Nothing yet! They’re currently not running though! Had a bit of a home server meltdown on Tuesday, and don’t have everything back up yet.
I saw a lady pay with her Chase card in Starbucks the other day and I really liked the look of it. I asked her and she said she had no issues with them as a bank.
Of course this is a survey of one but the card was a nice blue design, minimal looking.
Their sponsorship of the US Open tennis was JPM/Chase dual branded.
Ohhhh, the UK version? And did it look like the renders earlier in the thread with no card number?
Ah no, well she was American so I assume she was using the US brand.
But the card looked similar to the renders, but a darker looking blue?
With what Monzo has just released over the past week I don’t really have a reason to try it out. I’m really excited for it but I’m just going to watch it launch from the sidelines I think
Yes, but it was cleverly Chase on one side, and J P Morgan on the other.
Unless you knew of the connection, it just looked like two brands that both sponsored it.
I have a home server myself, so can imagine what a nightmare that is. I hope you get it sorted soon.
A few more:
Nothing new in the FT one. But a few interesting bits from CW: that it’ll run on AWS, that the UK is a beachhead for the EU and this quote:
David Bannister, chief analyst at Bloor Research is surprised the company chose the name Chase for the new digital bank. “Sort of surprised that they’re using the Chase brand, which isn’t all that well known here unless you are over 50.”
Did Chase used to be here 30+ years ago?
Interesting, yeah I’m not sure what the over 50 bit was about?
I did hear the rumours about a wider European (potentially EU-wide) launch a while ago, but I forget where they were reported.
I can’t find anything on Wikipedia. But I did find out that Chase’s bank licence stipulates that they need to be called Chase (!)
Perhaps it’s to separate the domestic retail banking from the risky trading activities conducted under the JP Morgan brand?
If the claim is it has no brand value in the UK - so what? Functionally that makes it no different to starting a bank called Starling, BO or anything that comes to mind.
Someone should tell them about Brexit…
Sounds very plausible
Even HSBC needed to separate things out and they were already well established. Hence why my account is under “HSBC UK” now
Yes, although that was slightly different I can understand the approach of regulators would probably be similar.
HSBC had to rebrand as the ring-fenced “retail bank” wasn’t supposed to be the same name as the trading, international activity, etc non ring-fenced bank. Barclays did the same, and Barclays retail accounts are now with “Barclays Bank UK” legally speaking, but they decided to keep their high street branding the same.
HSBC wasn’t forced to change their branding either, only the legal name, but they voluntarily did so to make it clear to customers when they were dealing with the ring-fenced and non ring-fenced legal entities.
Exactly, and hence my point that starting a bank with even a low level of brand recognition is better than square one with none at all.
That’s why I slightly disagree with @Peter_G, although I see where he is coming from. There is a certain point where low and no are virtually the same thing, and the effect is the same.
No idea - and I’m over 50
Chase used to offer credit cards in the UK about 20 years ago. Used to have to dodge the clipboard-wielding ladies and gents trying to sign me up every time I took a lunch break when I worked at Capital One.
(Obs only 20 years ago, don’t know if they offered anything more in the 90s.)
Their official press release is at JPMorgan Chase to launch digital consumer banking in the U.K.
Though I see they are only going to launch with a bank account and other products to follow. Basically, what Marcus also said when they launched.