Depends how much one moves.
Email said:
“Your Chase saver account terms and conditions will change.”
Other than interest rate, does anyone see any other significant difference?
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If you have the bonus, I’d say definitely not no.
Quarterly results today weren’t too shabby apparently, so doubt there’s been a material drop. In facts it’s highly likely/near certain they’re experiencing net positive savings inflows and will continue to do so over the coming years.
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In 10 days time though. Dinosaurs 
I’m guessing they’ve been banned from any promos since the mess they got into with the last savings rate increase and then the refer a friend.
This is probably them stepping slowly back in
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If Chase can have one month without an outage and match Santander, I would consider them again. But after last weeks outage they can keep the 2.1%
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More tidbits from the September 1st year anniversary update - £27,000 average balance in the Chase Saver account 
is above the national average:
An understatement based on Parent company’s results yesterday:
Source: Financial Times
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The national average of savings is £23,000?
Oh boy am I under average.
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I wonder what the average balance is now, though. From what I’ve seen, savers can’t empty their Chase accounts fast enough!
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Chase is using a dodgy metric for “average”
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Minus figures here. I’m paying them interest
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Hard to say as the problem with these averages is they don’t say whether they’re referring to the median or the mean. Even in the article you posted I can’t find whether they’re using the median or mean to define average.
Source of your article is also 2 years ago, a little outdated.
I suspect by average Chase U.K. are using the mean, which is skewed by outliers with large balances. Still they must have a lot of affluent clients to have such an average.
There’s no evidence that in less than 3 weeks people are leaving Chase. Net flows will be positive, they’re in growth mode mate. Unless you have actual evidence other than anecdotal of a negligible sample size, let us know.
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Lol same, I get it that we’re a nation of savers rather than investors. I’m skewed towards investing by disposable income in stock market. Granted the FT should provide a source for the average even still tbh
The wording “Chase Saver Account” makes me think they are only counting people that actually made a savings pot/still have a savings pot and not all their customers which could tip the average quite a bit if a lot only use it as a purchase account.
Likewise I wonder if they are using the average balance for savings accounts instead of standard debit accounts or UK wide people with no savings accounts to help present everything with better numbers.
I just love how they were so well funded but have failed badly in the basics of reliability. Also wish their app was not so slow. Every action feels delayed because of the slow balance updates etc and having to force refresh a few times to get it to show. It just seems so legacy and amateur when it’s laggy like that.
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I couldn’t make out if it was Chase saying that or the FT.
On another note though; since when has “mn” been used for million? “2.3m customers” reads better than “2.3mn customers” to me.
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It’s 6 weeks since September 1st and I didn’t say they were leaving - just transferring their savings. Maybe the majority of Chase’s customers love them and are happy with lower interest rates, to keep all their accounts together. Plenty of Monzo customers appear to be happy to do that.
I’d like to see the current figures now that interest rates have risen well past Chase’s 1.5% (2.1% since yesterday).
Agree totally. I may be wrong but I think “bn” is used for billion hence their use of mn.
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Source: ONS data cited in a Moneyfarms article 01 Oct 2022: implies Chase has a lot of London customers + High Income customers + Older customers
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Figures cited are from September 28th business update. That’s all I’m going to say because logic and economics behind how AUA flows work mean there’s literally been an immaterial impact from any outage on Chase’s £10bn of deposits, especially given they’re raising rates next month to 2%. C’mon man
I’d have thought people with enough to heavily skew these numbers are smart enough/it’s worth it for them, to move elsewhere.
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The financial forums are full of people who’ve moved their savings from Chase savings to higher-interest accounts. The only problem with that is that financial forums are skewed towards people who actually care about these things. I expect that quite a few will stay with Chase out of loyalty, lack of awareness or just ‘cba’.
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