The Top Easy Access Savings Discussion Area

SeriousHoax

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

aaj123

NameWithheld said:

aaj123 said:

I find the 'Skipton Base rate tracker (guaranteed BOE - 1.25% for 24 months) Flexible ISA' to be a very good candidate as the account to use all through the year as your saver. It will move along with BOE for 2 years (not to be sniffed at) and allow withdrawals and replacement all through the year due to being Flexible and you get the current 3.0% rate tax free. And add to this the perk of being able to deposit using a debit card so acts as a solution for your Halifax reward saver criteria too.

I'm using that for my instant access funds. But an earlier version with a better rate. BOE - 0.9%

I really think now is when Flexible ISAs will really come into their own for many. They were introduced in 2016 but its only now that interest rates have come back to a level where their benefit really jumps out. In particular anyone who is higher or additional rate tax payer would greatly benefit from using these as their instant access account. The Skipton one has the icing on the cake due to its 24 month tracking guarantee which ensures it will also be near market leading all the time. 

OceanSound

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

SeriousHoax

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

Band7

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I hope it occurred to them that they should change their system 

SeriousHoax

Band7 said:

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I hope it occurred to them that they should change their system 

Totally agree.😃

OceanSound

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

We're not their lapdogs. 

Repeatedly supplying the same documents for same purpose is a waste of time and resources for everyone. 

You did the right thing in going elsewhere, without being bullied by their demands. 

I had similar incident a while ago with Revolut. Account become locked suddenly and revolut support asked me to send ID. I sent the documents and it was unlocked. 

I then topped-up account. Two £10.00 payments, then a payment for £230 then a payment for £50.00. After that payment the account became locked again.  

Contacted support, and the next day it was unlocked. Used account for 9 days without issues, then again it becomes locked for third time. Contact support again, and this time support staff asks me to send a picture of my face with me holding the passport next to my face. No way was I doing this. I've since provided other fintech's several selfie videos, but when she asks me to do that, it was 'No!, I'm not doing that'. 

Asked to chat to a manager and was put through to a compliance manager, and he started quoting E-money regulations and AML 2010 Act.

I asked him to return the money to source immediately. He did just that. Note that if I hadn't' asked he would never have offered me. So, anyone in same situation - make it a point to ask.

This happened in 2018 BTW. I've never gone back to revolut since. 

Been with Monzo and Wise since, and had little issues. Although, recently Wise did hold a couple of transactions I did from my Halifax bank account to my Wise bank account (both accounts I've used to do this for years). I don't keep much funds in the Wise account(s) but tend to do a transfer from Halifax to Wise as and when needed. I suppose I could always keep some funds in Wise without doing the transfer as and when necessary, but then without the FSCS protection AND no interest paid (yes, okay, this is now changing with Wise offering accounts that pay interest - but they are investment accounts where the yield can go up/down), why should I?  (when there may be other providers that offer similar but with more consistency).

allegro120

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

My journey with Chip has been smooth so far. I didn't get any of this "wealth check" nonsense from them, but if I did it would put me off.  They offer a leading IA rate, but I'd rather be saving at 0.2% less than going through all this.  If they want more cash they shouldn't make it difficult for customers to deposit.

Band7

allegro120 said:

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

My journey with Chip has been smooth so far. I didn't get any of this "wealth check" nonsense from them, but if I did it would put me off.  They offer a leading IA rate, but I'd rather be saving at 0.2% less than going through all this.  If they want more cash they shouldn't make it difficult for customers to deposit.

"going through all this" involved me writing an email to them explaining where my funds had come from. Half as dramatic as it appears. Minor nuisance, and nothing compared with the hours I had to spend with current account providers to release payments to my own accounts at other banks. If I turned my back on every bank that annoyed me at times, I'd only have a very small number, if any, left to do business with. The only ones who annoyed me too much are Kroo, where I closed my account because of their stupid blocking of incoming payments, coupled with slow and useless CS.

OceanSound

Band7 said:

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I hope it occurred to them that they should change their system 

If we complain about system, some providers (e.g. The Co-operative bank) would try and fob us off with a 'We'll pass this on as feedback'. They don't even acknowledge complaints (even when FCA rules say each and every complaint must be acknowledged). 

Complain to the Financial Ombudsman and it's a 'we can't ask them to change their system'. When I complained about how slow (when passing security) the Co-operative bank's computer system was when I had called once,  I even had one adjudicator tell me 'technical issues are beyond the bank's control'.

SeriousHoax said:

OceanSound said:

SeriousHoax said:

Oh well here we go again I'm back with chip.

Last week I closed my chip account after getting a second source of wealth email & that was after passing the first source of wealth. ( I got fed up and decided to close)

Maybe they thought I was a bad egg when I was putting in 25k a time for a few days.😄

This time I'll deposit then wait a few days before the next deposit.

My partner done that and she was never targeted with a source of wealth. 

( not that I've got anything to hide I'm just a normal bloke going for EA highest interest)

Don't mean to be the buzz kill, but I reckon the source of wealth/know your customer (kyc) type requests are both triggered by certain actions AND also can be random.

It'll be interesting to see if you'll receive the same email again because chip system 'remembers' you from last time as the customer who closed their account after being asked for source of wealth. I guess we'll never know if it is due to the latter or because it's random, but would be interesting to see what happens nevertheless.

Yes it will be interesting to find out what happens.

I think I just got peed off the last time after giving them my information and proof on how I was funding my account then I had to wait 10 days for them to get in touch and say oh yes everything's ok your fine to keep banking with us.

Then I got a second email that was the exact same as the first wanting the same information. 

I sent them a message and they got in touch after a couple of days saying it's just the system.😏

I've just had a look through my emails with Chip support staff when i used their account back in 2019/20. Seems there was an issue with bonus interest been credited on App. When I contacted support they were really vague with a 'this will be sorted out soon'. No particular date. 

I can see that this had led me to move money elsewhere. 

What they don't seem to realise is that they are not the only bank/fintech out there. They are not the likes of Google or Facebook. Actually, there are some privacy based search engine providers and the like coming through lately so not even Google is gonna be a monopoly for long.