Chase bank launches in the UK

The current account will launch with a rewards programme offering one percent cashback on all eligible debit card spend for 12 months. This has been developed in line with UK consumer debit card spending habits in order to ensure all customers can benefit from rewards on many things they buy every day.

Additionally, there will be no fees to open a Chase current account and start earning cashback rewards. The one percent cashback is payable when customers use their Chase debit card in person or online, and will be offered at retailers at home and abroad.

Commenting on the news, the bank’s chief executive Sanoke Viswanathan said: “We’re offering people in the UK the opportunity to experience Chase for the first time with a current account that’s based on simplicity, a fuss free rewards programme and exceptional customer service.”

The Chase app is also designed to help people budget, set aside, save and spend in the way that works best for them. Each account comes with its own unique account number, so customers can spend at any time.

Alongside this, small change round-ups on which they will earn five percent interest for 12 months will mean customers can save as they spend by rounding up their debit card purchases to the nearest £1, and depositing the small change into a separate account.