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May 22 2023

Chase UK Reaches 1.6M Customers, £15BN in Deposits

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Chase UK reaches 1.6m customers, £15bn in deposits

  • 20 months since its launch in September 2021, more than 1.6 million customers now bank with Chase in the U.K.
  • Customer numbers have tripled since May last year, when Chase announced it had 500,000 customers.
  • Chase now holds $19 billion USD in deposits (£15bn GBP), nearly double the $10bn disclosed in May 2022.
  • Chase’s product and service offer has been extremely well received throughout the U.K., across the country and across all age groups. Chase is processing more than 1 million transactions per day with customers highly engaged with the digital bank’s product offer.
  • Chase has been recognised by its customers, with it recently named Best British Bank, Best Current Account, and Best Savings Account, at the 2023 British Bank Awards. It has an App Store rating of 4.9, Google Play Store rating of 4.7, and a Trustpilot score of 4.1. In January, MoneySavingExpert readers rated Chase number 1 in customer service.
  • From February, customers of Chase and Nutmeg have been able to see their investment accounts in the Chase app, or new Nutmeg customers have been able to sign up to invest with Nutmeg via the Chase app.

 

Sanjiv Somani, U.K. CEO for Chase and Nutmeg, said: “We’re pleased that consumers have responded so positively to our offer and are increasingly using Chase for a broader range of their banking needs. Our intention is to offer a full suite of banking products over time – including fully integrating the Nutmeg investment products into the Chase app – creating a one-stop-shop for customers to spend, save, invest, or borrow, with Chase.”

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Sanjiv Somani, Chase | FF News

Sanjiv Somani

JP Morgan Chase

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