Chase Current Account Review (2026): And £50 Referral Code
Are you fed up with your bank giving you nothing in return? No interest, no perks, and fees for the privilege? Chase is one of the few UK current accounts that still offers something useful, but it’s not perfect.
I’ve been using Chase for a while now, and this is my straight-up, no-nonsense Chase current account review for 2026. Here’s what you actually get, what’s changed, and whether it’s still worth opening.
Chase UK review
A strong fee-free current account with genuinely useful features. Earn cashback on debit card spending, spend abroad with no fees, and pair it with a competitive savings account — all without a monthly charge.
Pros
- Earn 2% cashback on debit card spending
- No fees when using the card abroad
- Round-up feature with competitive interest
- Easily manage money with separate ‘pots’
Cons
- Cashback is limited to £20 per month, only on certain categories
- No overdraft facility offered
- Not part of the Current Account Switch Service
- No interest paid on current account balance
£50 available to new customers. Jump to available Chase referral codes.
Reviewed by Household Money SavingChase current account at a glance
Feature | Details |
|---|---|
Monthly fee | £0 |
Cashback | 2% on eligible UK spending (capped at £20/month) |
Cashback requirement | £1,000 kept in savings account. 15 debit card spends monthly |
Savings rate | 4.5% AER boosted saver (12 months, new customers) |
Round-up interest | 5% AER |
Interest on current account | None |
Overdraft | ❌ Not available |
Fees abroad | None (Mastercard rate) |
Switch service | ✅ Full CASS supported |
FSCS protection | Up to £120,000 |
What is Chase Bank UK?
Chase is the UK digital banking arm of JPMorgan Chase, one of the largest banks in the world. In the US, Chase is a household name with over 56 million digital customers. In the UK, it operates as a mobile-only bank focused on simple products, competitive savings rates, and low fees.
Despite being relatively new to the UK market, it’s backed by a banking giant with serious financial strength.
Fancy making a bit more from the banks? Take a look at the best bank switching offers
Also worth reading
Fancy making a bit more from the banks? Take a look at the best bank switching offers
Is Chase safe?
Yes. Chase is fully UK-regulated and your money is protected up to £85,000 under the Financial Services Compensation Scheme (FSCS).
The debit card is numberless, so your details aren’t printed on it. Card numbers, expiry date and CVV are accessed securely in the app. Almost all online payments require in-app approval, which is great for security, even if it can feel a bit clunky at times.
What are the benefits?
2% cashback on debit card spending
Chase’s “Everyday Cashback” pays 2% on eligible UK spending, capped at £20 per month (£200 per year).
Cashback is available on certain categories, such as supermarkets, travel and takeaway.
To qualify, you must keep £1,000 in your Chase savings account and use your debit card at least 15 times each month.
4.5% AER boosted saver
New customers can open a boosted saver within 31 days of joining. This pays 4.5% AER (variable) for 12 months, made up of Chase’s standard rate plus a temporary boost.
For an easy-access savings account from a major bank, this remains one of the best rates available in early 2026.
I managed to extend by boosted saver for several years, but they stopped offering it to me in 2025.
5% interest on round-ups
Chase rounds your spending up to the nearest £1 and moves the change into a separate pot earning 5% AER.
Once a year, the balance is swept into your main account and the round-ups reset. It’s a genuinely painless way to save without thinking about it.
Spending abroad with Chase
Chase remains one of the best current accounts for travelling.
There are no fees for card spending or ATM withdrawals abroad, and you get the Mastercard exchange rate. The only charges you might see are from local ATM operators, which Chase doesn’t control.
Or why not check out my post on the best debit cards to use abroad?
Downsides you should know about
The biggest drawback is the lack of an overdraft. If there isn’t enough money in your account, the payment is declined. That’s fine if you’re organised, but there’s no safety net.
Online shopping can also feel fiddly because the card is numberless. You’ll often need to switch between apps to copy details and approve payments.
The cashback sounds good, but it’s a little limited. For many of the categories, you can use gift cards instead and earn more. For example, I can buy gift cards for Sainsbury’s and earn between 3% and 4% cashback. Check out my page on the best sites to buy discounted gift cards.
Chase Referral codes
Chase is currently offering a £50 bonus (only available to new customers – you must never have held an account before).
To qualify, you must:
- Download the Chase UK app
- Open a current account
- Enter a referral code in the app
- Pay in at least £1,000 within 30 days
- Receive £50 once the requirements are met
The £1,000 doesn’t need to stay there. You can move it back out once it lands. And no need to switch accounts.
Sorry, all my codes have been used now. I recommend heading to Reddit, where plenty of members will have active codes.
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Is the Chase current account worth it in 2026?
Yes, but it works best as a secondary current account, not your only one.
The casback rate is decent, but it’s only available on limited categories and it means placing £1,000 in a savings account which doesn’t have the best interest rate.
Add the boosted saver and round-ups, and Chase still offers more than most free UK current accounts.
Just don’t expect it to replace a traditional bank if you rely on overdrafts or branch access.
For me, I’m sticking with Santander Edge for cashback from my direct debits and a better savings account.
Further reading
As I said above, Chase works well as a secondary account. Take a look at the benefits of holding multiple current accounts and which ones I have.
Chase current account FAQs
Is the Chase current account free?
Yes. There is no monthly fee and no minimum balance requirement.
How does Chase cashback work?
You earn 2% cashback on eligible UK spending, capped at £20 per month. You must keep £1,000 in a Chase savings account and make 15 purchases each month with your debit card.
Does Chase offer an overdraft?
No. Chase does not offer an overdraft. Payments are declined if you don’t have enough funds.
Is Chase good for spending abroad?
Yes. Chase charges no fees for card spending or ATM withdrawals abroad and uses the Mastercard exchange rate.
Does Chase pay interest on the current account balance?
No interest is paid on the current account itself, but savings pots and round-ups earn interest.
Is Chase Bank UK safe?
Yes. Chase is UK-regulated and deposits are protected up to £120,000 by the FSCS.
Thought this looked like an attractive offer, but no joint accounts and no access to the current account switching service (have to move all direct debits by hand contacting every company, nightmare).
Hi John. A good point about the switching service. I shall add that.
Comparing the 1.5% on the savings account with a stocks & shares ISA is misleading. They are not comparable!
I disagree Roger. If somebody is thinking about opening a Chase account because of the savings rates on offer, I think it’s important that people realise there are other options out there.
After the first year is up, if you close your account, how long is it until Chase Bank consider you to be a “New Customer” again so you can get the 1% cashback again?
Hi Michael, a good question. I checked the T&Cs and there wasn’t any mention of this. So, I spoke to somebody on live chat who seemed a little unsure. However, they did reply with this:
Thank you for patiently waiting Peter. Upon checking, is it not advisable to close your Chase account and reopen a new one to enroll for the cashback campaign as it may take some time for us to process another application of your account opening. The best advise I can give is to enjoy your current Cashback as of the moment and take note that we have a lots of exciting features that will surely make you enjoy more Chase including Cashback offers. We will make sure to keep you updated when we give our announcement of the full disclosure of information so watch out with our social media accounts and websites. I hope this helps.
That says to me that there’s nothing from stopping you closing your old Chase account and opening a new one.