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Trying to open a Chase account? There's an up to five-week delay due to high demand - here's what you need to know
App-only bank Chase has admitted there are delays of up to five weeks for new customers attempting to open a current account due to high demand. It comes after Chase launched its easy-access savings account - with a then market-leading rate of 1.5% - in March. Here's what you need to know.
Update: 30 June 2022: Chase's 'waiting room' has closed meaning applications put on hold can now proceed as normal. Those who were in the waiting room should have received a text message or notification from Chase to let them know. You'll now need to go into the Chase app to submit further details and verify your identity.
We're checking if new applications can also go ahead as normal and we will update this story when we know more.
Chase, which is owned by JPMorgan, launched the savings account earlier this year. It is only available to existing Chase current account holders and those who sign up for a new current account – you can only open a 'saver account' if you have a current account with Chase.
The bank's current account comes with cashback of 1% on debit card spending for the first 12 months and customers can deposit up to £250,000.
Since the launch, the bank said 100,000s of new customers have opened a current account but that due to high demand it has now been forced to open a "waiting room" for new customers looking to join.
See our Top Savings Accounts guide for more on the best savings accounts and rates.
If you applied from the evening of 25 May, your application will be held in the 'waiting room'
How to open the Chase savings account
To open a savings account with Chase, which pays 1.5%, you must already have a Chase current account.
If you don't yet have a Chase current account, you can open one by downloading the free Chase app and following the sign-up instructions – there's no monthly fee attached to the account.
To open your saver account, open the Chase app, tap the 'add' button and follow the instructions.
Should you need any help you can contact Chase via the app, by phoning 0800 376 3333 or by emailing ChaseSupportUK@chase.com.
You can, however, currently earn a higher 1.56% on up to 25,000 easy-access with Virgin Money's linked current account saver - see our Top Savings guide for more info.
What does Chase say?
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