Chase UK

What Chase UK does

Chase UK is a mobile-first digital bank operating exclusively in the United Kingdom as a trading name of J.P. Morgan Europe Limited, a subsidiary of JPMorgan Chase & Co. The bank delivers current accounts, savings products, a credit card, and integrated investment services (via J.P. Morgan Personal Investing) through a single iOS/Android application, targeting UK residents aged 18+ who want fee-free, reward-led retail banking. Eligibility requires a smartphone, a UK mobile number, and UK tax residency; deposits are FSCS-protected up to £120,000, and the entity is dual-regulated by the FCA and PRA (Financial Services Register 124579).

The platform is cloud-native with real-time transaction processing and integrates with J.P. Morgan's backend systems, supporting Apple Pay, Google Pay, and PayPal. The product suite includes a free Current Account (2% cashback capped at £20/month on eligible spending categories), up to 10 Saver Accounts (interest paid monthly, maximum balance £3m across savers) including a Round-up Account earning 5% AER, and a Mastercard credit card with 0% promotional APR and Section 75 consumer protection on £100-£30,000 purchases. Multi-account management (up to 20 unique accounts from one card) and a "numberless card" differentiate on security and configurability.

The business model is fee-free to consumers; revenue is generated from Mastercard interchange on debit and credit card transactions, interest and fees on revolving credit balances, and net interest spread between the 5% AER paid to depositors and returns earned on the deposit book. Customer acquisition is product-led via app store downloads, the Current Account Switch Service (CASS), and a Refer a Friend programme, with brand authority reinforced by three consecutive Best British Bank awards (2023-2025) and a Which? recommendation in November 2025. Customer base is described as "millions" of UK individual consumers; no enterprise or SMB dependency exists.

Name

Chase UK

Legal name

J.P. Morgan Europe Limited

Website

https://chase.co.uk

Company type

Private

Founded year

2018

Operating status

Operating

Short description

Chase UK is a mobile-first digital bank operating in the United Kingdom as a trading name of J.P. Morgan Europe Limited, offering fee-free current accounts, savings products, a credit card, and integrated J.P. Morgan Personal Investing services to millions of UK individual consumers through a single iOS/Android app.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (522110), Credit Card Issuing (52221), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), Personal Credit Institutions (6141)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Retail banking
• Digital banking
• Mobile banking
• Consumer finance
• Current accounts

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Credit Card Interest and Fees: Chase offers credit cards with promotional 0% APR purchase rates and standard interest on balances. Late payment fees of £12 apply. Revenue generated from interest on revolving credit balances and interchange fees on transactions.
2. Interchange Fees: Revenue from Mastercard interchange fees on debit and credit card transactions processed through the Chase platform, both domestic and international
3. Savings Float: Interest spread earned on customer deposits held in saver accounts, with Chase paying depositors 5% AER on round-up accounts while earning higher rates on bulk deposits

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Chase UK is a mobile-only retail bank (trading name of J.P. Morgan Europe Limited) offering a free current account with 2% cashback on everyday spending up to £20/month, goal-based saver accounts with a 5% AER round-up option, a fee-free Mastercard credit card with promotional 0% APR, and integrated access to J.P. Morgan Personal Investing. All services are accessed exclusively through the Chase iOS/Android app, with no physical branches, and the bank monetises through credit card interest, interchange fees, and the interest spread on deposits.

Product overview

Chase UK is a digital bank (trading name of J.P. Morgan Europe Limited) offering a mobile-first banking platform built around its free Chase Current Account as the core product. The product suite includes the Chase Saver Account for goal-based savings, a Round-up Account for automated micro-savings with 5% AER interest, and the Chase Credit Card accepted on the Mastercard network with 2% cashback. An integrated J.P. Morgan Personal Investing module enables investment management within the app. A Refer a Friend programme provides customer referral rewards. All products are accessible through the Chase mobile app, with the core current account serving as the hub that links all other accounts and services.

Differentiator

Problem solved

Functional benefit

Products and services

• Chase Current Account A free UK current account accessible via the Chase mobile app for UK residents aged 18+. Offers 2% cashback on everyday debit and credit card spending (groceries, restaurants, takeaways, cafes, everyday transport, fuel, EV charging), capped at £20/month, when customers deposit £1,000+ across savers and make 15+ payments per month. Features a numberless debit card, real-time spending insights, 24/7 support, no fees for overseas spending or withdrawals abroad, and FSCS protection up to £120,000.
• Chase Saver Account An easy-access savings account linked to the Chase current account, allowing customers to set savings goals, track progress in the app, and start saving with as little as they like. Interest is calculated daily and paid monthly. Customers can open up to 10 saver accounts with a maximum combined balance of £3m.
• Round-up Account A specialised savings feature linked to the Chase current account that automatically rounds up each debit card transaction to the nearest pound and deposits the rounded-up difference into a savings pot earning 5% AER (4.89% gross) variable interest, paid monthly.
• Chase Credit Card A fee-free Mastercard credit card accepted wherever Mastercard is taken, with no annual fee and no overseas spending fees. Features 2% cashback on eligible purchases, credit management tools, Section 75 consumer protection on purchases between £100 and £30,000, and promotional 0% APR purchase rates. A £12 late payment fee applies to late payments.
• J.P. Morgan Personal Investing An investment platform integrated within the Chase app and provided by J.P. Morgan Personal Investing (a J.P. Morgan company). Enables customers to manage investments including stocks, shares, ISAs, and funds, supported by J.P. Morgan experts, all accessible from within the Chase app. Capital is at risk; investment products are not guaranteed by Chase or JPMorgan Chase Bank N.A.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature4 records

Partnerships

Two partnerships are on record, tiered minor.

• SignVideominorOthersPartnership with SignVideo to provide British Sign Language (BSL) interpreter services for deaf and hard-of-hearing customers. Customers can connect with Chase support via a BSL interpreter through the SignVideo service.
• Relay UKminorOthersPartnership with BT's Relay UK service enabling deaf, hard of hearing, or speech-impaired customers to call Chase via text relay. Customers dial 18001-08082341115 from a textphone.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Wise: UK-headquartered cross-border payments and multi-currency account platform that has expanded into consumer accounts, savings, and investments. Comparable to Chase UK as a UK-based digital-first consumer financial-services platform with strong app engagement, though differentiated by cross-border focus.
• Atom Bank: UK digital-only challenger bank focused on savings accounts and residential mortgages via mobile app. Comparable to Chase UK as a UK digital-first consumer bank, though narrower product suite (no full current account suite) and smaller scale.

Direct peers

• Starling Bank: UK digital-only challenger bank offering personal and business current accounts, savings, and lending. Directly comparable to Chase UK in product breadth, mobile-first distribution, and UK mass-market consumer banking focus.
• Revolut: UK-headquartered digital financial super-app offering current accounts, FX, savings, investments, and crypto to tens of millions of users globally. Directly comparable to Chase UK as a mobile-first consumer banking platform with strong cashback/rewards and FX-free propositions, though broader geographically.
• Monzo: UK-headquartered digital-only challenger bank offering current accounts, savings, lending, and investments via a mobile app. Directly comparable to Chase UK as one of the leading app-first mass-market UK retail banks targeting similar consumer segments with cashback/rewards-led acquisition.

Broad incumbents

• NatWest Group: UK incumbent retail and commercial bank (formerly Royal Bank of Scotland) offering current accounts, mortgages, credit cards, and investments. Comparable to Chase UK as a UK mass-market consumer banking competitor with established branch network and broader product set.
• Barclays: Major UK incumbent retail and commercial bank with full-service current accounts, mortgages, credit cards, and investments. Comparable to Chase UK as a UK mass-market consumer banking competitor with established scale and product breadth.
• Santander UK: UK subsidiary of Banco Santander offering current accounts, savings, mortgages, credit cards, and investments. Comparable to Chase UK as a UK mass-market consumer banking competitor with full product suite and high-street presence.
• Lloyds Bank: UK's largest retail bank by current accounts, offering full-service banking including mortgages, savings, credit cards, and investments. Comparable to Chase UK as a UK mass-market consumer banking competitor with very large incumbent scale.
• HSBC UK: One of the UK's largest incumbent retail banks offering current accounts, mortgages, credit cards, investments, and wealth management. Comparable to Chase UK as a UK mass-market consumer banking competitor, but with full-service branches, joint accounts, mortgages, and a much broader product suite.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/chase_uk
• YouTubeyoutube.com/channel/UCdzldf9mVBHWtewkFaRf5Bg
• Facebookfacebook.com/chaseuk
• LinkedInlinkedin.com/company/chase
• Instagraminstagram.com/chase_uk

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Chase UK