Martin Lewis issues Chase bank warning and explains 'workaround' for customers

martin lewis issues chase bank warning and explains 'workaround' for customers

The Martin Lewis Money Show star, who has a BBC Sounds podcast, issued the alert on Twitter/X in the wake of the shake-up affecting customers.

Martin Lewis has issued a Chase bank warning to customers ahead of a hike. The ITV The Martin Lewis Money Show star, who has a BBC Sounds podcast, issued the alert on Twitter/X in the wake of the shake-up affecting customers.

“Chase is changing it terms – existing customers will need to pay in more to get the 1% cashback – here’s how you work round it.. .,” Mr Lewis wrote. A customer replied: “UW now paying 3% Cashback for anyone that shops at ALDI. IKEA now 4%. 50+ retail partners. All unlimited spend. 1% on all other shopping subject to some limits. We get about £30 a month cashback.”

A second said: “Ooh. Chase. Come on MSE. They don’t rank very highly here. While I understand the core focus of MSE – we simply can’t ignore what banks and pensions do with our money. Take a look folks. Cheap deals are not what they are worth sometimes.”

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A third typed: “Love my Chase account. I move 500 in from my salary account elsewhere and move it back the next day. I don’t keep anything in Chase and just send money when I’m going to make a purchase. So you’ll often see me on the petrol forecourt transferring funds before paying.”

Another wrote: “So annoyed about that. As a very sick housebound disabled person, my income is a chunk less than that. I already have a complex standing order system between 3 different accounts in order to meet minimum income on others. This is going to make it impossible for me.”

“Gut instinct was to dump it but there’s not a lot of other options. Tbh, it’s a very minor extra job of taking a grand back out again compared to now,” another posted. The change comes as part of Chase’s new ‘Everyday Cashback’ offer, which launched today this week and will run on an ongoing basis.

If you’re a Chase customer, you’ll soon need to pay in at least £1,500 a month to qualify for its 1% debit card cashback offer. This new offer works mostly the same as Chase’s existing offer – meaning you get the same 1% cashback up to a maximum of £15 a month (£180 a year).

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