Chase Debit Card

[securespark]

Thinking of getting one for holiday.

Anybody got one?

Any good?

Do you need to make regular payments in to the account?

 

[Mottie]

Thinking of getting one for holiday.

Anybody got one?

Any good?

Do you need to make regular payments in to the account?

I've got one. Haven't used it abroad yet but supposed to be one of the good ones for use abroad. You get near perfect bank exchange rates and 1% cashback for the first year too. I only took it out to open their savings account that pays 1.5% that I put my premium bond money in when I cashed in ( have since moved it all to a higher paying bond). I use Monzo when I’ve been abroad. Both work the same way - like any debit card, you need to have money in the account. You don’t have to make regular payments in to either - as long as there’s money in them, the account remains active. Probably remains active with nothing in them too.

Oh, I did the same for Mrs Mottie when she cashed her premium bonds in. As soon as she put £20 in it we both got a £20 bonus but I think that’s stopped now.

 

[cdbe]

I've got one - for the instant access 1.5% savings and the 1% cashback. No regular payments needed, you just need to keep topping up the balance (I do from the savings part, takes seconds using the phone app).

My sister used abroad for spending with no issues but couldn't find a cash machine that would let her withdraw without charging a fee. This was in Spain where you can withdraw free at their Santander branches with your UK debit card.

Presumably you know to always pay in local currency.

The Chase has this thing called "round up" where it rounds up all spending to the next pound and puts it in a pot and pays 5% interest - you'll spend all your time adding up your shopping and trying to put £20.01 petrol in your car.

Only annoyance is that there's no numbers on the card (they're available on the mobile app) a silly gimmick when you're trying to pay by card over the phone.

 

[securespark]

Au contraire, I think it's a safer having no numbers on the card.

 

[ajohn]

Has anybody tried using it in the UK. Buying, withdrawing cash if needed?

 

[Mottie]

Has anybody tried using it in the UK. Buying, withdrawing cash if needed?

Not actually used the card anywhere. Then again I don’t use any of my cards as they are all loaded onto my phone. Works okay through Applepay though and I’ve probably made a dozen or so payments on it so far. Can’t see how there would be any problem withdrawing cash as long as there’s cash in the account.

 

[ajohn]

I don’t use any of my cards as they are all loaded onto my phone

LOL I am a bit of a ludite so phone doesn't figure. I don't have most peoples need for one so use cards in the usual way. They take up less space in my pocket too.

 

[Mottie]

LOL I am a bit of a ludite so phone doesn't figure. I don't have most peoples need for one so use cards in the usual way. They take up less space in my pocket too.

Ah right. I don’t carry cards or a wallet unless I’m on holiday. A few notes and my phone only. Mrs Mottie had her purse nicked once with about 5 cards and they took a fair few quid off of us (all returned eventually). Couldn’t have done that with a phone.

 

[conny]

Ah right. I don’t carry cards or a wallet unless I’m on holiday. A few notes and my phone only. Mrs Mottie had her purse nicked once with about 5 cards and they took a fair few quid off of us (all returned eventually). Couldn’t have done that with a phone.

But with a phone they could strip you of everything if they manage to get into your app very quickly. It's much easier to transfer larger amounts to another account quickly because they will send you a OTP which you simply tap in to show 'you' have your phone with you and the job is done. Happened to a mate a few years ago who 'virtually' ran his life from his phone including his business.

 

[ajohn]

Cards can have a problem. I had one copied while paying for something. I had a phone call from the bank at work asking of i had bought petrol the day before. Odd thing to ask. I just did it when needed so replied can't recollect doing that. Then she said 6 time - no. Also several shopping trolleys of supermarket stuff and finally a holiday in Spain and a book to read on the way. That gives them more days of use before the card is blocked.

My acoount was frozen. Problem as going on holiday a couple of days later so had to go and draw £1000 out of a savings account and stuff it in the cars glove box. All sorted and refunded fairly quickly. I told them how I spotted my petrol purchase and it seems they made a note. Later talking to them a women laughed and said they had added a note about petrol purchases - must have bought a VW so had to change what I usually do. Perfectly correct I did have to change, They fill more accurately so couldn't add so much more when the pump cuts off.

 

[Mottie]

But with a phone they could strip you of everything if they manage to get into your app very quickly. It's much easier to transfer larger amounts to another account quickly because they will send you a OTP which you simply tap in to show 'you' have your phone with you and the job is done. Happened to a mate a few years ago who 'virtually' ran his life from his phone including his business.

Will only work if they have my face, fingerprint
Or password.

 

[conny]

Face and fingerprint matching was in it's infancy when he lost his lot. Used a 6 digit pin to get in but somehow they managed it and cleaned him out. Eventually got it sorted but in the meantime it cost him a great deal of stress because he had put so much of his life on there.

 

[Harry Bloomfield]

I only took it out to open their savings account that pays 1.5% that I put my premium bond money in when I cashed in ( have since moved it all to a higher paying bond).

The way I read it, the only way to put money in the savings account, was via the difference between an amount you paid out and the next whole pound. If you bought an item at £13.67, then you could opt for the difference between that amount and £14.00 - 33p to go in the savings account. Is that not how it works?

 

[Mottie]

The way I read it, the only way to put money in the savings account, was via the difference between an amount you paid out and the next whole pound. If you bought an item at £13.67, then you could opt for the difference between that amount and £14.00 - 33p to go in the savings account. Is that not how it works?

No. You have a standard account and a savings account. The savings account pays 1.5% interest. They are both accounts in their own right. You pay in to the standard account and move it to the savings account and you can move it back whenever you want with no penalty as it’s an instant access account.

What you are thinking of is something they call 'round up'. If you elect to have that applied to your standard account, every purchase you make on the debit card is 'rounded up' to the next pound and the difference is put into your 'round up' account which gets 5% interest added to it at the end of the year. So if you spent £60.01 (which coincidentally I spent tonight on fuel) and paid for it on your Chase debit card, it would be rounded up to £61.00 and the 99p would go into my 'round up' account. I CBA with that so I don’t subscribe to it.

 

[Harry Bloomfield]

No. You have a standard account and a savings account. The savings account pays 1.5% interest. They are both accounts in their own right. You pay in to the standard account and move it to the savings account and you can move it back whenever you want with no penalty as it’s an instant access account.

Are the two accounts attached, as in when you apply for opening one, it opens the other along with it? Or is it three accounts?

I began opening an account with them, but let it expire when someone said you only get interest on the extra account and the only way to put money in that account was using the roundup option.