This already has it’s own thread - LHV UK Current Account - #153 by chistery
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Deleted.
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So, back to Chase.
If you were Chase now, you’d been in the UK market for a few years now, had a big splashy launch but now got that ‘difficult second album’ to produce, what area do you think they should focus on?
(this isn’t in anyway related to any hypothetical survey that may or may not have been sent out recently)
- Credit Cards - Balance Transfer, Rewards, 0% period, Credit Building cards, Travel Cards
- Loans - Personal Loans, Car Finance Loans, Mortgages
- Savings - instant access, ISA, fixed term
- Investments - Managed Investments (Nutmeg), Direct Investments (Revolut/Trading212)
- Insurance - Home, Pet, Travel
- Current Accounts - Joint Accounts, Children Accounts
Anyone with a Chase account that’s not using it as your main bank account - if they offered any of those, would it tempt you to switch?
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I still things loans are the next logical choice (edit: agree below re overdrafts and joint accounts too but as a whole new product type), but they’d also probably want to flesh out the credit card offering a bit too.
Mortgages I can’t see them ever doing.
They have current account, investments, credit card due.
Overdraft, joint accounts, and loans should be next, in that order.
Allowing Previous Customers To Rejoin.
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Does any of you still use Chase as their main account?
I would never switch as their app is crap.
But from a business perspective, I guess they’d want to go for what makes them money: overdrafts and loans.
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None of those would convince me to switch back. I was using Chase as my main account till they kneecapped the cashback but all I use it for now is the boosted savings account. They should work on improving their app (and adding a dark mode!) to start with.
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Don’t tell Chase, but I’ve never used it as my main account…
I still half suspect that they might pull the entire rug in the UK, if things aren’t going as well as they’d like.
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I quite like the Chase app, particularly over say Monzo.
If Chase offered overdrafts and the payment link allowing friends to pay me using Apple Pay (like Monzo/starling/revolut) I’d consider moving back to them.
At the moment, they offer me nothing more than NatWest, apart from a few pence when I go to Tesco.
As things stand I like the savings rate at the moment. I quite like the app interface, but what I really like is the ‘instant’ processing of transactions and the accompanying alerts. 99.9% of my interaction with Chase is trouble free.
I’ve been a Chase user since day 1 and was offered and took out the credit card when it was rolled out. Recently I have interacted with their CS and they just don’t read what you write and answer completely different questions. I had a complaint which they misunderstood so the training must be very poor and the expectation on their CS agents to answer questions and close complaints must be very pressurised. I think they need to introduce loans and overdrafts. This is the bread & butter of banking so they would be missing a trick to avoid this. Furthermore, the credit card is unremarkable so they need to introduce cashback or some extra value to increase demand and differentiate it from the many other CCs on offer.
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I really like how they handle payment notifications as well, particularly ‘XYZ has cancelled/released this hold’. I’ve never had a single card payment declined either when using in Europe/Asia. Even when I’m in the UK and have VPN’ed to get something cheaper paying in a local currency.
Ironically the only time I had a problem was when trying to pay for a food delivery in Tenby while on holiday and they didn’t accept card and I didn’t have cash, so had to pay by bank transfer. The payment for stuck ‘pending’ for hours.
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By coincidence they’ve just sent me a reminder about a payment I had scheduled for tomorrow. I had meant to cancel it, but had forgotten. With the reminder, I was able to cancel it immediately and stop it being debited.
My successful interaction rate is 99.9% because I rarely have any reason to actually contact Customer Support. If I did, I’m sure it would be much lower.
As said elsewhere, my experience with ANY customer support function is pretty dire, not just Chase. I either receive no response whatsoever, or the answer to a completely different question. Or I ask 3 questions, and they only answer one. The latter just appears to be a tactic to remove the issue from their outstanding workload, secure in the knowledge that the customer will never get to ‘speak’ to the same person ever again.
There is a school of thought that Gen Z are just not cut out for customer service. Because of cultural and educational changes, they find it very difficult to take ownership of a problem, and follow it through to a resolution. At the end of the day, they just don’t care about other peoples’ problems, only their own. Allegedly.
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Clearly moving towards a paid account - just got sent a survey that asked how interested I am in:
- Subsciption management
- Metal Card
- Travel insurance
- Prize draw to win prices
- Credit score monitoring
- 1% cashback
- Zero fees on overseas spend
- 3% interest on current account balance (up to £5000)
- Roundup with 5% AER on it
- Live customer support 8/8
- Open banking
- Currency specific current accounts
Some of these likely in free tier - wonder when announced?
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If they significantly improved offerings I’d have no issues using them as a main account.
I love these so yes please.
This would likely make me use them.
Hard NOPE. 24/7 expected at this stage. At the very least extended hours.
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Customer Support with human agents that have a brain, read the question, provide the answer and take ownership from beginning to end 24/7/365.
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To be fair they’ve been sending out these types of surveys since they started, they don’t typically act on the results.
I think it’s a quanty making themselves useful rather than actually testing the waters for product roadmaps.
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And market research is tax deductible