A little clarification with chip please

quirkydeptless

arealhighlander said:

Would someone confirm, if you have the Chip-AI account you only get charged the £1.50 if you use the AI bit to autosave money, if you just bang in £10k and switch off the AI bit you get a 1.25% savings account with no monthly fee?

No longer the case from 25th April, see last section of linked PDF in 'Read more here' section on 'https://www.getchip.uk/faq' under the sign saying 'Beware of the Leopard'

"We’re updating our price plans effective 25 April 2021 to change the free ChipAI trial to a 28 day window, and include ChipX and Investment Funds. Read more here."

DireEmblem

It almost seems a dead cert that Chip change their T&C several times a year.  What company upgrades your service/charges by default(selling it initially as a 'free trial') unless you pick up their last minute notification and 'opt out'?

gobeye

Thanks for pointing this out my hack to never trigger an autosave won't work anymore after that date. Can't be bothered messing around with this account anymore, it's not worth it.

This ISA offering they are launching also sounds pretty awful, who is going to pay both a £36 annual fee and a 0.25% fee to hold funds there!

quirkydeptless said:

arealhighlander said:

Would someone confirm, if you have the Chip-AI account you only get charged the £1.50 if you use the AI bit to autosave money, if you just bang in £10k and switch off the AI bit you get a 1.25% savings account with no monthly fee?

No longer the case from 25th April, see last section of linked PDF in 'Read more here' section on 'https://www.getchip.uk/faq' under the sign saying 'Beware of the Leopard'

"We’re updating our price plans effective 25 April 2021 to change the free ChipAI trial to a 28 day window, and include ChipX and Investment Funds. Read more here."

gc747

arealhighlander said:

Would someone confirm, if you have the Chip-AI account you only get charged the £1.50 if you use the AI bit to autosave money, if you just bang in £10k and switch off the AI bit you get a 1.25% savings account with no monthly fee?

The limit is £2000, I used the Martin Lewis code to get chip + my money is sat in the chip+1 easy access. When I signed up it had opened up the accounts I didn’t want (eventually it would of charge me so much a month after the free trail) I basically turned everything off, no auto saver, no chip AI I just have £2000 sat making at the moment 1.25k interest which I’m due to be paid for in July. 

Hope this helps