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Chase UK triples customer numbers YoY

Chase UK triples customer numbers YoY

Twenty months since its launch in September 2021, more than 1.6 million customers now bank with Chase in the UK.

Customer numbers have tripled since May last year and deposits have nearly doubled from $10 billion to $19 billion during the same timeframe. The digital bank is now processing more than one million transactions per day.

Chase is winning over customers through a slick digital experience and high standards of customer care. It recently won accolades as best British bank, current account and savings account at the 2023 British Bank Awards. It has an App Store rating of 4.9, Google Play Store rating of 4.7, and a Trustpilot score of 4.1. In January, MoneySavingExpert readers rated Chase number one in customer service.

From February, customers of Chase and wealth management subsidiary Nutmeg have been able to see their investment accounts in the Chase app, or new Nutmeg customers have been able to sign up to invest with Nutmeg via the Chase app.

Chase has also introduced a one percent interest rate on money held in current accounts, alongside a 3.3% AER interest on easy-access savings, and one percent cashback reward on debit card spending.

Sanjiv Somani, UK CEO for Chase and Nutmeg, says: “We’re pleased that consumers have responded so positively to our offer and are increasingly using Chase for a broader range of their banking needs. Our intention is to offer a full suite of banking products over time - including fully integrating the Nutmeg investment products into the Chase app - creating a one-stop-shop for customers to spend, save, invest, or borrow, with Chase.”

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