A huge change made to bank accounts has taken effect for Chase Bank customers this week. The online bank earlier this year announced it would be making a big change to accounts from April, in a move that customers branded ‘rubbish’.
Chase announced that it will massively reduce the scope of its 1% cashback offer, starting from Monday, April 7. Chase has become hugely popular in the UK as an online-only bank thanks in part to its cashback offer, which gave customers 1% cashback on pretty much all spending each month, up to £15, as long as you paid in enough to qualify (as of recently, £1,500). As a result, Chase has consistently been a top pick reccomendation from finance experts including Martin Lewis.
But Chase announced that the scheme will no longer give cashback on all purchases and instead it has been cut to just groceries, transport and petrol.
Chase issued a message to customers which said: “From April 7, 2025, you can only earn cashback on groceries, everyday transport and fuel.”
Posting in the ChaseUK subReddit, u/IamGlinda said: “Well, that’s a bit rubbish.”
Others weren’t happy with the change either. u/undertheskin_said: “Very surprised to see that – obviously the 1% can’t last forever, but reducing it to just groceries is really poor. I think it may be time to jump from Chase…”
Mark Powys, Managing Director for Daily Banking at Chase, said: “Chase’s cashback offer is one of the most competitive on the market, enabling customers to earn a little extra on many of the essential things they already buy daily.
“As well as our cashback offer, Chase’s current account offers a range of money management features, interest on small change round-ups through Chase’s round-up account, and a competitive-rate easy access saver account.”
Other banks are still offering cashback too. One popular choice for cashback on monthly spending is Santander. Right now, the bank offers cashback on both regular spending and cashback on bills, too.
Its Santander Edge account offers up to £10 a month back on everyday spending, and £10 a month back on monthly bills, for a total of £20 of cashback each month, as long as you pay in enough money to meet the criteria, currently £500 per month. The account costs £3 a month to maintain, but you make it back on the cashback offers for a profit of up to £17 a month.
Santander says: “Our Santander Edge current account comes with 1% cashback (up to £10 a month) at supermarkets and on travel costs when you use your debit card (exclusions apply).
“1% cashback (up to £10 a month) on selected household bills when you pay by Direct Debit.”