Money Saving Expert Warns Chase Bank Customers

Martin Lewis' Money Saving Expert (MSE) has issued warnings regarding upcoming interest rate cuts for Chase Bank customers. Beginning January 16, 2025, the interest rate for the Chase boosted saver account will drop from 4.5% to 3.5% as a special bonus ends, followed by an additional reduction of 0.25 percentage points for all savings accounts on February 19. Customers who opened accounts after December 9, 2024, will have a different boosted saver offering that lasts for six months without a fixed expiry. MSE advises that savers may find better rates elsewhere, providing a comparison of competitive savings options. As the Cost of Living crisis continues, these changes highlight the ongoing challenges for savers in maximizing their returns. The Bank of England's interest rate decisions may also factor into future changes for Chase customers.