I think that Monzo and Starling have kinda found the opposite. Because they’re so easy to open and use, loads of folk have used them for CASS donor accounts - which costs both the new and old banks money. So instead they make it harder to reopen once you’ve moved away.
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Looking at the CASS it does seem that the millions of people do not change their accounts. And there is a small pool of switcher savu people that churn accounts like butter.
Hence stopping account reopen seems to be a good anti Cass churn move. Obviously people do loose out who are the target demographic of only having one account, and choosing to move it.
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Sad that the mini product roadmap post from chase did not have anything about open banking.
Of anything chase is a big legacy bank. And imho should be subject to big bank requirements.
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I heard no matter what they have to comply by May as per the rules but that was a while ago. I would expect them to get it out the door before then as it will take a while for 3rd parties to add support. I just hope they dont pull a Starling and have a different api from everyone else.
Hahaha Paul I saw this on Insta and replied too.
“They shouldn’t have left in the first place 
” haha
We are so naughty 
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Noticed today that Nutmeg and Chase accounts can now be linked, to show the Nutmeg balances in your Save & Invest tab
Still kicks you back out to the Nutmeg app to manage the account though
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Pretty cool.
The second iteration will be a lot better:
Plus, over time, you’ll be able to pay directly from your Chase current and saver accounts into your Nutmeg pots.
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Looks like its here
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Can’t wait for credit to come, wondering what the cashback might be like
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Anyone having blips right now? 19:40
I am getting errors retrieving my account messages at the bottom of the app and a steam purchase is stuck pending (steam says its pending/stuck) but doesn’t show up in Chase.
To be honest no, they didnt when they had the mega outage before, people here were reporting it ages before chase mentioned anything.
My transaction has finally gone through after 3 attempts, it may have been a blip on steam but the app errors were occuring as well and the 3d auth page was very very slow on steam.
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Yeah I initially would have thought it was Steam but then as I said I was getting repeated errors in the app at the same time, which is why I posted as that was then 2 separate areas.
It could just have been a chase blip, it happens with all banks. The 3d auth page was also really slow which is hosted outwith steam as well.
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So, it’s been 18 months (ish) since Chase actually launched, they’re be improvements to the account, there’s been outages, there’s been disappointments, there’s been surprises.
Now that we know what the next 12 months of Rewards for the Current Account are going to be, and also some more of their roadmap of things to be launched, what’s your current usage and plans for Chase?
- It’s my main account
- I’m using it, it’s not my main account but would consider switching now
- I’m using it, it’s not my main account and would NOT consider switching
- My Chase account is dormant
- I’ve closed my Chase account
- I’ve never had one but might consider opening one now
- I’ve never had one and wont be considering opening one.
0 voters
For clarification - the option ‘it’s not my main account but would consider switching’ is ‘switching to Chase’ (can’t edit the poll)
(it’ll be really handy in the Monzo forums if there was an easy way to see what previous polls had been done in a topic - I’m sure there was one done last summer when the initial Cashback offer was coming to an end but couldn’t find it again).
When you say “would consider switching” do you mean switching to Chase?
Yes - stuck a clarification statement after the poll about that now (can’t edit the poll itself after people have started voting!)
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Really for me the only positive thing with it is the cash back and interest rate.
Nearly everything else I find worse or am indifferent about. The pot 5% has been mostly worthless even though I haven rinsed a lot through them. They have been trying though which is nice and it will be interesting to see where they catch up though.
Poorer (not exhaustive):
- budgeting - really bad and they don’t even have the basic excluded category so the little graphs it has are trashed because of me transferring money out.
- UI - I just find it pretty weak, it’s not the worst but it’s not a positive for me.
- Downtime - yeah there is that although it has been better other than the odd blip. Hopefully it will continue. I regularity get errors in the app but a restart usually kicks it
- Virtual cards - I use these so not having it is a barrier.
- Bill pots - as above with virtual cards
- Open banking - although they legally have to get that sorted soon, and are working on it
- Ethics - I mean JP Morgan Chase have terrible ethics, they don’t barely try imo. It’s less of an issue for me but it still leaves a bad taste. No one can claim they are a ethnically decent brand, it’s always a race to the bottom of “oh there is worse out there”
- Forum - yeah it’s trash panda but not a big big deal
- Support - this is personal but the only time I have tried the support it was poor and they would remove the limits to let me transfer money out to my own account. To be fair I should have faux outage more to escalate but I shouldn’t have needed to.
Obviously people will disagree and this list is just the stuff I would like improved for myself going forward.
As I said they have been trying at lest as well but I don’t see them becoming my bank in the near term (6 months - year) or if I will keep using the cashback.
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I tend to agree with some of those - others are person taste though.
The UI - I tend to find the (new) Chase UI better than Monzo, for example, as I think the Monzo UI is incredibly cluttered now. But then my favourite is Starling (and I actually like the big pie chart which I know a lot of people hate).
For virtual cards - Chase seemed to try and reinvite the wheel with that and came up with the ‘you have one payment card that you change where you spend it from’ concept. Interesting idea - but I don’t think it works and hopefully they might offer ‘standard’ virtual cards in the future as well.
Bill pots - I think their setup with multiple accounts (with their own unique account details) is better than Monzo bill pots.
The Forum isn’t even something I’d consider when deciding on a bank. Other than Monzo and Chase do any other banks have a community forum at all?
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Its like they saw curve and thought that it was a good idea where people have to open an app to pick where they want to pay from, which to me was the biggest PITA with curve.
The account functionality personally makes no difference to me, bill pots usefulness for me is the whole salary sorter and virtual card being linked to it, Monzo actually makes it easier to change around as I just change settings to move DD to different pots (they need to do the same with VC cards as well tbh) where as chase would require me to change details for the direct debits which can take a while and hassle.
It would actually be a total pita if I wanted to move things around thinking about it, I actually much prefer the monzo approach. The account approach chase has to me has only one benefit, you can transfer money in from a 3rd party bank easily but for me thats a very minor thing and if I was using chase as my “get paid into” account it wouldnt even be a factor.
I mean its an extra I like, because no others do it the others lose a point albeit only a minor point. Chases one though is so poor it doesnt get the minor point, if you do something do it well.
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I’ve voted “it’s my main account” based on my personal definition; this being the account I’m actually an active user of (most). I use Chase’s Current Account for all my spending and I use the Chase Savings Accounts.
My Salary still goes into my legacy RBS account and I don’t see this changing for the foreseeable future.
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Chase offers nothing I find of value really.
The problems might be better now but it’s still a concern.
If/when they sign up to CASS I’ll probably make an account to switch, just to have a look at it.
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