The Top Easy Access Savings Discussion Area

jimexbox

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

dgpur

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

Money you deposit via Chip is actually deposited in Clearbank which is fully FSCS protected. That’s why even though Chip aren’t protected, they are right in saying that your money is. Should Chip go under, not only will your money be safe, but we shouldn’t even lose interest, as that is held in Clearbank too.

OceanSound

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

dgpur

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

OceanSound

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

dgpur

OceanSound said:

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

Economical with the truth, sure. Like the way they plaster that they are powered by ClearBank all over their website and in the actual app. So desperate to hide the truth that they are.

OceanSound

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

Economical with the truth, sure. Like the way they plaster that they are powered by ClearBank all over their website and in the actual app. So desperate to hide the truth that they are.

'Plaster all over their website'. Good one. Let's try 'plastering' it on the main web page. 

OceanSound

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

Economical with the truth, sure. Like the way they plaster that they are powered by ClearBank all over their website and in the actual app. So desperate to hide the truth that they are.

'Plaster all over their website'. Good one. Let's try 'plastering' it on the main web page. 

I think I’m just going to leave you to your paranoia and unwarranted sense of superiority.

You could attempt to discuss the point(s) and not make it personal.

dgpur

OceanSound said:

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

Economical with the truth, sure. Like the way they plaster that they are powered by ClearBank all over their website and in the actual app. So desperate to hide the truth that they are.

'Plaster all over their website'. Good one. Let's try 'plastering' it on the main web page. 

One tap - on the banner recommending their most popular savings app - and you get:


”Covered by FSCS

All money you deposit in the Chip Instant Access Account is held by the UK authorised bank ClearBank, and is eligible for the Financial Services Compensation Scheme (FSCS) up to £85,000* subject to the scheme’s conditions.”

Pretty much no-one puts all their info for all their accounts on the front page, but instead provides links to various accounts, where you then see the necessary info. Nothing is hidden by Chip.

dgpur

OceanSound said:

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

dgpur said:

OceanSound said:

jimexbox said:

OceanSound said:

jimexbox said:

I don't use chip myself, but I'm at a loss as to why it's so hard for some to understand their business model. They are fully regulated by the FCA, they don't claim to be a bank or have FSCS protection. That is not their business model.

Their website says this:

FSCS Eligible

Eligible deposits in our savings accounts are protected under the Financial Services Compensation Scheme.

If that doesn't scream 'have FSCS protection ' then what will? 

The bank chip uses for deposits has fscs protection. So it's factually correct. 

How about If Chip goes under?

Factually correct, but economical with the truth?

They clearly tell you that the money is held with ClearBank. Who are the ones that actually hold your money. No-one is lying to you.

Economical with truth  dosen't ALWAYS equate to lying.

Economical with the truth, sure. Like the way they plaster that they are powered by ClearBank all over their website and in the actual app. So desperate to hide the truth that they are.

'Plaster all over their website'. Good one. Let's try 'plastering' it on the main web page. 

I think I’m just going to leave you to your paranoia and unwarranted sense of superiority.

You could attempt to discuss the point(s) and not make it personal.

I’d already thought better of it and deleted it. My frustration led me to be unkind - I apologise.