Chase Is Removing Cash-Back Deposits to Certain External Bank Accounts — What It Means for You

Updated: May 15, 2026, 12:08pm CDT

Edited by:

Jump to Section

Table of Contents

Chase Will No Longer Allow Cash-Back Deposits to Certain External Bank Accounts
Final Thoughts

We may be compensated when you click on a link, when an application is approved, or when an account is opened from one or more of our advertising partners. Terms apply to the offers below. See our Advertising Policy for more about our partners, how we make money, and our rating methodology. Opinions and recommendations are ours alone.

If you’ve been redeeming your Chase Ultimate Rewards points as straight cash into a non-Chase bank account (we hope not — but no judging), there’s a change coming that could affect you.

Beginning March 27, 2026, that option will no longer be available.

Here’s what’s changing — and what you should do about it.

Chase Will No Longer Allow Cash-Back Deposits to Certain External Bank Accounts

Chase is making a subtle change to one of its lesser-known redemption options.

Beginning March 27, 2026, you’ll no longer be able to redeem Ultimate Rewards points from eligible cards like the Chase Freedom Flex^®, Chase Freedom Unlimited^®, Chase Sapphire Preferred^® Card, or Chase Ink^® credit cards as a cash-back deposit into a bank account held at another financial institution.

Chase Credit Cards Upgraded Points LLC Large 2 — Starting March 27, 2026, Chase cardholders won’t be able to redeem Ultimate Rewards points as cash deposits into non-Chase bank accounts. Image Credit: Upgraded Points

Right now, you can redeem points for cash and have them deposited into most U.S. checking or savings accounts — not just Chase accounts. That flexibility is going away.

After the change takes effect, your cash-back options will be limited to:

Depositing into an eligible U.S. Chase checking or savings account
Redeeming as a statement credit

For most readers, this won’t be a big deal. Ultimate Rewards are typically more valuable when transferred to airline and hotel partners, and many cash-back users already redeem as a statement credit.

But if you don’t bank with Chase and prefer having your rewards deposited into a separate, non-Chase account, you’re losing that flexibility. Yes, a statement credit basically does the same thing — it lowers your balance dollar for dollar — but some people prefer seeing that cash land in a different account instead of just offsetting their card bill. If that’s been your routine, you’ll need to adjust.

Hot Tip:

If you regularly cash out Ultimate Rewards into a non-Chase bank account, consider redeeming any points you were planning to withdraw before March 27, 2026. After that date, statement credits or Chase account deposits will be your only cash-back options.

Final Thoughts

This isn’t a devaluation, and it doesn’t affect transferring points to airline and hotel partners — which is how most of us are using Ultimate Rewards anyway. It also doesn’t affect using your rewards in the travel portal or toward merchandise, but it does cut down on some flexibility.

If you’ve been cashing out Ultimate Rewards this way, you have until March 26, 2026, to redeem points into a non-Chase bank account before the option goes away.