Chase Comes to UK to Provide Consumers with Easy and Rewarding Banking Experience


LONDON–(COMMERCIAL THREAD) – JPMorgan Chase today launched its new digital bank in the UK under the Chase brand. Chase is the largest consumer bank in the United States and provides a wide range of financial services to more than 60 million American households.

New customers can register at chase.co.uk, after which they will be prompted to download the Chase app. Customers can open a checking account in minutes through the simple and intuitive app. The account offers a range of features to help people budget, manage their money, spend and save. A UK-led customer support team will be a key part of Chase’s banking experience. With just a few clicks in the Chase app, customers will be connected to a specialist – 24/7.

Sanoke Viswanathan, CEO of the bank, said: “We are offering people in the UK the chance to experience Chase for the first time with a simplicity-based checking account, a hassle-free rewards program and exceptional customer service. ”

The Chase checking account will be launched with a rewards program offering 1% cash back on all qualifying debit card spending for 12 months *. This has been developed in line with UK debit card consumer spending habits to ensure that all customers can enjoy rewards on many things they already buy every day including, but not limited to, groceries, travel, meals, entertainment, fashion, housewares. , electronics, as well as flights and vacations.

There will be no charge to open the Chase Checking Account and start earning Cash Back Rewards. Customers will receive cash back rewards without the need to switch banking providers, commit to a minimum account balance, or set up direct debits. The 1% refund is payable when customers use their Chase debit card in person or online, and will be available at retailers nationally and internationally.

In addition to a simple and straightforward rewards program, Chase also offers:

  • Additional customizable current accounts to simplify money management: configurable through the Chase app in seconds and designed to help people budget, set aside, save and spend in the way that works best for them. Each Chase account comes with its own unique account number, and the Chase debit card can be linked instantly, so customers can spend anytime from any account they choose.
  • Small coin raids on which they will win 5% interest for 12 months: Customers can save as they spend by rounding their debit card purchases to the nearest £ 1 and depositing loose change into a separate account where it will earn 5% interest ** for 12 months. Roundups will be deployed to all customers over the coming weeks.
  • Free use of the debit card abroad: Chase will not charge customers any fees when they use their card while traveling, including cash withdrawals from ATMs abroad.
  • A debit card without a number: Card details are stored behind a secure connection on the Chase app, so customers don’t put their account details at risk if they lose their physical card. They can still continue to use their Chase card through their digital wallet. The debit card was made from recycled plastic (rPVC) and all card packaging is made from recycled materials, and everything is fully recyclable.

“After talking at length to UK consumers, we know people want value for money combined with a great experience, from a trusted bank. With cash back rewards on daily debit card spending and increased interest on roundups, we can help customers save money while spending on items they already buy every day, ”said Viswanathan.

Chase intends to introduce a wide range of banking products in the future, including new features for checking account, savings and investment accounts, and loan products.

* Exceptions apply – see terms and conditions at chase.co.uk

** 5% AER (4.89% gross, variable)

About Chase in the UK

Chase is the consumer and commercial banking business of JPMorgan Chase & Co (NYSE: JPM), a leading global financial services company with $ 3.7 trillion in assets and operations worldwide.

Based in Canary Wharf, London, the new UK service is specially designed to meet the needs of customers across the country. It will offer a range of banking products and functions, starting with a checking account. In the UK, Chase is a trade name of JP Morgan Europe Limited. JP Morgan Europe Limited is authorized by the Prudential Regulation Authority and regulated by both the Financial Conduct Authority and the Prudential Regulation Authority. For more information, visit chase.co.uk.

About Virginia Ahn

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