Chase UK

Who they are

JPMorgan Chase entered the UK retail banking market in September 2021 by launching an app-based current account and savings account under the Chase UK brand. It was a significant moment - one of the world's largest financial institutions turning its attention to everyday UK savers and spenders, not just the corporate clients it had long served from its London offices.

Chase is a fully digital bank that is part of the JPMorganChase family. It has been voted the Best British Bank in 2023 and 2024 and is one of the UK's top banks for overall service quality. There are no branches to walk into, so everything happens through the app. Chase UK is part of JP Morgan Chase, which also owns UK investing app Nutmeg.

Savings accounts

Chase keeps things deliberately straightforward on the savings side. There is one core product: the Chase Saver, an easy-access account paying 4.50% AER variable, available from just £1. That headline rate is made up of a variable base rate plus a 2% fixed bonus that applies for the first 12 months - what Chase calls the Boosted Saver. After 12 months, the rate reverts to the standard variable rate, so it is worth setting a reminder at around the 11-month mark to review your options.

The account is linked to the Chase current account, so you will need to open that first. New customers only. Deposits are protected up to £120,000 under the FSCS.

That £120,000 protection limit is worth noting - it is higher than the standard £85,000 limit that applies to most UK banks, reflecting Chase UK's specific authorisation structure. If you hold money with other providers that share a banking licence, you would need to check that separately, but for Chase UK customers this gives a meaningful ceiling for deposit protection.

The current account

The current account itself has earned Chase a strong following since launch. You can benefit from savings round-ups, fee-free spending abroad, and linked savings accounts. What makes Chase stand out is its cashback offer and numberless debit cards designed to keep your information safe.

Users generally praise the app's clean interface and fee-free international spending features, making it a favourite for travellers. The numberless card is a neat security touch that sets it apart from most competitors. On the flip side, sentiment among some long-term customers has declined due to changes to cashback rewards and the persistent lack of joint accounts. There are no overdrafts and no cash or cheque deposits either, which matters if you occasionally deal in cash.

Is it right for you?

Chase UK tends to suit individual savers who want a clean, capable app, competitive easy-access interest, and a travel-friendly card - all in one place without paying a monthly fee. The boosted savings rate is genuinely competitive, particularly for someone starting fresh who can take full advantage of the 12-month bonus period.

It is less suited to households that need joint accounts, anyone who relies on an overdraft, or people who want to deposit cash. As a digital-only bank, customer support is handled entirely in-app, which works well for simple queries but can feel limited if something more complex arises.

There is no switching incentive on offer from Chase at the time of writing, so the value here is in the ongoing product rather than an upfront bonus.

As always, the live rates shown on this page reflect the current position - rates change, and the figures here are the ones to rely on before you apply.