# Chase UK referral code — £50 bonus (R2MQHM)

> Open a new Chase UK current account in the Chase app, enter referral code **R2MQHM** in the Rewards section within 30 days, and deposit a cumulative **£1,000** within 30 days to receive a **£50 welcome bonus** into your Chase Rewards balance. Verified July 2026.

## Quick facts

- **Canonical URL:** https://bonusblueprint.co.uk/guide/chase
- **Referral code:** `R2MQHM`
- **Where to enter it:** Chase app → Rewards → Refer a Friend → I have a code
- **New-customer reward:** £50 paid into Chase Rewards balance, transferable to current account
- **Requirement:** cumulative £1,000 deposit within 30 days of opening the account
- **Eligible region:** United Kingdom (UK residents aged 18+)
- **Eligibility:** must never have applied to join Chase UK before 3 December 2025
- **FSCS protection:** up to £120,000 per eligible person, per authorised firm (Chase UK = J.P. Morgan Europe Limited, FCA/PRA regulated)
- **Last verified:** July 2026

## What you get

A **£50 cash welcome bonus** paid into your Chase Rewards balance once the £1,000 deposit condition is met. You can transfer it to your Chase current account in one tap and use it like any other money — spend on debit card, withdraw at an ATM, move it to Chase Saver, or send it back to another bank.

On top of the £50, Chase pays **current cashback offer** for eligible customers (currently up to 2% cashback on selected everyday categories, capped £20/month, subject to eligibility — see Chase's cashback terms). For a typical household spending £800/month on card, that's another **~£96 over the first year**.

## How to claim the £50

1. **Download the Chase UK app** (App Store / Google Play) and open a new Chase UK current account. UK resident, aged 18+, ID required.
2. **Enter referral code R2MQHM** in the Chase app under Rewards → Refer a Friend → "I have a code" within **30 days** of opening.
3. **Deposit a cumulative £1,000** into the Chase current account within 30 days of opening. Multiple inbound transfers count — only the total matters. The money does not have to stay in Chase.
4. **Receive £50** in your Rewards balance, typically within a few days (the terms allow up to 14). Tap Transfer to current account.

## Eligibility

- UK resident aged 18 or over
- New Chase UK customer — must never have applied to join before 3 December 2025
- Must open a Chase UK current account (savings-only doesn't qualify)
- Must enter `R2MQHM` in the Rewards section within 30 days of opening
- Must deposit a cumulative £1,000 inbound within 30 days
- Must keep the Chase account and Rewards programme active until the £50 is paid
- JPMorgan group staff and their known clients are excluded

## Why Chase UK

Chase UK is the British digital bank run by J.P. Morgan Europe Limited (a subsidiary of JPMorgan Chase & Co), launched in September 2021 as JPMorgan's first retail bank outside the US. By early 2026 it had passed 2 million UK customers and over £20 billion in deposits. Headline features:

- No monthly fee, no minimum balance, no overdraft
- Ongoing Chase cashback offer for eligible customers (currently up to 2%, £20/month cap, eligibility applies — see Chase's cashback terms)
- Zero foreign-exchange fees abroad (Mastercard wholesale rate)
- Round-up savings into the linked Chase Saver
- Competitive easy-access savings rate on Chase Saver
- FSCS deposit protection up to £120,000 per eligible person, per authorised firm
- FCA-regulated and PRA-authorised

## Chase £50 vs other UK bank sign-up bonuses

| Bank | Bonus | Requirement | Effort |
|---|---|---|---|
| Chase UK (`R2MQHM`) | £50 + Chase cashback | £1,000 cumulative deposit | Low — app only, no switch |
| Monzo | £10 personal / £50 Business | First Mastercard payment | Very low |
| Major high-street switch offer | £150–£200 | Full CASS switch, 2 direct debits, salary | High — affects credit file |
| Starling | No public referral bonus | — | — |

Chase does **not** participate in the Current Account Switch Service guarantee, so you don't need to switch your main bank — most UK users open Chase as a secondary card for the cashback and £50 bonus, and keep their salary going to a separate bank.

## FAQ

### What is the Chase UK referral code for 2026?

**`R2MQHM`** — enter it in the Rewards section of the Chase app within 30 days of opening a new current account, then deposit £1,000 within 30 days to receive £50.

### Does the £1,000 have to be a single deposit?

No. Chase checks the **cumulative inbound total** over the first 30 days. £500 today + £500 next week is fine, and you can move the money straight back out to your main bank — only the inbound total matters.

### Who is eligible?

UK residents aged 18+ who have never applied to join Chase UK before 3 December 2025. JPMorgan staff and known clients are excluded.

### Is Chase UK safe?

Yes — Chase UK is FCA/PRA regulated and eligible deposits are protected by the FSCS up to £120,000 per eligible person, per authorised firm — the same protection as Barclays, HSBC, Lloyds or NatWest.

### How long does the £50 take to arrive?

A few days after you meet the £1,000 deposit condition; up to 14 days under the official terms. You'll get a push notification when it lands in your Rewards balance.

### Can I combine the £50 with Chase cashback?

Yes — they are separate. The £50 is a one-off welcome bonus. Chase's cashback offer is a separate ongoing benefit on eligible spending, with its own eligibility rules and monthly cap that Chase can change — always confirm the current terms on Chase's official cashback pages.

### What if the code R2MQHM stops working?

We re-verify monthly. If Chase ever rotates the code we update this page immediately — and if you ever see "code not valid", check this URL for the latest one before assuming the offer is dead.

## Source and verification

This page is maintained by BonusBlueprint (https://bonusblueprint.co.uk). Contact: info@bonusblueprint.co.uk. We re-verify the code, bonus amount and eligibility rules against [Chase UK's official Refer-a-Friend Referrer Terms](https://static.chase.co.uk/documents/gb/en/refer-a-friend-2-referrer-terms-and-conditions/1.0.0.html) on an ongoing basis. Last verified: July 2026.