Chase Bank UK review: 2026 cashback updates

You might be familiar with Chase Bank if you watch TV. They’ve been ploughing a lot of money into advertising recently.

Let’s look at what Chase Bank offers customers in the U.K.

Chase is an American digital bank owned by J.P. Morgan – a big player in US banking. It came to the United Kingdom in 2021 with some great introductory offers including a popular £20 referral scheme for recommending friends to open an account. It's current refer a friend scheme now pays £50 reward.

Sick of scrolling? Here are the quick key takeaways:

• Average, but not market-leading, interest rate on savings.

• 2% cashback on certain items is the best you can get for a UK debit card.

• App-only bank - no high street branches.

• UK call centre with good service (from personal experience).

• Best UK debit card for foreign spending - but no Section 75 protection.

• A decent secondary account for many UK customers, alongside a traditional high street bank account.

Top Chase Bank UK Account Features

• 2% Cashback on spending on certain items from July 2026.

• 5% interest on ‘round ups’ – rounding up spare change to the nearest £1.

• 2.25% AER interest on a linked savings account.

• A budget-helpful option to open multiple savings accounts for different savings goals.

• Instant notifications on incoming payments.

• 24/7 messaging and phone support.

• Debit card details including pin number stored in the Chase App.

• Options to disable/block/restrict payments easily.

• Temporary increase in daily transfer limit, up to £200,000.

  
  

Here’s a bit more detail on some of these features.

Chase UK is a digital bank – no high street branches.

If you prefer the option of a physical bank branch, then Chase might not be for you. Chase is a digital-only UK bank. The only way to access your account is through the Chase app.

Cashback is a major benefit of Chase.

Many banks don't offer regular cashback like Chase does, so it can provide some extra money for simply spending with your Chase debit card, or using your Chase account to pay direct debits.

Changes to Chase Cashback from July 2026

Starting from 1 July 2026, you can earn 2% cashback – up to £20 a month – on eligible GBP sterling debit card and credit card payments made in the UK and the Channel Islands (Bailiwicks of Jersey and Guernsey).

Criteria to qualify for cashback

Chase has updated its cashback rules, so it’s worth checking what you now need to do to stay eligible.

Cashback is assessed one month in arrears. In simple terms, that means what you do in one month determines whether you earn cashback in the next.

For example, to earn cashback from 1 July 2026, you’ll need to meet the new criteria throughout June 2026

From 1 June 2026 onwards, you’ll need to do both of the following each month:

• Hold at least £1,000 in total across your Chase saver accounts, every day of the month

• Make at least 15 payments during the month, using:

  • your debit card

  • your credit card, or

  • Direct Debits

Miss either requirement and you won’t qualify for cashback in the following month.

What can you earn 2% cashback on?

Under the updated offer, cashback applies when you pay with your Chase debit card or Chase credit card for everyday spending, including:

• groceries

• restaurants

• cafés

• takeaways

• everyday transport

• fuel

• public electric vehicle charging points

  
  

The Chase UK debit card is still the only UK bank debit card that pays cashback.

An alternative cashback option is Santander's range of Cashback Current Accounts. These charge various monthly fees in exchange for cashback on household bills paid by direct debit and other common household spending. Use their calculator to see how the cashback rates stack up against Chase.

Cashback on purchases you return

If you buy something with your Chase UK debit card and then return it, your cashback will be taken back too. If you've already cashed it in by transferring it to your main Chase UK account, then your live total in the rewards section of the app will show as a negative figure.

For example, if you bought something for £100, got £1 cashback and then returned the item, your cashback live total would should as £-1.00.

You'd then continue to earn cashback on other purchases to get it back to a positive value in order to cash in more of your cashback.

The interest rate on a Chase Savings account is not market leading.

As of March 2025, Chase UK pays 2.25% interest on money held in savings account. To get a savings account, you need to first have a Chase current account. In fact, you can open up to 20 savings accounts linked to your current account and they’ll all pay interest.

Make sure to open a savings account in the app once your current is open. Otherwise, you won’t get the interest rate.

There are other bank accounts and cash ISAs paying higher interest rates than Chase. At the moment, the 2.25% interest from Chase is about 2% lower than the leading market rate for a similar instant-access account.

Is it worth moving £1,000 from a higher interest rate account to get 2% cashback?

You could still be better off over the course of a year if you make full advantage of the cashback rules.

As mentioned, you need to keep £1,000 in your Chase account every day of the month,

Let's assume you're currently getting 4% savings interest a month from a different account and you move it to Chase which pays 2.25%. Over 12 months, you'd lose £17.50 in interest.

But if you spent £500 a month - reasonable if you think about cost of a monthly food shop, some travel costs and the odd meal or takeaway plus cafe purchases - then you'd get total cashback across the year of £120. So you'd make more in cashback than the interest lost by moving £1,000 from a higher interest account.

The main thing to consider is the liklihood of not touching that £1,000 at all. It might be that you have an emergency fund in place, and could simply move £1,000 of that over to Chase.

Additional savings accounts can make budgeting easier.

Given you can open multiple savings accounts, it can be a useful way of managing budgets and putting savings towards certain goals. For instance, you might want savings just for holidays, or a new car or a wedding. You can easily split money into different accounts to keep track of your progress.

24/7 support - including a U.K. call centre

Customer service includes a call centre and app messaging service. This is better than some other digital-only UK banks that fail to provide a call centre.

I recently had to contact Chase and the call centre level of service was surprisingly good, having heard from friends using Monzo - a similar app-only bank - how poor their customer service was. Feedback on Chase UK customer service in 2022 was also pretty poor - it looks like they've massively improved things in 2023 as they've become more established.

My call was answered in less than 5 minutes and the adviser I spoke to even called me back to double check the problem had been sorted out. When you can't rely on speaking to somebody face-to-face in a high street branch, then knowing that somebody on the end of the phone will genuinely be able to help is a big comfort.

The app chat function is slightly frustrating in that it's hard to know if it's a real person or just a very advanced bot. I get the impression you're taken to a chat bot initially and then the app refers you to a human if it can't figure out how to help you.

That said, for most of my queries, the chat function eventually gave me the answer. If your query is urgent, phoning is much easier.

I recommend saving their number - 0800 376 3333 - separately too. Calling them from the app is easy, but if you've lost your phone you'll need to dial the number from elsewhere as opposed to just clicking a button.

Digital Debit Card

You’ll get a physical debit card to use in shops, but it won’t contain any details on it like the long card number or expiry date.

Instead, the Chase app contains all your card details and pin number. If you like having a card with the numbers on it – for things like paying over the phone or online – a numberless card can be a bit of a faff.

The app does provide a handy copy and paste function so that you can pay for things on your phone a bit quicker. Not so useful on other devices though. It depends if you're happy using the remember function for card details on your browser.

Instant notifications of payments

A reassuring feature is that you can get instant notifications of money landing in your account plus a secure system that requests you approving outgoing payments in the app before they are made.

This is really useful for impulse purchases. Asking you to confirm if you're happy to make the payment has actually stopped me buying things in the past that I didn't need.

Additional FAQs about Chase Bank UK.

Can I use my Chase card abroad?

Yes, you can use your Chase card abroad.

• No fees to use your card abroad, including cash withdrawals (watch out for ATM charges though).

• You can't get cashback on purchases abroad.

With cashback, this makes the Chase debit card the best UK debit card for spending abroad in terms of value for money.

If you’re making large purchases abroad, you may want to use a credit card instead to get additional Section 75 protection.

Can I pay cash into my Chase Bank UK account?

As Chase Bank has no high street branches in the UK, you currently can't pay cash into your account.

Can I pay cash into my Chase account at the post office?

You can't pay into your Chase UK account at the Post Office. Chase UK is in the process of setting up a cash pay in method using a PayPoint location. This is expected to be available in 2024.

Are there any fees to open a Chase Bank UK account?

There are no fees to open a Chase bank account.

Is Chase UK FSCS Protected?

Yes, Chase Bank has FSCS protection in the U.K. up to £120,000 per customer. That’s in total across all current and savings accounts you have with Chase.

Does Chase UK offer a joint account?

Unfortunately Chase UK does not currently offer joint accounts.

Can you get a Chase UK credit card?

No, Chase UK does not offer a credit card option.

Does Chase UK accept CHAPS payments?

Chase UK doesn't currently accept CHAPS or Swift payments. But it is part of the faster payments system with BACS. If a CHAPS payment is attempted to a Chase UK account, it may take several days for the payment to be found and returned to the payer.

Does Chase UK offer a switching service?

Chase UK is part of the Current Account Switch Service. So if you'd like to move another bank account or building society account to Chase UK, then it takes around 7 days when using the switching service.

The Current Account Switching Service is a great option if you'd like to have Chase UK as your main bank account.

What's the daily transfer limit for a Chase UK bank account?

You can transfer up to £25,000 a day to other bank accounts. While this is a pretty standard amount compared to other UK banks, Chase has a feature that allows you to temporarily increase your daily limit to up to £200,000.

This is very handy if you need to make a large one-off payment such as transferring a property deposit to your solicitor or investing a sum of money. This option avoids having to make a CHAPS payment which other banks charge for.

Limitations with Chase Bank UK

• No business account options.

• No overdraft facility.

• No website banking – app only.

• No cheque book facility.

• App logs you out very quickly if inactive.

Is Chase Bank UK safe?

Chase UK comes with the reputation of an American banking giant and is regulated by the FCA – the organisation responsible for overseeing UK banks.

Security encryption ensures your online account is protected.

Bear in mind that your Chase bank account is effectively managed through your smart phone. If you lost your phone, accessing your account could be difficult.

Keep their phone number saved separately on another device - 0800 376 3333. So if you lose your phone, you can reach customer support.

Summary

This review of Chase Bank UK has gone through the key features of a Chase bank account, as well as some of the technical limitations.

If you’re happy to do all your banking on an app, Chase UK offers some attractive benefits. It’s regulated and protected just like the well-known high street banks.

You may even want to consider have this account alongside another bank account. Opening one won’t cost you anything.

About the author

Jordan White is a FCA-registered Financial Adviser and also provides financial education to employees and individuals. He specialises in retirement planning, investment planning, family finances and budgeting.