Zopa Biscuit vs Chase cashback, interest, fees & referral bonuses

Last updated: 9 June 2026

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If you're comparing Zopa Biscuit vs Chase, you're in good company. Both are free, app-only UK bank accounts with cashback, savings perks and sign-up bonuses. However, they're built for slightly different people. This guide breaks down cashback, interest rates, fees, FSCS protection, referral offers and app experience so you can pick the right one (or grab both).

Quick summary: Zopa Biscuit vs Chase

Zopa Biscuit may suit you if you want interest on your daily balance, strong savings rates and cashback on household bills paid by Direct Debit.

Chase may suit you if you want cashback on everyday card spending, a boosted saver and extra products like credit, insurance and investing under the JPMorgan umbrella.

Since all three accounts are free, opening more than one is an option worth considering: open both (plus Monzo), collect the referral bonuses and keep whichever you actually use. They're all free, so you can walk away anytime.

Cashback and rewards compared

This is a big part of the Zopa Biscuit vs Chase decision because the two accounts reward you in completely different ways.

Chase cashback: 2% on eligible categories (with monthly qualification criteria from June 2026)

Chase gives 2% cashback on debit card spending in specific categories: groceries, restaurants, cafes, takeaways, everyday transport, fuel and public electric vehicle charging points. The cashback is capped at £20 per month. From 1 June 2026, you need to hold at least £1,000 in total across your Chase saver accounts every day of the month and make at least 15 qualifying payments during the month to remain eligible. Always check Chase's full cashback terms for the latest eligibility rules.

As a result, Chase tends to suit people who put most of their day-to-day spending on the debit card and are comfortable meeting the balance and payment thresholds each month.

Chase referral: get £50 when you pay in £1,000

Zopa Biscuit cashback: 2% on Direct Debits

Zopa Biscuit takes a different approach. Instead of rewarding card spending, it pays 2% cashback on Direct Debits up to £125 per month (£1,500 per year). That means the maximum annual cashback is £30. On the other hand, it rewards essential spending like energy, broadband, council tax, subscriptions, insurance and gym memberships, without requiring any monthly balance or payment thresholds.

In other words, Zopa is potentially better if your biggest outgoings are bills paid by Direct Debit. Meanwhile, Chase wins if you want cashback on everyday card spending. So why not open both?

Open a Zopa Biscuit account

Interest and savings features

This is the biggest difference in the Zopa Biscuit vs Chase debate. Both accounts approach savings in quite different ways.

Chase: boosted saver and round-ups

Chase pays nothing on the current account balance itself. However, it makes up for that with some strong savings options:

Boosted saver: 4.5% AER (variable) for new customers, fixed for 12 months. After that, it drops to the standard rate of 2.25% AER. Source: chase.co.uk.
Round-up account: 5% AER on spare change from card spending, rounded up to the nearest pound automatically.
Standard saver: 2.25% AER (variable). Always check chase.co.uk for the current rate as it is variable.

So Chase is not weak on savings. It just does not pay you for leaving cash in your main current account.

Zopa Biscuit: interest on your daily balance

Zopa's Biscuit setup works differently. It pays you for keeping money in your current account:

Current account interest: 2% AER (1.98% gross, variable) on your balance. There is no cap on how much you can earn. Source: zopa.com/current-account.
Regular Saver: 7.10% AER (6.87% gross, variable) on deposits of up to £300 per month for 6 months. This is one of the highest linked regular saver rates available from a UK bank.
Easy-access saver: Check zopa.com for the latest easy-access rate as it may change.

If your priority is interest and savings, Zopa tends to win on paper. The regular saver alone could earn up to £137 per year if the rate stays constant and you save the full £300 per month.

Fees and charges

Both accounts are generally fee-free for standard UK use. Neither charges a monthly fee or requires a minimum balance. In addition, both offer fee-free card spending abroad (Chase uses the Mastercard rate; Zopa uses the Visa rate). You should still check the latest terms for overseas ATM limits, replacement card charges and any inactivity rules, as these can change.

FSCS protection: is your money safe?

Yes. Both accounts are held with UK-authorised banks and carry full FSCS deposit protection.

Zopa Bank Limited (FRN 800542) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. You can verify this on the FCA register. Eligible deposits held with Zopa Bank Limited are protected up to £120,000 per eligible person by the FSCS (since 1 December 2025).

Chase is a registered trademark and trading name of J.P. Morgan Europe Limited (FRN 124579), authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. You can verify this on the FCA register. Eligible deposits held with J.P. Morgan Europe Limited (trading as Chase) are protected up to £120,000 per eligible person by the FSCS (since 1 December 2025). Always confirm the current terms on the Chase FSCS page.

This is one of the most common questions people ask when comparing Zopa Biscuit vs Chase. The short answer is that both are fully regulated UK banks with the same level of deposit protection.

App experience

Chase app

The Chase app is clean, minimal and built for clarity. Transaction tracking is strong, and features like round-ups and savings goals are well-integrated. It also supports the Current Account Switch Service (CASS), which makes moving your existing bank account straightforward.

Zopa app

The Zopa app is more savings-oriented. It is designed around financial organisation, with clear separation between spending and saving pots. However, Zopa does not yet support CASS, so you would need to set up Direct Debits manually if you want to earn the cashback perk.

If you want a more detailed comparison with another popular option, take a look at our Monzo vs Zopa Biscuit comparison.

Features: Chase is the Swiss Army knife

Even though Zopa's rates are better in some areas, Chase has more add-on products.

Credit card (subject to status)

Chase offers a 12-month interest-free credit card (subject to status). If you want to spread the cost of big purchases, this is an advantage that Zopa does not match.

Packaged insurance

Chase has launched packaged insurance, which bundles travel insurance and phone cover in one place. This is appealing if you want all-in-one cover without shopping around separately.

Investing via JPMorgan Personal Investing

Chase also gives you access to investing through JPMorgan Personal Investing. If you are looking to invest and want access to one of the world's largest asset managers, Chase is a good starting point. We have a detailed JPMorgan Personal Investing review here. They also run referral and new-customer campaigns for eligible sign-ups. Always check the current JPMorgan offer terms before applying, as specific promotions change regularly.

So on features like investing and credit, Chase is clearly stronger.

Referral bonuses compared

Here is the practical part. All of these offers have eligibility rules that can change, so always check the provider's terms before applying.

Chase: £50 if you pay in £1,000 within 30 days
Zopa Biscuit: The Zopa Biscuit refer-a-friend offer has ended. No active referral bonus is currently running. Check the Zopa referral page for any current offer. If you are looking for a live sign-up bonus, the Monzo current-account offer below is currently active.
Monzo: A random £5 to £50 (most people receive around £10)
Lloyds (traditional bank option): Check the latest Lloyds referral

If any referral link stops working, message us on Instagram and we'll point you to the latest live version.

So which is better: Zopa Biscuit vs Chase?

Zopa Biscuit may suit you if you care about:

Earning interest on your everyday balance
Strong savings rates (7.10% regular saver and easy-access options)
Cashback on Direct Debit bills

Chase may suit you if you care about:

Cashback on everyday card spending in eligible categories (2%, up to £20/month, with monthly qualification requirements from June 2026)
A boosted savings rate of 4.5% AER for new customers
Credit card option (subject to status)
Packaged insurance
Investing options under the JPMorgan umbrella

In simple terms: Zopa equals interest, saving and bill cashback. Chase equals spend cashback, credit and add-on features. That is the real difference in the Zopa Biscuit vs Chase comparison.

The power move: sign up to all of them

This might sound excessive, but it is a practical option. All three major app banks (Chase, Zopa and Monzo) are free to open. They all run referral offers. You can keep them open while you test them, and if you dislike one, you can simply stop using it.

Monzo is worth including too, because it is arguably the UK's default app bank for many people. It also offers arranged overdrafts (subject to eligibility), which neither Chase nor Zopa provides. On top of that, Monzo has launched its own investment product.

Monzo referral: a random £5 to £50

Credit checks and overdrafts

Generally, opening a current account involves a soft credit search unless you apply for credit such as an overdraft. If you do request an overdraft, you are more likely to trigger a hard check.

On overdrafts specifically: Monzo offers arranged overdrafts (subject to eligibility), while neither Chase nor Zopa offers arranged overdrafts as a standard feature. If you need an overdraft safety net, that alone might make Monzo the most practical main account, with Zopa and Chase running alongside for rates and perks.

Final verdict: Zopa Biscuit vs Chase

If cashback on card spending and add-on features matter most, Chase usually wins. If interest on your balance, structured savings and long-term money habits matter more, Zopa Biscuit is likely the better fit.

Both are strong accounts in their own right. Since all three accounts are free, opening more than one is an option worth considering: collect the bonuses and keep whichever one fits your lifestyle best.

FAQs: Zopa Biscuit vs Chase UK

Is Zopa Biscuit a bank, and is my money protected?

Yes. Zopa Bank Limited (FRN 800542) is a UK-authorised bank regulated by the FCA and PRA. Eligible deposits held with Zopa Bank Limited are protected by the FSCS up to £120,000 per eligible person per authorised institution (since 1 December 2025). Always check the latest terms on zopa.com.

Is Chase UK a bank, and is my money protected?

Yes. Chase is a trading name of J.P. Morgan Europe Limited (FRN 124579), authorised by the PRA and regulated by the FCA and PRA. Eligible deposits held with J.P. Morgan Europe Limited (trading as Chase) are protected by the FSCS up to £120,000 per eligible person per authorised institution (since 1 December 2025). Always confirm the current terms on chase.co.uk.

Which is better for cashback, Zopa Biscuit or Chase?

It depends on how you spend. Chase pays 2% cashback on eligible card spending in categories like groceries, transport and fuel (capped at £20/month), but from June 2026 requires a minimum £1,000 held across Chase saver accounts and at least 15 qualifying payments per month. Zopa pays 2% on Direct Debits (up to £125/month) with no monthly balance or payment requirements. Chase suits card spenders who can meet the monthly criteria; Zopa suits bill payers. Cashback rules can change, so double-check the current terms with each provider before choosing.

Which is better for saving money?

Zopa wins on paper with 2% AER on balances, a 7.10% regular saver and strong easy-access options. However, Chase's 4.5% boosted saver and 5% round-ups are also competitive. Compare the current rates on each provider's site before choosing.

Do either of these accounts charge monthly fees?

No. Both standard accounts are free. However, fees can apply for specific things like overseas ATM withdrawals beyond certain limits or replacement cards. Always check the latest fee schedule before opening an account.

Can I open both Zopa Biscuit and Chase UK?

In most cases, yes. Many people keep one account for spending and another for savings or bills. Just be mindful of admin, and make sure you will actually use the account.

Will opening a new bank account affect my credit score?

It can, especially if a hard credit check is involved or if you open multiple accounts in a short period. The impact is usually small. However, if you are applying for a mortgage or major credit soon, consider waiting.

How do referral bonuses work?

Referral bonuses are promotional offers with eligibility rules that can change. Our referral pages explain the current offers and steps to claim them:

Zopa Biscuit referral guide (note: the refer-a-friend bonus has ended; check the page for any current offer)
Chase referral guide (£50 with £1,000 pay-in)
Monzo referral guide (random £5 to £50)

Always read the provider's official terms before applying, and follow the steps exactly to avoid missing the reward.

Is Monzo a better alternative?

Monzo is often the middle-ground option in the UK, with a strong everyday app, overdraft availability and a growing ecosystem. If you are weighing it up, our Monzo vs Zopa Biscuit comparison covers it in detail.

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Disclaimer: This article is general information, not financial advice. Rates, offers and terms can change at any time, so always confirm details with the provider before applying. CoolCuration may earn a referral reward if you open an account using links on this page. This helps support the site at no extra cost to you.

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