Chase UK Review
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.
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 | Yes — Chase Saver standard rate is 2.25% AER variable. Eligible customers can access a boosted saver offer of up to 4.5% AER variable. |
| 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 | Up to 4.5% AER variable through the boosted saver offer for eligible customers. Standard Chase Saver rate is 2.25% AER variable. |
Chase UK at a Glance
- Chase UK offers a fee-free app-based current account, 2% cashback up to £20/month on eligible spending categories, a Chase Saver with a 2.25% AER variable standard rate, a boosted saver offer of up to 4.5% AER variable for eligible customers, round-up savings, and FSCS protection up to £120,000.
Chase UK Services
Chase provides a current account, easy-access savings, multiple saver accounts, cashback tracking, round-ups, card controls, spending insights, Current Account Switch Service support, and access to J.P. Morgan Personal Investing. It does not currently offer overdrafts, personal loans, mortgages, joint accounts, business banking, or international money transfer services in the UK.
✅ Pros
- 2% cashback up to £20/month on eligible spending categories, subject to criteria
- No monthly current account fee
- No Chase foreign transaction fees on card spending abroad
- Easy-access saver with boosted saver offer for eligible customers
- Multiple saver accounts help organise savings goals
- Round-up savings feature
- Access to J.P. Morgan Personal Investing in the app
- Participates in the Current Account Switch Service
- Backed by JPMorgan Chase
- Clean app with instant spending notifications
⚠️ Cons
- Cashback eligibility depends on meeting Chase’s criteria and terms
- 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
- No international money transfer service
- Savings rates and cashback terms can change
- Investment products carry risk and are not the same as cash savings
Why We Like 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.
How We Compare Digital Banks
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.
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.
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