Yeah same here.
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Just got a notification to say Chip Easy Access has gone up to 4.21% AER now…
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I don’t trust them , twice they said they closed my account yet it’s still there
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Chip Easy Access now 4.26% AER
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Ha ford just increased to 4.19 and I wondered if they would shift.
4.51% now
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Their tenth rate rise - margins must be thin on this for them but sounds like it’s a gateway/funnel into other wealth elements they aim to cross sell.
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Must be burning though the last funding round pretty fast.
How long do you think their runway is
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Chip moving faster than the competition again 
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They ended 2022 with £6.8m in the bank.
Their operating loss was £15m for year ended 31 Dec 2022 so can’t be much left. A raise is on the near horizon surely.
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That was my line of thought, the detail above is interesting. Some loss leader then, must be confident that further VC is on the horizon.
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Hi guys,
Does anyone happen to know how to downgrade from Chip X to the free plan. There literally seems to be no option to do this on iOS. I decided to try the Chip X free trial and now I can’t seem to cancel it. I have been to the profile page and clicked on change plan, then it just shows the two plans but with no option to select one or the other. Thanks guys
From what I remember (and this was a couple of years ago), I had to ask CS to downgrade me back to the free plan.
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Thanks for that, I have just sent them an email.
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Have just withdrawn a ‘significant amount’ from my Chip account as they are no far behind the interest rate. Now, perhaps as I am not a millionaire, perhaps my near £?k, it is a not inconsequential 5 figures, isn’t important but you might have thought they might have questioned my reasons - shame
Nobody expects the SI but I wonder if I had withdrawn £1M (I don’t have such an amount but) will they have asked the reason. I would have thought, in the current climate, 0.5% is significant and that people, like me, will move when it only takes a few minutes to do so.
It’s the net inflows of deposits that is the metric Chip will be monitoring. As you point out, your own withdrawal in of itself is inconsequential if at the same time someone else deposits the same or more.
I presume Chip are happy with the amount of inflows they’re seeing versus outflowing withdrawals. Can’t please everyone all the time.
Today, we’re pleased to announce that the Chip Instant Access Account is getting its eleventh rate rise. Building on the success of our Wealth Codes promotion, we wanted to give our community the best of both worlds, boosting your interest rate alongside an additional bonus.
The new higher interest rate of 4.84% AER (4.74% gross variable paid monthly) is effective today (22 August 2023)
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