Chip discussion

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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Rate increase

3.82%

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Instant access seems to have gone up to 4% for me now.

No communication yet though.

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Yeah same here.

Can confirm the increase

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Seems like Chip are preempting and front running the expected rate rise 2 days ahead of time:

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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 :+1:

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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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