Chip savings app

thekelzstar

OceanSound said:

Scutter_MK wrote: »

It was the mind-blowing sum of £131 - the interest / bonus earned in my year with Chip.

They did actually get back to me on Thur and promised it would be paid within 48 hours.

Guess what? still no money!

tbh I'll just let the ombudsman sort them out in a couple of weeks time.

They're still grappling with a system issue to do with bonus payouts. i.e. bonus does not payout on the date mentioned on app. When i logged in to app in Early November, it said payout of £37.05, payout date: 25/11/2019. I checked app on 27/11. Balance was the same (no bonus had been added).

Contacted support. Was told it will be resolved 'as soon as possible'. A vague reply (similar to the question 'how long is a piece of string?)
When asked to be specific, and if he means next week or next year, was told 'Technically it could mean 2021, however in this case it will be in the coming week or so'.

Suffice to say, they should really proactively inform customer about this issue, rather than wasting our time to contact them then giving vague/shoddy answers.

I may actually move to Zeux. Heard good things about it.

What is your opinion on Zeux? I opened an account due to the high 5% nterest rate and £40 credit (code: 54MMOY)  but so far it seems a little too good to be true particularly as the interest is paid daily. My main concern is the lack of FCSC protection but I guess this is the same with Chip?

OceanSound

thekelzstar said:

OceanSound said:

Scutter_MK wrote: »

It was the mind-blowing sum of £131 - the interest / bonus earned in my year with Chip.

They did actually get back to me on Thur and promised it would be paid within 48 hours.

Guess what? still no money!

tbh I'll just let the ombudsman sort them out in a couple of weeks time.

They're still grappling with a system issue to do with bonus payouts. i.e. bonus does not payout on the date mentioned on app. When i logged in to app in Early November, it said payout of £37.05, payout date: 25/11/2019. I checked app on 27/11. Balance was the same (no bonus had been added).

Contacted support. Was told it will be resolved 'as soon as possible'. A vague reply (similar to the question 'how long is a piece of string?)
When asked to be specific, and if he means next week or next year, was told 'Technically it could mean 2021, however in this case it will be in the coming week or so'.

Suffice to say, they should really proactively inform customer about this issue, rather than wasting our time to contact them then giving vague/shoddy answers.

I may actually move to Zeux. Heard good things about it.

What is your opinion on Zeux? I opened an account due to the high 5% nterest rate and £40 credit (code: 54MMOY)  but so far it seems a little too good to be true particularly as the interest is paid daily. My main concern is the lack of FCSC protection but I guess this is the same with Chip?

After doing some research, decided not to go with Zeux. Main snag was not being able to actually withdraw the £40 credit at any point. You just get interest from it. Also, the Zeux website FAQ didn't disclose who the funds were held with. Apparent, it's Barclays. No idea why Zeux decided to leave this info out of the FAQ. 

Update re. Chip: Support manually transferred the bonus amount that was due + bonus accumulated since then to my bank account. That was done pretty sharpish, so full marks to Chip for doing that.

Instead of Zeux, I decided to go with Charter Savings bank. It only pays 1.4% (for deposits over £5000) but is backed by FSCS.