No More Cash Back to External Bank Accounts, Effective 27 March 2026
Received an email this morning with the following:
”Beginning .3/27/2.6, you will no longer be able to redeem for a cash back deposit from your Chase Freedom®, Chase Sapphire®, or Chase Ink® credit card(s) to an account held by a financial institution other than Chase. You can continue to redeem for a cash back deposit to an eligible U.S. Chase account or redeem your rewards as an account statement credit.”
To me this is a huge devaluation. I personally will never open a traditional bank account with Chase. Guess it’s time to make one final cash back transaction and then going forward utilize statement credits or other rewards options.