposes separate.

The interest rate is variable and linked to the Bank of England base rate, sitting 1.5 percentage points below it. This means it can change when the base rate changes.

Whether it’s a competitive option depends on the rates available elsewhere. I’d compare it with the best easy-access accounts before depositing a substantial amount, particularly if you’re prepared to move your savings to get a better return.

Can you create savings pots with Chase?

Chase doesn’t have a dedicated savings pot feature in quite the same way as Monzo or Starling (and now Zopa Biscuit). However, you can open multiple savings accounts and give each one its own name.

For example, you could have separate accounts for holidays, emergencies, a new car or general savings.

This achieves much the same result, although it’s arguably a little less convenient than having dedicated savings pots within a single account.

Transfers between your Chase accounts are straightforward and can be made through the app, making it relatively easy to move money around when needed.

If you’re particularly interested in organising your savings digitally, it’s worth comparing this with the savings features offered by other app-based banks.

Pay cash into your Chase account at PayPoint

One of the more significant changes to Chase’s offering is the introduction of cash deposits through PayPoint.

Previously, the lack of a way to pay cash into your account was a notable disadvantage, particularly if you occasionally receive cash payments or prefer to deposit physical money rather than visit another bank.

Chase has now partnered with PayPoint, allowing customers to deposit cash at more than 30,000 participating shops across the UK.
The process is relatively straightforward:

1. Open the Chase app and go to Payments, then Add money.
2. Select the option to pay in cash at a PayPoint.
3. Enter the amount you want to deposit and generate a barcode.
4. Show the barcode to the cashier and hand over your cash.
5. The money will usually appear in your Chase account within 10 minutes.

There is no charge for using the service, but deposits are limited to between £10 and £500 per calendar month. You’ll also need to generate a fresh barcode in the app, which remains valid for 20 minutes.

This is a welcome improvement, though if I’m honest, I’ve never paid cash into any bank account digital or otherwise in the last 15 years.

Still, it removes one of the more obvious limitations of an entirely app-based bank and makes Chase a more realistic option for everyday banking.

The £500 monthly limit may be restrictive if you regularly deposit larger amounts of cash, but for occasional deposits it’s likely to be sufficient.

Is Chase good for travelling abroad?

Chase is one of the best UK current accounts for travelling abroad. Like Starling and Monzo, it offers fee-free spending in foreign currencies, with transactions converted using the Mastercard exchange rate. There are no additional foreign transaction fees or exchange rate markups from Chase.

Having used Chase since its launch, the fee-free overseas spending is one of the features that makes it worth keeping, even if you don’t use it as your main current account.

Fee-free foreign ATM withdrawals

One of Chase’s biggest advantages over other travel cards is its generous allowance for cash withdrawals.

You can withdraw up to £1,500 per calendar month without Chase charging you any fees. That’s considerably more generous than the £200 allowance on Revolut’s Standard plan or Monzo’s standard account when travelling outside the UK and EEA.

This is particularly useful in countries where cash is still widely used. Germany comes to mind, as does the Caribbean, and the US (especially for used items).

Having travelled extensively, I’ve encountered plenty of ATMs that charge for withdrawals, even when your own bank doesn’t.

Santander ATMs in Spain are a particularly good example, often charging up to €5 for a single withdrawal. These operator fees aren’t something Chase can avoid, but at least you won’t have additional charges from your own bank.

There is also a daily cash withdrawal limit of £500, so you’ll need to bear that in mind if you regularly withdraw larger amounts.

No ATM fees at Chase branches in the US

The situation is similar in the United States, where ATM withdrawal fees can be surprisingly expensive. Practically all independent machines charge a fee, and even those operated by major banks can charge customers using cards from other providers.

However, one advantage of having a Chase account is that you can use Chase-operated ATMs in the US without paying a withdrawal fee.

That’s a useful benefit if you’re visiting the States, particularly given the cost of using some of the independent cash machines.

Always pay in the local currency

One final tip when using your Chase card abroad: if a payment terminal or ATM asks whether you’d like to be charged in pounds or the local currency, always choose the local currency.

Choosing GBP allows the merchant or ATM operator to apply its own exchange rate, which is often considerably worse than the Mastercard rate you’ll receive through Chase.

Chase cash withdrawal limit in UK

The Chase account has a UK daily cash withdrawal limit of £500. To put that into perspective, Starling customers are limited to a paltry £300 per day, and Monzo customers can withdraw £400 a day from ATMs limited to a maximum of £5,500 per month.

There is no daily limit on the amount you can spend with your card, and bank transfers up to £25,000 can be carried out daily.

What are the Drawbacks and limitations of the Chase account?

Despite its many benefits, Chase isn’t without its shortcomings. Some are relatively minor inconveniences, while others could be deal-breakers depending on how you use your bank account.

No branches or cheque deposits

Chase is a digital-only bank, so there are no physical branches in the UK. While that won’t bother most people who are comfortable banking through an app, it does mean you can’t pop into a branch to speak to someone or deal with more complicated banking requirements in person.

Chase has made some progress in addressing the lack of cash deposit facilities, introducing cash deposits through PayPoint. You can now pay notes and coins into your account at participating retailers, although deposits are limited to £500 per calendar month.

Cheque deposits still aren’t supported. If you regularly receive cheques or need access to traditional counter services, you’ll probably want to keep another bank account.

No overdraft facility

Unlike many traditional current accounts, Chase doesn’t offer an arranged overdraft. This means there’s no facility to borrow money through your current account if you temporarily run short.

While this won’t be a problem for everyone, it does mean you’ll need to make sure you have sufficient funds available to cover your payments. If you’re looking for a current account with an overdraft facility as a financial safety net, Chase isn’t an option.

No international bank transfers

Despite being part of one of the world’s largest banking groups, Chase UK doesn’t currently support international bank transfers.

You can send money to other UK bank accounts, but you can’t use your Chase account to send or receive international payments.

This is a fairly significant omission if you regularly transfer money overseas, particularly when competitors such as Starling and Revolut offer international payment facilities.

It’s also an odd one given Chase’s international status. I’d be looking for Chase to add this in the future or create an add-on account as HSBC do with the Global Money Account.

No web-based banking

Chase is very much an app-first bank, and there’s no traditional internet banking service that allows you to log in and manage your account through a web browser.

For most everyday banking, the app works perfectly well. However, there are occasions when I’d much rather use a larger screen and a proper keyboard.

For example, reviewing transactions, managing multiple accounts or moving money around can be easier on a desktop computer. It’s a shame Chase doesn’t offer this option, especially as Starling, which I also use does.

No number on the debit card

The Chase debit card doesn’t display a conventional 16-digit card number, expiry date or security code. Instead, you’ll need to open the app to access these details.

From a security perspective, this makes sense. If you lose your physical card, someone can’t simply copy the details printed on it. However, it can be a little inconvenient.

If you need to make a payment over the phone, you’ll have to open the app to retrieve your card details. That might mean juggling two things at once or writing the details down beforehand (thus negating the security benefit).

It’s a relatively minor annoyance, but one that you won’t encounter with most traditional debit cards.

Limits on large transfers

Chase has a daily limit of £25,000 for transfers to other UK bank accounts. While that’s more than enough for most everyday banking, it could be restrictive if you’re moving larger sums of money.

You can ask Chase to temporarily increase your limit to as much as £1 million, but this requires approval and isn’t necessarily immediate. Requests are processed during weekday business hours, and any approved increase expires at midnight on the day it’s granted.

If you’re planning a particularly large payment, you’ll need to arrange this in advance.

How do I get a Chase bank account?

• Be aged 18 or over.
• Be a UK resident and UK tax resident.
• Have a smartphone and UK mobile number.
• Meet Chase’s credit history criteria.

You’ll also need to verify your identity during the application. This involves providing a photograph of an accepted form of photo ID, such as a passport or driving licence, and taking a selfie. Chase will also ask for personal details, including your home address and employment information.

You can apply by downloading the Chase banking app and following the instructions. There’s no need to visit a branch or pay an account opening fee.

Will Chase check my credit score?

Yes, Chase carries out a soft credit search when you apply for a current account to check that you meet its credit history criteria. This won’t leave a visible footprint on your credit file or affect your credit score.

However, Chase does share information about your current account with credit reference agencies periodically, including details of money paid into the account and your balance.

Top-level customer service

Chase offers 24 hour customer service and support via the app, via twitter and its free customer support number 0800 376 3333.

It struggled somewhat in summer 2022 when it offered a free £20 sign up bonus and was overwhelmed by new customers. Since then though Chase has improved its support offering, and recently claimed the Customer support crown in Money Saving Expert’s biannual banking survey.

A whopping 94% of customers surveyed rated the bank’s customer support as ‘great’ whilst just 1% rated it poor. Starling was second with 91% of customers surveyed rating it as ‘great.’

To put that in comparison with a traditional highstreet bank account, 39% of customers rated Barclays customer service as ‘poor.’

Current account switching

In 2023, Chase joined the Current Account Switching Service (CASS), making it possible to switch your existing bank account to Chase without having to manually transfer your regular payments.

The switching service takes seven working days and automatically transfers your balance, Direct Debits, standing orders and saved payees. It also redirects payments sent to your old account for up to three years. However, you’ll need to update any recurring card payments, such as subscriptions, yourself.

You can also use CASS to switch away from Chase to another bank, which is particularly useful if you’re taking advantage of current account switching bonuses.

One thing I particularly like about Chase is how easy it is to open additional current accounts within the app. This means you can use a separate Chase account for switching to another bank, leaving your main account untouched.

I’ve actually done this myself for my most recent bank switch. It’s a convenient way to take advantage of switching offers without disrupting your everyday banking.

Is Chase bank UK safe?

As with any new bank it’s only natural to wonder if your money is safe. Chase is a trading name of JP Morgan Europe Limited which is regulated by the FCA and Prudential Regulation Authority. The account has full FSCS protection, which means you would be eligible for compensation on balances up to £120,000 in the unlikely scenario of the bank going bust.

Additionally, Chase has employed a new UK customer service team to help customers with any enquiries, as well as a raft of security features and checks within the app. Including 128-bit encryption of user details and transaction data. It also offers 24/7 fraud monitoring, instant notifications of account activity and the ability to freeze your card if you need. Confirmation of Payee (CoP) will also be implemented in the next few months.

Overall, I wouldn’t have any particular concerns about the safety of keeping money with Chase. It’s a fully regulated UK bank with FSCS protection and the security features you’d expect from a modern banking provider.

Is Chase UK a good bank? How does it compare?

Yes. I’ve personally used Chase since its inception in the UK, and the overall Money Saving Answers verdict is that Chase is a good bank. Many of its bells and whistles have been done before, but as an overall package it’s right up there with the best current accounts.

Chase has grown considerably since entering the UK market, although its approach to customer incentives has changed along the way. Some of the introductory offers and ongoing rewards that helped it attract customers have been reduced or withdrawn altogether. That’s left a bad taste in my mouth, and other customers have expressed similar frustrations.

If you’re primarily interested in making money from switching banks, you’ll probably get better value from taking advantage of one of the current account switching bonuses available. Some offers are worth £200 or more, which is considerably more than most people will earn from Chase’s ongoing rewards. Of course, switching bonuses are generally one-off payments rather than something you can rely on every month.

For everyday spending, Chase’s 2% cashback is now a fairly generous proposition. You can earn up to £20 a month on eligible purchases, covering things like groceries, restaurants, cafes, takeaways, everyday transport and fuel.

Just how much you could earn from round-ups is difficult to work out as it will depend on your spending habits. I won’t choose Chase just for this. Overall, I’d recommend Chase to anyone looking for a good solid current account with modern features who values fee-free foreign spending, and can make use of the cashback offer.