CHIP bank account - withdrawl problems and poor customer service

plusman

MSE recommended the CHIP AI app as it gives a high rate of interest. I opened an account with them some months ago and following an email fromt hem last week that they were closing their e-wallet and advising people to withdraw their balance. So on Thursday I arranged a withdrawl from Chip to my nominated bank account. Their app says that any withdrawl should happen on the same day or at the latest by the next. By late-Friday I had still not received the money in my account. I messaged their customer service in the app and after 2 hours got a message saying they would eb back on Monday. I am still waiting for a response.

Has anybody else had issues with withdrawls from Chip or with their customer service.

I am particularly worried as MSE recommended the app/account and many people might possibly be affected by the poor service - or is it just me?

eskbanker

plusman said:

CHIP bank account...

Chip isn't a bank, it's a savings platform, so all the other threads about it are (correctly) on the savings board rather than the bank account one....

crumpet_man

Is the e wallet an instant access account.  If not "Withdrawals from Chip+1 accounts - if withdrawn before 11am take 1 working day, and if after 11am take 2 working days to reach your current account"

plusman

It is supposed to be an instant access account - as you say, should be in your linked bank account by end of the following day. I initiated the withdrawl last Thursday; it is now Tuesday and I am still waiting. 

HampshireH

Their contact us page says to message via their chat bot to be put through to a member of staff in the support team

What have they advised you?

colsten

Are you sure that you are actually dealing with CHIP? I might be wrong but I don't think anyone else mentioned anything about closures of CHIP accounts on the main CHIP threads over on the savings board. Perhaps if you ask your question there, you might be able to make some progress.

Zanderman

I'd echo colsten's query above - was the 

email from them last week that they were closing their e-wallet and advising people to withdraw their balance.

really from Chip?  
I've not heard this from any other source, so is it possible you're responding to a scam?

Ed-1

Zanderman said:

I'd echo colsten's query above - was the 

email from them last week that they were closing their e-wallet and advising people to withdraw their balance.

really from Chip?  
I've not heard this from any other source, so is it possible you're responding to a scam?

Yes it was:

fiendishlyclever

I tried Chip attracted by the high 'interest' rate and a bonus. Wasn't impressed - despite being linked to my current amount it took random amounts of money that had no relationship to the actual balance (when when my balance dropped to below £100) The AI isn't that intelligent and now I've got my bonus I'm off and closing my account for something more conventional.

With lots of banks offering to round up transactions etc, I don't see a place for Chip in my life. Perhaps I'm too old and savvy? 😀

Umiamz

The MSE recommendation is to use Chip+1, which isn't closing, not the e-wallet, which is the one that's closing. The e-wallet doesn't pay any interest at all.

As for the AI not being very 'I', it's easy enough to use the AI options to prevent any money being taken from your linked account.

I'm old and savvy enough to be able to operate the account in the way that MSE intended