J.P. Morgan Chase UK has launched

The first international expansion out of the US for Chase was announced earlier this year when they confirmed they would be launching Chase in the UK.

Now Chase UK has launched its app on the Apple App Store and Google Play Store. Also, Chase’s website is now live with a waiting list for customers wanting to join the bank.

Chase UK will be offering new customers 1% cash back on debit card transactions for the first year and also a savings account with 5% interest, but the only catch is you cannot deposit yourself into the savings account.

Chase offers a round-up feature, for example, if you spend £1.10 the other 90p will be rounded up and sent to the 5% savings account. This is the only way to deposit to the savings account.

Other features Chase UK are offering:

• Ability to create up to 20 accounts with unique account details, designed for separating spending and saving.
• 24/7 customer service.
• Zero fees for withdrawing cash and spending abroad.
• Spending overview.
• Numberless debit card.

One feature which is different from most banks is the lack of numbers on the Chase UK debit card. The only way to see your card details are in the Chase UK app, and should you need to generate new card details you can do so in-app without having to get a replacement card.

Chase UK is expected to be soon sending access codes to customers on the waiting list and allowing them to sign up. It is worth noting that Chase UK does not support direct debits at launch, but will at a later date.

Written By

Jake Bywater