Chip - guaranteed £25

WelshGlyndwr

I signed up to chip through the mse website. Deposited £10k .How do i know i will get the £25 bonus?  Does something tell me?

DireEmblem

The term and conditions that you signed up to should include details of the offer.

tibbyltd

Any real answers?

MX5huggy

No idea read the MSE stuff sounded like the most complicated £25 I’d ever gain. 

colsten

Easier to open a TSB current account through Quidco (£20) and then making sure you get the monthly fiver for the max 6 months they are payin it.  Total £50.

JamesY201

I opened the account a month back with £10k and see £2.40 every Tuesday show up as a bonus payable on 29/6/21. I seem to remember when signing up that you need to hold the money there until June to get the £25 cashback which I’m assuming will show up in the bonus section. 

jamesduty

Did anyone hunt down a reference to this? I can't see any reference to the £25 signup bonus with the Chip app itself. I seem to recall it was £5 per £2,000, but this info is no longer on the MSE site either aside from the original weekly emails www.moneysavingexpert.com/tips/2021/03/24/#chip

Mosler

jamesduty said:

Did anyone hunt down a reference to this? I can't see any reference to the £25 signup bonus with the Chip app itself. I seem to recall it was £5 per £2,000, but this info is no longer on the MSE site either aside from the original weekly emails www.moneysavingexpert.com/tips/2021/03/24/#chip

https://web.archive.org/web/20210331165921/https://www.moneysavingexpert.com/savings/savings-accounts-best-interest/#chip

Chip+1 savings account pays 1.25% on up to £10,000, plus get £5-£25 MSE Blagged cashback (newbies only)

Chip is a savings app you connect your current account to through Open Banking. It's known for autosaving, where it uses an algorithm to work out how much you can afford to save. Normally these apps don't pay interest, or very little, but its Chip+1 account* (accessible via the code MSE25) pays 1.25% variable if you're new to Chip. We've also blagged a bonus £5 cashback for every £2,000 you save for MSE users (max £25 bonus). Though there's a lot you need to know before you sign up...

• You can normally only get this if a friend refers you or you them, but MSE is your friend... Newbies wanting to access Chip+1 normally need to do so via its refer-a-friend scheme. Yet we've managed to get it to give us the code MSE25, which cuts out all that faff if you're new to Chip – put it in the VIP code box once you've downloaded the app and registered via Chip+1*.
  
  
• You can get 1.25% interest on up to £2,000 for free or up to £10,000 for a fee. The Chip+1 account is made up of two different plans:
  
  - ChipAI. This is the default plan which pays 1.25% variable on up to £10,000 (0% above this) and charges a £1.50 fee every four weeks – though the first four weeks are a free trial, so the fee kicks in after that.
  
  The ChipAI plan gives you access to Chip's autosaving features. If you want this, ensure you specify autosaves should go to the 1.25% account during sign up. If you just want to manually pay in, you can pause autosaves once you've registered for ChipAI (go to your profile in the app, then select 'Auto-save settings' then 'Skip auto-saves' and choose a date - you can pause for up to three months at a time).
  
  - ChipLite. Chip also offers a fee-free plan (no autosaving) which also pays 1.25% variable, but only on up to £2,000 (0% above this).
  
  
• We've also blagged ChipAI users a £5 bonus for every £2,000 saved (max £25). To qualify, sign up via our link above by 11.59pm on Thu 8 Apr. The cashback's calculated on the amount in your account on 8 Jul 2021. Then the bonus is added to your Chip+1 account by 22 Jul 2021.
  
  
• If you've more than £3,750 to save, you'll get better returns with ChipAI. If you've less, putting £2,000 in ChipLite and putting the rest in a top easy-access savings account paying 0.4% works out better.
  
  But anyone with £3,750+ will be better off with ChipAI, once the fee and the bonus cashback have been factored in. If you can save the full £10,000 with the ChipAI plan, with the cashback and the fee taken into account, you'll receive an unbeatable effective interest rate of 1.3% in year one.
  
  
• It's easy access so you can take cash out when you want, but it's best to time withdrawals. The interest is calculated weekly (on a Tuesday) and is payable every 90 days, but if you close an account before it's paid you get nothing for that period. So withdrawals are best made shortly after interest's been paid, if possible.
  
  The interest's held in a separate account, so it DOES NOT compound (ie you don't get interest on the interest), but at 1.25% it still dwarfs what others are paying. If you're concerned, you could withdraw the whole balance and interest and redeposit it if you want to get interest on the interest (unless you already have the maximum £10,000).
  
  
• The money you put in is fully UK savings-safety protected. Chip has partnered with ClearBank to run its Chip+1 account. As ClearBank has a full UK banking licence, money held there gets the normal UK savings safety protection like other savings. 
  
  
• The interest you get isn't savings-safety protected. Chip is technically giving you a marketing bonus for saving. And while your balance will update each time interest is paid out, the cash doesn't go into the ClearBank account – it's held separately, in a ring-fenced high-street bank account.
  
  If you want to protect the interest, you'll need to withdraw ALL your savings and interest, then redeposit it all into your Chip+1 account to get the protection (it's not possible just to withdraw the interest and pay that back in).
  
  
• To use Chip+1, you'll need to connect your bank account. Chip connects to most (but not all) bank account providers. These are Bank of Scotland, Barclays, Danske, First Direct, Halifax, HSBC, Lloyds, Marks & Spencer, Monzo, Nationwide, NatWest, RBS, Revolut, Santander, Starling, TSB and Ulster Bank.
  
  
• What is autosaving? Autosaving apps use clever tech to work out what you can afford to save and then do it for you, er, automatically, moving money from your bank account to a virtual savings account. The idea is that you start building up savings without really noticing the cash is going – useful if you find it difficult to put money aside or don't know how to start saving.

jeanjeanieredhead

I signed up for chip +1 through money saving expert link and code and have deposited the maximum amount for 1.25% bonus. No mention of £25 on Chip how will I get this. MSE stated by June but no sign of it?

HHarry

As per the post directly above yours - it’s calculated on the 8th July and paid on the 22nd.

BlueNoseChas

I put 10K in back in late March and it's showing a bonus of + £28.44 was paid in a couple of days ago on June 29.