About This Offer
Chase does not currently offer a classic one-off switching bonus. The value here comes from ongoing use: 1% cashback on selected essential spending categories for your first year, with a maximum of £15 per month.
Why Chase?
Chase entered the UK market in 2021 and has quickly become one of the most popular current accounts. Highlights:
- 1% cashback on groceries, everyday transport, fuel and electric charging points
- Monthly cap - up to £15 per month, so up to roughly £180 across a full year
- Easy-access savings - Chase is still promoting linked savings products, but rates can change
- Fee-free spending abroad - no foreign transaction fees
- Easy-to-use app - one of the best-rated banking apps in the UK
- No monthly fees - completely free to run
- No minimum pay-in - no hoops to jump through
Is It Worth It?
Chase is best if you plan to use it as a real everyday account. If your grocery, transport, and fuel spending is high enough, the cashback can still add up nicely, but it is not the same as a fast £150 to £400 switching bonus elsewhere.
If you are optimising for quick cash, this is weaker than Barclays, Lloyds, NatWest, Santander, or first direct. If you want an account you may genuinely keep, Chase looks stronger.
Important Notes
- There is no one-off cash switching bonus - the value comes from ongoing cashback and savings interest
- The 1% cashback lasts for 12 months from account opening
- Eligible cashback categories are not all card spending
- Chase currently shows a £15 monthly cashback cap
- You must be 18+ and a UK resident
- Any savings rate you see is variable and can change
- Chase works well as a permanent everyday account to keep while you switch other accounts for bonuses