Chase UK
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.
- Company typePrivate
- Founded2018
- HeadquartersLondon, United Kingdom
- Headcount—
- GTM typeB2C
- OfferingServices
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.
Chase UK firmographics
Firmographics- 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
Chase UK industry classification
Industry- 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
Where Chase UK is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
Chase UK business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- 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.
- Interchange Fees: Revenue from Mastercard interchange fees on debit and credit card transactions processed through the Chase platform, both domestic and international
- 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
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Current Account - Free |
| Freemium | Monthly | Saver Account - Free |
| Freemium | Monthly | Credit Card - Fee-free |
| Freemium | Monthly | Cashback Cap |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels6 records
Chase UK product offering
Product offeringCore 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.
Companies that use Chase UK
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Chase UK technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature4 records
Chase UK partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- SignVideominorPartnership 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 UKminorPartnership 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
Chase UK competitors and assessment
Company assessmentEmerging 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
Chase UK social profiles
Digital presenceChase UK compliance and trust
Trust signalCompliance5 records
Chase UK financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chase UK leadership team
Management profileNumber of profiles
Chase UK funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chase UK M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chase UK
What does Chase UK do?
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.
Is Chase UK a public or private company?
Chase UK is a private company. It is classified as corporate owned and is currently operating.
When was Chase UK founded?
Chase UK was founded in 2018.
Where is Chase UK based?
Chase UK is headquartered in London, United Kingdom, in the Europe region.
How does Chase UK make money?
Three revenue lines are on record. Credit Card Interest and Fees are the primary driver. The others are interchange Fees and savings Float.
Who are Chase UK's main competitors?
Emerging players on record are Wise and Atom Bank. Direct peers are Starling Bank, Revolut and Monzo. Broad incumbents are NatWest Group, Barclays, Santander UK, Lloyds Bank and HSBC UK.
Does Chase UK have an API?
No public API is recorded for Chase UK.
What industry is Chase UK in?
Chase UK's product category is Retail Banking. Its primary akta.pro industry code is FSABAAAA, Mass-Market Consumer Deposit Banking (Checking/Savings), with a secondary code of FSABAAAC, Credit Cards & Revolving Credit. Its NAICS code is 522110 and its SIC code is 6022.