Receiving inheritance from abroad: What you need to know
Read our guide on receiving inheritance from abroad, the steps you should take after becoming a beneficiary and UK inheritance tax.
If you’re thinking of moving banks, one of the most important things to check out is security.
In this guide, we’ll take a look at Chase UK and what steps it takes to protect you and your money.
Chase is a popular choice in the UK right now, having over one million customers¹ despite only launching here in 2021. But how does it score on security? Is it safe to use? Read on to find out.
We’ll also show you another secure alternative which could save you money on international transfers - the Wise account.
If you’re worrying - is Chase a scam? The answer to this is a resounding no, as Chase is a fully licensed bank in the UK. It’s authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA).²
What’s more, Chase is covered by the Financial Services Compensation Scheme (FSCS).² This gives you protection of up to £85,000 if anything should happen to the bank.
Chase also uses sophisticated security measures to keep your account, money and data safe. Let’s run a few of these here:³
It’s great to know that Chase has lots of security measures in place. But there are also things that you can do to stay safe while managing your money. Here are some tips:
Want an account for making and receiving international payments? This is a feature that the Chase account doesn’t offer, but there is a great alternative out there.
Open a Wise multi-currency account and you can send and receive money worldwide for tiny fees and the mid-market exchange rate. Plus, you can hold and manage your money across 40+ currencies.
And Wise takes security extremely seriously. As well as being strictly regulated, Wise uses 2-factor authentication for extra-secure transactions, has a dedicated anti-fraud team and is committed to keeping your personal data safe.
Sources used:
Sources last checked on date: 31-Jul-2023
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
Read our guide on receiving inheritance from abroad, the steps you should take after becoming a beneficiary and UK inheritance tax.
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