Just received an email from Chip - “Your monthly interest payment is here”.
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Chip have increased their Instant Access account interest rate to 3.71%, effective immediately.
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If you do open a Chip account, don’t forget they have a £25 referral offer - though you need to keep a minimum of £5k with them for 180 days (which is a tad excessive) to qualify
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The gap is just widening between Chip and competitors. Makes me regret moving my money from the app.
It’s just customer service is so slow to respond I don’t feel comfortable with that, but at the same time what is the worst that would happen? I don’t think they’d just close my account and freeze all of my money especially if just done nothing wrong. However I have been moving around large sums of money lately.
Chip looks like they’re really pulling through on their claims. 3.7%+ is insanely good at the moment, much better than the 3.3% I’m at with Marcus.
Please someone talk some sense into me so I move my money back to Chip lmao
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I’ve only used them once to ask them to change my linked bank account and they responded within about 30 minutes.
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iOS app updated today. You can now make deposits to your instant access account via Faster Payments from your linked account instead of having to use Open Banking.
Can finally set up a regular deposit without having to pay their fee.
I just manually sweep what’s left in my current account the day before I get paid.
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Where can I find the sort code and account number
It’ll give you the information you need when you choose that option to make a deposit.
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Looks like Chip still needs to fully update the entire app to reflect new features haha (still tells us to only add money from within the app despite ability to now add money via account number)
Anyone get their interest pay out yet? Or is it not today?
It is always the 4th working day of the month, as I said last month (and as it says in the T&Cs and Help Centre).
Ohhh I got confused with the 4th day of the month. Thanks
Interest paid in the early hours of this morning.
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Love to see it
Since now we can manually deposit, can we just set up standing orders and stop recurring saves since they cost money?
Yep I’ve done that… set up at SO. Never had the reoccurring payment as I didn’t want to pay for it
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Instant access seems to have gone up to 4% for me now.
No communication yet though.
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