Once you get over the £1000 tax limit you start to get taxed on everything after that point. I haven't hit that threshold yet and probably wont due to spending most of it in a little while and only being with the bank for a few months now.Is tax deducted automatically from that? As from what I read £100 a month would be over your savings allowance.
Seems it would get complicated if it did but then you didn't have it all in there.for a year and you'd actually be owed tax.
Edit* what is the chase app like? Play store seems full of reviews saying it's slow and often has service outages?
The chase app is fine, easy to transfer money. It does have outages (where you cant spend money) but I've only seen 1 since joining and it only lasted about an hour. Also its basically JPMorgan so its secure. Also has some nice features like giving you a pop-up when money goes in or out of the account (standing orders, payslip etc) which is nice as you don't need to manually check.
You also get 1% cashback on all purchases for a year (apart from insurance/gambling etc) which although small is still something, specially if you spend allot.