Independent BankAdvisor review
Chase UK Overview
Chase UK is an app-only bank backed by JPMorgan Chase. It offers a fee-free current account, cashback on eligible spending, easy-access savings, round-ups, investment access, and no Chase foreign transaction fees on debit card spending abroad.
Quick facts
FSCS protection
Protected up to £120,000
Trust score
3.5 / 5
Monthly fee
£0
Current account
Yes
Account summary
Key features
| FSCS Protection | Yes — eligible deposits are protected up to £120,000 per person |
| Monthly Fee | £0 - no monthly fee for the Chase current account |
| Current Accounts | Yes — App-based personal current account with 2% cashback up to £20/month on eligible spending categories, subject to criteria and terms |
| Savings Accounts | Three rates. The Chase Saver pays 2.25% AER / 2.23% gross variable as standard. Eligible customers can add a fixed 2.25% AER boost on top for 12 months from opening, taking it to 4.5% AER / 4.41% gross. Separately, the round-up account pays 5.00% AER / 4.89% gross variable, paid monthly, on spare change swept from card spending — its balance transfers to your chosen current or saver account on the anniversary of opening. |
| Credit Card | Chase now references debit and credit card spending in its cashback terms, but its core UK banking product remains the app-based current account |
| Spending Abroad | No Chase foreign transaction fees on card spending abroad. Foreign currency transactions use the Mastercard exchange rate. |
| App Features | Cashback tracker, round-ups, multiple saver accounts, card controls, spending insights, instant notifications, and investment access |
| Borrowing | Not offered — Chase does not currently offer overdrafts, personal loans, or mortgages in the UK |
| Top Savings Rate | 5.00% AER variable on the round-up account, which is fed by spare change rather than deposits. The highest rate on money you pay in yourself is 4.5% AER through the boosted saver offer, for eligible customers and fixed for 12 months; the standard Chase Saver rate is 2.25% AER variable. |
Chase UK at a glance
- Chase UK is JPMorgan's retail bank in Britain, which makes it an unusual app-only bank: the brand arrived here recently, the institution behind it did not. The account is free to hold and the app is built around everyday spending and easy-access saving rather than borrowing.
- Both of its headline offers carry conditions. The cashback is capped and depends on meeting Chase's criteria, and the higher savings rate is an eligibility-gated boost sitting above a lower standard rate. Read them with their terms attached rather than as flat rates.
Chase UK services
The range is deliberately narrow. Chase covers day-to-day money well — the current account, several saver accounts, automatic round-ups, card controls, switching support and access to J.P. Morgan Personal Investing — but it does no lending at all.
There is no overdraft, personal loan or mortgage, no joint account, no business banking and no international transfer service. For anyone who wants an overdraft buffer behind them, or who shares money with a partner, that makes Chase a strong second account rather than a replacement for a main one.
May suit
- OK2% cashback up to £20/month on eligible spending categories, subject to criteria
- OKNo monthly current account fee
- OKNo Chase foreign transaction fees on card spending abroad
- OKEasy-access saver with boosted saver offer for eligible customers
- OKMultiple saver accounts help organise savings goals
- OKRound-up savings feature
May not suit
- !Cashback has to be re-qualified every month: at least 15 payments by card or Direct Debit, with standing orders, refunds and bank transfers excluded
- !Boosted saver offer is only available to eligible customers
- !No overdraft facility
- !No personal loans or mortgages from Chase UK
- !No joint accounts currently available
- !No business banking
Our Assessment of Chase UK
Chase UK stands out because it combines a polished current account, cashback on eligible spending, easy-access savings, round-ups, and fee-free card spending abroad from Chase. Its JPMorgan backing and clean app experience make it a strong choice for users who want simple everyday banking with useful rewards.
Continue Reading
Continue with the Complete Chase UK Review
You've read the summary. Our Complete Review examines the account in much greater detail, helping you understand how it performs in everyday banking before you decide.
- Detailed feature analysis
- Fees and charges explained
- Everyday banking experience
- Account strengths and limitations
- Protection and eligibility
- Comparison with similar UK banks
How Chase UK compares
Compared with other UK digital banks, Chase is especially strong for users who value cashback, a clean app, easy savings organisation, and fee-free card spending abroad. It is less suitable for people who need overdrafts, personal loans, mortgages, joint accounts, business banking, or international transfers.
Explore by product
More ways to compare Chase UK
Financial Information Disclaimer
The information on this website is provided for general guidance only and may not always reflect the latest fees, rates, or terms offered by each bank. While we do our best to keep content accurate and up-to-date, you should always check the bank's official website or app before applying for an account. Nothing on this site constitutes financial advice.
Finished reading about Chase UK?
Read the full review, compare similar banks, or check the provider's latest account details before applying.