Chase cash back transfer to bank

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Taco Knight
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Chase cash back transfer to bank

Post by Taco Knight »

Hi all,

Quick question about a minor annoyance:
Has anyone had any luck or know any hacks with the Chase credit card cash rewards transferring to a bank account. For years, it was easy enough to transfer my cash back to the same bank account I have set up on auto-pay to pay the card, as it's already saved there.

Then, for at least 6 months, maybe a year, it seems I have to enter the bank account and routing number each time (By hand, can't even copy and paste, which would be annoying enough to have to copy them from my bank tab, but have to hard-type it in. Twice, actually to confirm the numbers.). To make it seem even more like it's not working as intended, there's also the option to enter a "nickname" for the bank, which could only conceivably be used if one were to want to save this bank info and refer to it, e.g. use it, again a later time to instigate another transfer, but there's no where I can find a drop-down or the like to find a nicknamed account.

Having this issue on both desktop and mobile websites and iOS app. Can't find anything searching, but figured this has got to be annoying other people and maybe some folks have figured out a solve. Thanks!
MrJedi
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Re: Chase cash back transfer to bank

Post by MrJedi »

My bank account is still a saved option for direct deposit for my Chase credit card cash back / points.
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anon_investor
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Re: Chase cash back transfer to bank

Post by anon_investor »

MrJedi wrote: Fri Sep 10, 2021 12:05 pm My bank account is still a saved option for direct deposit for my Chase credit card cash back / points.
+1. I actually just redeemed some this week.
slyfox1357
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Re: Chase cash back transfer to bank

Post by slyfox1357 »

anon_investor wrote: Fri Sep 10, 2021 12:07 pm
MrJedi wrote: Fri Sep 10, 2021 12:05 pm My bank account is still a saved option for direct deposit for my Chase credit card cash back / points.
+1. I actually just redeemed some this week.
+2, moved over my cash a few weeks ago without any duplicate entries.
lakpr
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Re: Chase cash back transfer to bank

Post by lakpr »

I assume you are talking about UR points being redeemed as cash back, not actually cash back rewards. I would just make a call and ask for the cash back to be applied as statement credit instead. Or, in the case of SAPPHIRE cards, use the Pay Yourself Back option. I have about 220k UR points that I am no hurry to cash out, I surely will have enough grocery purchases and some known upcoming minor travel expenses that I can use them towards for a 25% increased redemption value.

This is not a direct answer to your question, I know, but just pointing out that redeeming UR points to cash back is generally a poor redemption choice. Even if that IS your choice for reasons personal, your annoyance can be easily circumvented by a call to customer service.
outbackcountry
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Re: Chase cash back transfer to bank

Post by outbackcountry »

After signing into chase.com, navigate to the Ultimate rewards site. Click the three horizontal bar icon at the top left of the Ultimate Rewards site, scroll down and click the Cash Back. While in the cash back page, scroll down to the bottom of the page. You should see your bank accounts listed; if not, you should see a + sign to add a bank account. You should be able to add a Chase bank or any other bank account.
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Taco Knight
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Re: Chase cash back transfer to bank

Post by Taco Knight »

lakpr wrote: Sat Sep 11, 2021 10:57 am I assume you are talking about UR points being redeemed as cash back, not actually cash back rewards. I would just make a call and ask for the cash back to be applied as statement credit instead. Or, in the case of SAPPHIRE cards, use the Pay Yourself Back option. I have about 220k UR points that I am no hurry to cash out, I surely will have enough grocery purchases and some known upcoming minor travel expenses that I can use them towards for a 25% increased redemption value.

This is not a direct answer to your question, I know, but just pointing out that redeeming UR points to cash back is generally a poor redemption choice. Even if that IS your choice for reasons personal, your annoyance can be easily circumvented by a call to customer service.
Thanks, yes, I mean the UR points, didn't occur to me there might be others. Not Sapphire card, but Freedom. I can get the statement credit, which is what I do when I'm angry about having to re-type everything, but that's not as useful to me. If it's a solid chunk of money, it makes sense to *have it* to spend or accrue interest in my possession, not sit in Chase's escrow and transferring to my statement is just like punting for 45 days. I'd rather have it for 45 days and then use it to pay the statement balance. It's trivial sums in today's interest, but it's the principle. Good tip about some of the redeemables being worth more than the straight cash, but I'd rather decide what I want to spend money on than be limited into something I don't want to spend but feel obligated like getting a gift card as a gift.
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Taco Knight
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Re: Chase cash back transfer to bank

Post by Taco Knight »

outbackcountry wrote: Sun Sep 12, 2021 1:25 pm After signing into chase.com, navigate to the Ultimate rewards site. Click the three horizontal bar icon at the top left of the Ultimate Rewards site, scroll down and click the Cash Back. While in the cash back page, scroll down to the bottom of the page. You should see your bank accounts listed; if not, you should see a + sign to add a bank account. You should be able to add a Chase bank or any other bank account.
I think you missed the point of the post. What you describe is exactly what happens. What doesn't happen is the bank info or even name remaining there to choose from month after month. It has to be hard-entered each time, which is borderline actual work. They go through all the trappings of making it look like it will be saved (e.g. letting you give the bank or/and account a "nickname") as if you'd be able to sort and select by nickname again, but actually the information will not be restored. Even if it's the same bank account info already on file, such as for Auto-Pay.

Just looking to see if anyone else here has had this trouble and found a solution or at least mitigation.
e5116
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Re: Chase cash back transfer to bank

Post by e5116 »

I always do statement credit (for Pay Yourself Back). Didn't even know there might be an option to transfer directly to bank account but don't see much practical difference really. I get it's not "money in your account" instantly but it instantly reduces your statement balance so you could theoretically "invest" that money should you so choose. Money is fungible. And interest rate in bank accounts are puny these days anyways.
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anon_investor
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Re: Chase cash back transfer to bank

Post by anon_investor »

Taco Knight wrote: Tue Sep 14, 2021 7:42 pm
outbackcountry wrote: Sun Sep 12, 2021 1:25 pm After signing into chase.com, navigate to the Ultimate rewards site. Click the three horizontal bar icon at the top left of the Ultimate Rewards site, scroll down and click the Cash Back. While in the cash back page, scroll down to the bottom of the page. You should see your bank accounts listed; if not, you should see a + sign to add a bank account. You should be able to add a Chase bank or any other bank account.
I think you missed the point of the post. What you describe is exactly what happens. What doesn't happen is the bank info or even name remaining there to choose from month after month. It has to be hard-entered each time, which is borderline actual work. They go through all the trappings of making it look like it will be saved (e.g. letting you give the bank or/and account a "nickname") as if you'd be able to sort and select by nickname again, but actually the information will not be restored. Even if it's the same bank account info already on file, such as for Auto-Pay.

Just looking to see if anyone else here has had this trouble and found a solution or at least mitigation.
Try adding banks accounts for one time payments but not auto pay. I have bank accounts saved for one time payments but not auto pay. Those banks show up when I redeem points for cash as direct deposit options (saved don't have to manually enter them).
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Taco Knight
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Re: Chase cash back transfer to bank

Post by Taco Knight »

e5116 wrote: Tue Sep 14, 2021 10:15 pm I always do statement credit (for Pay Yourself Back). Didn't even know there might be an option to transfer directly to bank account but don't see much practical difference really. I get it's not "money in your account" instantly but it instantly reduces your statement balance so you could theoretically "invest" that money should you so choose. Money is fungible. And interest rate in bank accounts are puny these days anyways.
Thanks, yes, it's fungible and earns nothing much once I have it, but I'd rather have it for the 45-50 days than not. When I reduce my statement balance, by the time I have to pay that statement it's a month and a half after I've gotten that reward earned. Just a principle of the matter, to take my reward and see it in my bank account as cash back to counter seeing my credit card payments. As opposed to only seeing credit card payments month after month and not "seeing" when or if they're reduced by rewards certain months, etc. Silly, but the way I'd done it for years, even before the trackers and aggregators made it simpler.
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Taco Knight
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Re: Chase cash back transfer to bank

Post by Taco Knight »

anon_investor wrote: Tue Sep 14, 2021 11:37 pm Try adding banks accounts for one time payments but not auto pay. I have bank accounts saved for one time payments but not auto pay. Those banks show up when I redeem points for cash as direct deposit options (saved don't have to manually enter them).
That's really interesting! And mind-bogglingly bizarre, that they'd save a one-time institution info rather than the ongoing one. Further reinforcing my notion this was a programming oversight and just the type of workaround I was hoping someone might've found. Thanks!
UpperNwGuy
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Re: Chase cash back transfer to bank

Post by UpperNwGuy »

Your principles are killing you. You're insisting on an easier way to get the cash into your possession when there are already acceptable ways to do that. You just don't like those ways for reasons of principle.
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Taco Knight
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Re: Chase cash back transfer to bank

Post by Taco Knight »

UpperNwGuy wrote: Tue Sep 21, 2021 1:43 pm Your principles are killing you. You're insisting on an easier way to get the cash into your possession when there are already acceptable ways to do that. You just don't like those ways for reasons of principle.
What's killing me? It's a gripe with a non-user friendly system that used to work in a satisfying manner and is now annoying. Who's being killed?
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anon_investor
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Re: Chase cash back transfer to bank

Post by anon_investor »

Taco Knight wrote: Tue Sep 21, 2021 1:38 pm
anon_investor wrote: Tue Sep 14, 2021 11:37 pm Try adding banks accounts for one time payments but not auto pay. I have bank accounts saved for one time payments but not auto pay. Those banks show up when I redeem points for cash as direct deposit options (saved don't have to manually enter them).
That's really interesting! And mind-bogglingly bizarre, that they'd save a one-time institution info rather than the ongoing one. Further reinforcing my notion this was a programming oversight and just the type of workaround I was hoping someone might've found. Thanks!
Did that work for you?
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