Idea
iFAST Global Bank vs Chase: Which bank account to choose in 2026?
by
iFAST Global Bank
iFAST Global Bank and Chase UK both offer modern banking services, but they differ in areas such as multi-currency functionality, savings features, and international capabilities.
This guide compares the two services to help readers understand how their features and structures differ.
Important: This article is for general information only and does not constitute financial advice. Product features, interest rates, and regulatory permissions may change. Always check the provider’s official terms before opening an account.
Quick Comparison
Feature | iFAST Global Bank | Chase UK |
Provider type | UK digital bank | UK digital bank |
Deposit protection | Eligible deposits protected by FSCS (up to £120,000) | Eligible deposits protected by FSCS (up to £120,000) |
Supported currencies | 9 currencies in one account | GBP only |
Account structure | Multi-Currency Current Account | GBP current account |
International bank transfers | International payments to 160+ countries, support 30+ currencies; Free cross-currency transfers
| Not currently supported for sending or receiving international payments
|
Debit cards | Visa debit card^ | Mastercard debit card |
Interest on everyday balances | Yes – up to 2.80% AER interest on balances in 9 currencies.* | No interest on current account balance |
Interest on savings | Up to 4.15% AER on fixed term deposits*# | Competitive variable savings rates (easy-access) |
ATM withdrawals abroad | Fee-free worldwide (local ATM fees may apply) | Fee-free abroad (subject to limits) |
Cashback | Not a core feature | Cashback on eligible spending |
Overview
iFAST Global Bank
iFAST Global Bank is a UK-authorised digital bank offering international banking through its interest-bearing Multi-Currency Current Account.
Customers can hold, transfer, and manage funds across multiple currencies within a single account.
Key features include:
- 9 supported currencies within one account
- Interest earned* on everyday balances (calculated daily, paid monthly)
- Multi-currency transfers and international payments
- Visa debit card for eligible customers
- Fixed-term deposit options
This structure may appeal to individuals who regularly deal with multiple currencies, such as expatriates or globally active professionals.
Chase UK
Chase UK is a digital bank backed by JPMorgan Chase, offering a mobile-first banking experience focused on spending, saving, and rewards.
Common features include:
- App-based current accounts
- Cashback on everyday spending
- Round-up savings features
- Easy-access savings accounts with competitive rates
- Fee-free spending abroad
Chase’s offering is designed for everyday banking with an emphasis on rewards and simple savings tools.
Key Difference: Currency Support
One of the most significant differences between the two services is how they handle currencies and international money.
iFAST Global Bank
The Multi-Currency Current Account allows users to hold up to nine currencies in one place.
Balances earn interest*, and users can manage international payments without needing separate accounts. This may be useful for those frequently sending or receiving money across borders.
Chase UK
Chase operates primarily with a GBP-based current account.
While customers can spend abroad without foreign transaction fees, the account itself does not support holding multiple currencies. Currency conversion happens at the point of transaction.
Key Difference: Interest and Rewards
iFAST Global Bank
- Interest is earned on everyday balances*
- Fixed-term deposits offer potentially higher rates#
- Focus is on savings growth and currency flexibility
Chase UK
- No interest on the current account balance
- Cashback on eligible purchases
- Competitive interest on easy-access savings accounts
Chase may appeal more to users looking for rewards on spending, while iFAST may suit those prioritising interest on held balances.
Which Platform May Suit Different Users?
iFAST Global Bank may suit users who want:
- A multi-currency bank-style account
- Interest earned* on everyday balances
- International transfer capabilities
- Centralised global money management
Chase UK may suit users who want:
- Cashback on everyday spending
- A simple, mobile-first banking experience
- Easy-access savings with competitive rates
- Fee-free spending abroad
Frequently Asked Questions
Is iFAST Global Bank regulated in the UK?
Yes, iFAST Global Bank operates as a UK-regulated bank, authorised by the Prudential Regulation Authority (PRA) and regulated by both the PRA and the Financial Conduct Authority (FCA). Deposits up to £120,000 are protected by the Financial Services Compensation Scheme (FSCS), subject to scheme rules.
Is Chase UK a licensed bank?
Yes. Chase UK operates as a UK bank. Eligible deposits are protected by the FSCS up to £120,000.
Does Chase UK offer multi-currency accounts?
No. Chase UK accounts are GBP-based, although users can spend internationally with automatic currency conversion.
Final Thoughts
Both iFAST Global Bank and Chase UK offer modern digital banking services but are designed with different priorities:
- iFAST Global Bank focuses on international banking with multi-currency functionality and interest on everyday balances.
- Chase UK focuses on everyday banking with cashback rewards and simple savings features.
The right choice depends on whether you prioritise global money management or rewards-driven daily spending.
Disclaimers
This content is for informational purposes only and does not constitute financial advice. Financial products, interest rates, and regulatory permissions may change. Always review the provider’s official documentation before making financial decisions.
*Interest rates are variable and subject to change.
#Fixed-term deposits are subject to terms and conditions, including restrictions on early withdrawal.
^Debit card availability may depend on residency and eligibility criteria.
iFAST Global Bank is a member of the Financial Services Compensation Scheme (FSCS).
iFAST Global Bank 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 716167. We are registered in England and Wales, our company number is 4797759.
Please note that the provided details serve as general information and should not be considered as financial advice or endorsements. We strongly advise customers to diligently carry out their own research and consider seeking expert guidance for tailored financial choices.
