Monthly Cashback Terms and Conditions
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Who are these terms between?
You- A Chase UK customer and potential new customers in the UK are eligible for our Monthly Cashback offer.
Us- Chase, a trading name of J.P. Morgan Europe Limited, so whenever you see ‘Chase’ or ‘we’, you know who we’re referring to.
Monthly cashback: What it is and how you can earn it?
Monthly cashback is a benefit we offer to existing Chase UK customers whose existing cashback offer has come to an end. We’ll email you to let you know if you become eligible for this offer.
If you deposit at least £500 into your Chase current account in a month, we’ll pay you 1% cashback in the following month when you use your debit card to pay for everyday goods and services such as buying your weekly food shopping or buying a train ticket.
What counts towards the £500 deposit?
Eligible payments made by either Bacs or Faster Payments Service (FPS) will count towards your monthly deposit. Examples of these payments include:
- Transfers from other banks
- Standing orders from other banks
- Salary payments from your employer
- Universal Credit payments
Transfers between your own Chase accounts, any direct credits to your savings accounts or any refunds to your card won’t count.
What you won’t earn monthly cashback on
There are a few exceptions. You won't be able to earn cashback on anything you buy from the following types of merchants.
- Account and prepaid card funding
- Antique shops, including repairs and restoration
- Art dealers and galleries
- Bail and bond payments
- Bank fees such as product fees, promotional merchandise, financial consultations and loan fees
- Boat dealers
- Car and van dealers - new and used sales, services, repairs, parts and leasing
- Cash withdrawals
- College and university fees
- Debt repayments
- Gambling transactions
- Government services not classified elsewhere
- Hospital fees
- Insurance sales, underwriting and premiums
- Intra-government purchases
- Money orders
- Money transfers
- MoneySend transactions
- Motor home, camper and trailer dealers
- Motorcycle shops and dealers
- Nursing and personal care facilities
- Precious metals
- Professional and financial services
- Real estate agent and management fees
- Savings bonds
- Securities — stocks, bonds, commodities and mutual funds
- Stamp and coin stores
- Tax payments
- Travellers Cheques and foreign currency
Merchants are given a specific code based on the type of things they sell. This is called a Merchant Category Code (MCC). We use the MCC to work out whether you can earn cashback on a transaction.
We don’t control what type of code a merchant is given. So, in some cases, a merchant might sell something that seems eligible for cashback. But because of the merchant’s category code, the transaction isn’t eligible.
How much cashback you can earn each month
Cashback earnings will be capped at £15 a month i.e. on up to £1,500 of spending. If you reach the cap you will not earn cashback on further debit card spending.
Receiving any cashback you’ve earned
We'll credit your rewards balance with any cashback earned after the relevant debit card payment has cleared.
We’ll round your cashback earned to the nearest penny. And if you use your debit card outside the UK, we’ll calculate cashback on the amount after converting into pounds sterling.
Cashback if you use a digital wallet
We only support Apple Pay, Google Pay and PayPal. All other digital wallets are not supported.
Deducting cashback after we’ve given it to you
We won’t give you cashback in relation to debit card payments for anything that you later cancel or return for a refund. If we’ve already credited your rewards balance with cashback, we will deduct the relevant amount from your rewards balance.
Redeeming the cashback you’ve earned
You can transfer your rewards balance to an account you hold with us. You’re then free to use it as you wish.
How long you can get monthly cashback for
The monthly cashback offer will be available to you for a period of 12 months from when your 1% cashback offer ends.
However, if we do stop running the offer earlier for any reason, we’ll tell you 30 days before it ends. We might stop you earning cashback at the point we give you notice.
To keep earning cashback for the full 12 months, you’ll need to have an active account with us and keep to the General Account Terms and Conditions as well as deposit into your Chase account a minimum of £500 in a month as mentioned above. If we suspect you are abusing this reward you will stop earning cashback and we may close your account.
When we might change how we offer monthly cashback
We might need to make changes to the way we offer cashback. That could mean changes to how you earn cashback, how much cashback we’ll offer or the period of this reward. We might also make other changes.
We’ll let you know if we make any material changes – usually 30 days before it happens.
Opting out of monthly cashback
If you don’t want to receive cashback, you can opt out of all rewards in the app. If you have any other questions, please call or message us by tapping “Support” in the app.
Other terms that apply if you use this offer
The terms of your accounts are set out in the General Account Terms and Conditions and other terms we gave you when you opened your account.
Our authorisation details
Chase is a registered trademark and trading name of J.P. Morgan Europe Limited. J.P. Morgan Europe Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 124579.
J.P. Morgan Europe Limited is a company incorporated under the laws of England and Wales with company registration number 00938937 and its registered office at 25 Bank Street, Canary Wharf, London E14 5JP, United Kingdom.