Invest in Chip Series A

surreysaver

Zanderman wrote: »

I'm with Chip purely for the benefit of a a direct debit on an account that I need a 'spare' DD not because I can't save. So I'm not their original target audience - and I assume I'm more savings-savvy than that target audience. I've had all their invitations to invest in the last couple of weeks - but I'm not going to touch them with a barge-pole. Too risky for me.

That's exactly the reason I originally joined Chip. But now there's less need for all these direct debits, due to the fact the interest on my BoS accounts has gone down to 1.5%, and my £5 bonus for having 2 direct debits on my TSB account has expired, coupled with the fact I now have 15 Post Office Online Savers means I'll be ditching Chip once my 3% interest for a year expires.

ecnirp98

Same here, I am only in Chip for the 3% bonus, as I am sure allot of people are.

Interesting that this investment offer is happening near the end of the 12 month 3% bonus period when the likes of MSE recommended them, so they will likely lose allot of savers like us when the 3% expires in the next few months, so their saving base/users will drop significantly, which will make it look allot less of a good prospect for investment.

Nardge

Hi all,

A couple of quick queries...

- My interest rate is still showing as 5% despite us having passed the 31st of December 2018.

That suits me fine evidently, but has anyone else's interest rate dropped to 1%?

- Also, in an allied thread, the interest is stated to be a 'Bonus' - is it therefore taxable?

I look forward to hearing from you,

With Kind Regards

P.S. Not long till we get the share certificates for those who've invested Fingers-crossed x