Chase, the standalone digital bank by JPMorgan Chase, has launched a new savings account for UK customers.

The saver account, which is linked to the Chase current account, is offering rates of 1.5 per cent AER.

JPMorgan Chase launched its new digital bank in the UK under the Chase brand in September last year, going up against the likes of Revolut, Starling and Monzo in the challenger bank market.

The new savings account can be opened via the Chase app and is available to Chase current account holders.

Chase said customers can open multiple saver accounts to suit their savings goals.

Each saver account has a unique account number, enabling customers or their friends and family to pay in directly from other providers.

Savers can deposit up to £250,000 in total at any time and can access their savings with no fees, charges or loss of interest.

Shaun Port, managing director, savings and Investments, for Chase in the UK said: “With the cost of living increasing, we know that consumers want to maximise the interest they can earn with the reassurance of being able to access their savings instantly.”

“We have designed the Chase saver account to provide our customers with maximum flexibility alongside a competitive rate.”

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