Chase Will No Longer Allow Points Redemptions Into External Accounts
Chase currently gives you several options to redeem Ultimate Rewards points. While transferring to travel partners is usually the most valuable path, you can also choose to redeem for a deposit into your bank account. And that can most external U.S. checking or savings accounts, not just Chase accounts.
But that is about to change soon:
Beginning ‌3/27/2‌6, 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.
This will probably not be a big deal for many, as you still have similar redemption options.
