Chase UK

Who they are

Chase entered the UK retail banking market in September 2021, launching an app-based current account under the Chase brand. It marked JPMorgan's first overseas retail banking operation in its 222-year history. The backing matters: this is not a startup looking for venture funding - it is the consumer arm of one of the world's largest banks, and that gives Chase a financial staying power that few digital rivals can match.

Chase operates as a division of J.P. Morgan Europe Limited, and as of December 2025 it reported more than 2.5 million customers and deposits exceeding £26 billion. The account is app-only - there are no branches - but it is headquartered in London with a contact centre in Edinburgh. A savings account followed in March 2022, and a credit card launched in November 2024.

Savings accounts

Chase currently offers two savings products worth knowing about.

The Chase Saver is an easy-access account paying 4.50% AER variable. That headline rate is made up of a 2.25% base rate plus a 2.25% boost that runs for 12 months, so it is a new-customer offer rather than a permanent rate. The minimum balance is just £1, and FSCS protection covers up to £120,000 - though that limit is shared across all accounts you hold under J.P. Morgan Europe Limited's licence, so keep that in mind if you hold other Chase products.

The Regular Saver is a newer addition, launched in September 2026. It pays 6.50% AER fixed for 12 months on up to £300 a month. You can withdraw at any time without penalty, interest is paid monthly rather than as a lump sum at the end, and there is no set minimum monthly deposit - Chase sets a ceiling, not a floor. To open either savings account you need a Chase current account, which is free and has no minimum monthly pay-in, so the bar to qualify is lower than at most banks. One Regular Saver per customer.

Bear in mind how regular saver maths works: your first £300 earns interest for 12 months, your last £300 for one month, so the average pot across the year is well under £2,000. Max it out every month and you would earn around £125.53 in interest on £3,600 paid in - a real and useful return, just not 6.5% of the total deposited.

Is it right for you?

Chase suits individual savers who want simplicity and competitive rates without juggling multiple conditions. The Saver's 12-month boost is strong for easy access, and the Regular Saver adds a fixed-rate option for anyone who can commit £300 a month and wants penalty-free flexibility alongside it.

The main limitations are worth being honest about. Chase does not accept cash or cheque deposits, has no joint accounts, and no overdraft. If you need those things, you will want a second bank alongside it. The Saver's base rate of 2.25% is also a reminder that once the 12-month boost ends, the underlying rate is unexceptional - worth diarising so you can compare alternatives at the time.

As ever, the rates shown live on this page are the ones to check before you apply - they can and do change.