Chip discussion

They seem to be doubling down on the advertise by friends model

I loved this April fool.
My 6 year old son loved the YouTube video. He now thinks that you can do this to any card! :face_with_hand_over_mouth:

Updated app arrived in iOS AppStore today but still no Monzo integration :roll_eyes:

I saw them respond to an enquiry earlier today by saying ‘by end of April, give or take a week’

They’ve been saying that for a year :rofl:

Exactly! The whole reason for this very thread! I stopped waiting for them and did the full switch to Monzo last month

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Probably see if CLEVER3 is working first - 3% straight away.

Was working early March.

You may be able to close your Chip account and just open a new one with a new code…
I think that’s what I did :slight_smile:

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So ‘Emma’ have announced this morning that they are now integrated to Chip, so perhaps the ‘end of April’ suggestion may be more promising. Fingers crossed.

Chip in beta on Emma just shows your Chip balance. Would be nice to see a bit more info, tbh

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Chip just announced that they are moving everyone to Swift card processing for transfers in/out of bank account/chip. In relation to this and someone else’s challenge to a lack on Monzo integration they responded:

This move is a major step towards getting Monzo added! Once this update is complete you’ll be able to use Chip with any UK bank - but we’ll update more on that soon.

[Chip - We've made a big change: you will now need to... | Facebook]

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they said they would have news this week sometime, as its Friday tomorrow I am guessing its slipped again

They have released information on a pretty interesting new feature. No Monzo integration yet though. I genuinely think Chip is moving in the right direction and is en route to being profitable.

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Genuine question. How does Chip make money?

I’ve never been able to use the service as my address doesn’t exist in their system.

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Yeah I saw that, will be interesting few months for them I think.

The twitter link above shows they now in final testing for monzo, starling, revoult, N26 should be next week or two.

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They don’t at the moment. They are building their premium account, I think it’s called X.

I think they were also looking at building a marketplace.

End of referral-based bonus rates is nigh. Was always going to happen at some point. Interesting to see they will be introducing FSCS-protected savings accounts.

https://www.getchip-community.uk/ending-bonus-rate

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I think they have some really interesting ideas. Chip X is, as I understand it, a move towards P2P lending - so you’ll be able to loan out money that you’ve got stashed in Chip for better rates. Not only that, I think I’m right in saying that they were looking at decoupling your overdraft - meaning that Chip would use open banking to detect when you’re going overdrawn, and loan you the money you need at a better rate than your bank.

All potentially quite clever stuff.

(But it’s all :soon: - must be burning cash at the moment)

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The current multiple goals, each with a 5k limit, make no sense with the current 10k total limit.

I have goals of 25k just got fun, because I currently could never achieve them with chip anyway.

Please god, not with gifs for each transaction!