You can now get a bonus for signing up via a refer-a-friend link – and earn up to £400 on top.
If you’re thinking of signing up to Chase Bank then this offer is a great little extra of £20 on top of 1% cashback and 1.5% on savings. Plus existing customers can earn up to £400 by referring their friends. Here’s what you need to know.
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What is Chase Bank?
Chase Bank launched in the UK in September 2021. It’s an app-only bank, similar to how Monzo and Starling work.
Until now the main incentive to get the account has been 1% cashback on most purchases for 12 months. There’s also 1.5% AER interest on savings up to £250,000 and 5% interest on round-ups.
Overall it’s a strong package, with a decent app. Here’s my full review, and here’s my comparison with Monzo and Starling.
The best bank switch bonuses
Check out our list of all the bank switch offers you can get when opening a new current account
How to get £20 for joining Chase
The welcome deal launched in May 2022 and will end 7 June 2022. It’s not a switching offer – you simply need to open an account and follow a few steps.
* UPDATE 6 JUNE – it’s been revealed the £20 referral scheme will end on 7 June 2022 and applications can take three to five weeks to be approved. Here’s what you need to know about how this impacts you if you’re halfway through or just starting an application .
£20 for joining Chase Bank
**ENDS 7 JUNE 2022 AT 23:59**
To get the £20 for joining you need to be a new customer and not had the current account at all since it launched.
You’ll then need to download the app via this link and apply for an account. This should automatically apply the referral code.
You’ll need a photo ID such as a passport or driving licence. It might take 24 hours for the account to be approved.
Once the account is open, you need to activate the offer. You’ll do this in the ‘Rewards’ section of the app, which you’ll find by scrolling down to the bottom of the home page.
Click the offer to activate it. If you used the link above you won’t need to enter a code. If not, enter a referral code at this stage (e.g. KzDv33wc)
Then pay in at least £20 to your Chase account within 30 days. The £20 credit should be in your account really fast – usually within minutes.
Once it is paid it’ll go into your Reward account. To use it you’ll need to transfer it to your main account. You can then spend it via the Chase debit card, move it to an interest paying Chase savings account or transfer it to an external account.
You have 14 days after opening the account to enter this code, and this includes people who opened an account prior to the refer-a-friend offer on 11 May 2022.
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Plus, new TopCashback customers get a high paying £18 welcome offer
How do you earn money as an existing customer?
Seeing as this is a refer-a-friend scheme, it’s possible for all existing Chase customers to also receive cash for every friend they get to join. It’s the same £20 credit per referral.
You can refer as many people as you like, but you’ll only earn money on the first 20 new customers, totalling £400.
Earn up to £400 through referrals
To find your referral code you need to scroll to the ‘Rewards’ section of the Home page of the Chase app. You’ll see the offer listed. Click on this, read the terms and then click ‘Get Started’ to activate the offer.
This will give you access to your unique code which you can share with friends and family. You can share the link that includes the code or just send the code.
To find the link later you’ll need to select ‘Active offers’ (the page defaults to ‘Latest offers’).
You’ll see activity and progress appear in the Rewards section.
This also ends 7 June 2022 and 23:59.
