Chase restricts cashback in blow for current account customers

Chase Bank is set to revamp its cashback deal for current account customers starting April 7, limiting cashback to 1% on spending in specific categories like groceries, transport, and fuel within the UK. This change follows previous adjustments to the account, including a cap on cashback and a minimum monthly contribution increase. Despite these changes, Chase emphasizes that its cashback offer remains competitive, with no monthly fee and a straightforward way to earn up to £15 cashback a month. Customers may want to consider alternative current accounts such as Santander Edge for higher cashback rates, though Chase still offers competitive returns with additional money management features and a 3% interest rate on the Chase Saver account.

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