Chase UK launched in 2021 with a headline offer of 1% cashback on all debit card spending for the first 12 months — unusually generous for a free current account. That blanket offer is long gone. Since 1 June 2026, Chase runs a new cashback scheme: 2% cashback, capped at £20 a month, on eligible UK spending across both debit and credit cards. This article explains how the current scheme works, what the original scheme looked like, and how to make the most of what Chase offers today. For a full overview of the account including savings rates and limits, see the Chase UK hub.
Chase Cashback in 2026: The Current Scheme
Since 1 June 2026, Chase pays 2% cashback, up to £20 a month, on eligible spending using a Chase debit or credit card. This replaced the earlier system of purely personalised in-app promotions.
| Detail | Current terms (from 1 June 2026) |
|---|---|
| Rate | 2% cashback |
| Monthly cap | £20 |
| Eligible categories | Groceries, restaurants, cafes, takeaways, everyday transport, fuel, public EV charging |
| Card types | Debit and credit cards |
| Geographic scope | UK and Channel Islands only |
| Currency | GBP only — no cashback on purchases abroad or in other currencies |
| Qualifying activity | Generally requires at least 15 card payments and/or Direct Debits in a month, plus £1,000+ held across your Chase Savers, to qualify for cashback the following month |
Always check the Chase app for the exact, current terms — Chase has changed its cashback structure several times since 2021 (1% blanket offer at launch, a £15/month cap added in 2023, restrictions to UK/GBP-only spending from April 2025, and this 2% scheme from June 2026), and further changes are possible.
How the Original 1% Cashback Worked
Understanding the original offer helps clarify what customers who joined in 2021–2023 received:
| Feature | Detail |
|---|---|
| Rate | 1% cashback on all eligible debit card purchases |
| Monthly cap (introduced 2023) | £15 per month (cashback on first £1,500 of monthly spending) |
| Annual maximum | £180 over 12 months |
| Duration | 12 months from account opening |
| Payout | Credited directly to the Chase current account within a few days |
What was excluded: Cash withdrawals, gambling transactions, peer-to-peer transfers, credit repayments, and PayPoint payments did not earn cashback.
Worked example (original scheme): You spend £800 on groceries, transport, and eating out in a month. You earn 1% = £8 cashback. At the cap (£1,500/month), you earn the maximum £15/month = £180 over the first year.
What Does Not Qualify for Cashback (2026 Scheme)
Across Chase’s current cashback scheme, the following are excluded:
| Excluded category | Notes |
|---|---|
| ATM cash withdrawals | Cash does not earn cashback |
| Purchases outside the UK or Channel Islands | Only UK/Channel Islands spending qualifies |
| Purchases in a non-GBP currency | Must be paid in GBP to qualify |
| Categories outside the eligible list | Only groceries, restaurants, cafes, takeaways, everyday transport, fuel, and EV charging qualify |
| Gambling transactions | Typically excluded |
| Peer-to-peer transfers | Sending money to individuals |
| Balance transfers or credit repayments | Not eligible |
The exact exclusions are specified in the terms shown in the app — confirm before relying on any category qualifying.
Is Chase Cashback Worth It in 2026?
For someone who regularly spends in the eligible categories (groceries, transport, fuel, eating out) and meets the monthly activity requirements (15+ payments/Direct Debits and £1,000+ across Savers), the 2% cashback up to £20/month is a meaningful, straightforward benefit — worth up to £240/year.
It’s worth noting that Chase’s current account no longer pays interest on the balance — that stopped on 5 August 2024. Interest is now only available through the linked Saver (2.25% AER standard, variable, with a boosted new-customer rate available periodically — confirm the current boosted rate in the app) and the Round-up account (5.00% AER, variable). See Chase UK Fees and Benefits and Chase UK Savings Account for the full picture.
Comparing Cashback Options
If cashback on everyday spending is your primary goal, compare Chase’s 2% capped scheme against dedicated cashback credit cards — rates, caps, and eligible categories vary by card and change over time, so check current terms for any specific card before deciding.
Note: PocketWise does not recommend specific financial products. This comparison is for general information only. Check Best Current Accounts for a broader account comparison.
Related Guides
- Chase UK hub — full guide to the Chase UK account
- Chase UK Review 2026 — complete account review
- Chase UK Savings Account — linked Saver rates and how it works
- Chase UK Travel Spending — fee-free foreign spending and ATM limits abroad
- Chase UK Fees — full fee schedule
- Best Current Accounts UK 2026 — how Chase compares to other accounts