Chase arrives in the UK to offer a rewarding banking experience

By Joy Dumasia

JPMorgan Chase launched its new digital bank in the U.K. under the Chase brand. Chase is the largest consumer bank in the United States and provides a broad range of financial services to more than 60 million American households.

New customers can sign up at chase.co.uk, after which they will be invited to download the Chase app. Customers can open a current account in minutes via the simple and intuitive app. The account offers a range of features to help people budget, manage money, spend and save. A U.K led customer support team will be a key part of the Chase banking experience.

The Chase current account will launch a rewards programme offering 1% cashback on all eligible debit cards spent for 12 months. This has been developed in line with U.K. consumer debit card spending habits to ensure all customers can benefit from rewards on many of the things they already buy every day, including but not limited to groceries, travel, meals, entertainment, fashion, homewares, electronics, as well as flights and holidays.

Sanoke Viswanathan, CEO of the bank, said: “We’re offering people in the U.K. 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. Having spoken extensively to consumers across the U.K., we know that people want good value combined with an excellent experience from a trusted bank. With cashback on everyday debit card spend and an interest boost on round-ups, we can help customers save while they spend on items they already buy every day.”

There will be no fees to open the Chase current account and start earning cash back rewards. Customers will receive the cashback rewards without switching their banking provider, committing to a minimum account balance, or setting up direct debits. The 1% cashback is payable when customers use their debit card in person or online and is offered at retailers at home and abroad.