I’d never check Trustpilot about financial institutions as it is well known that disgruntled, often badly informed people are gathering there. As far as CHIP is concerned, it‘s not a Regular Saver but an instant access account, and has been discussed in the easy access thread. Spoiler: CHIP, who are not part of Clearbank, have a super instant access account.
I’d never check Trustpilot about financial institutions as it is well known that disgruntled, often badly informed people are gathering there. As far as CHIP is concerned, it‘s not a Regular Saver but an instant access account, and has been discussed in the easy access thread. Spoiler: CHIP, who are not part of Clearbank, have a super instant access account.
Hi Band7 Im still conflicted if I should open chip 3.4% is a great pull. Though im worried about the speed of transactions. This is what I found on one of the review websites
if money takes 2 days to reach its intended account from Chip, then higher interest rate advantage is just wiped off
Im still reading through threads here on chip, not able to find all the information i need.
How do you withdraw your money?
It’s easy to withdraw your money, with just a few clicks in the app to send the money to your conneted account. The speed depends on the account.
Sadly it isn’t instant for the easy access account. It’ll take two working days to reach your current account, though if you submit the withdrawal before 11am, it’ll move the next day.
Bear in mind that deposits take three working days to clear. So if you just put some money into the account and go to withdraw it on the same day, you’re looking at five working days. If that’s over a weekend you’ll need to add two days on top.
3.4% is a great pull. Though im worried about the speed of transactions. This is what I found on one of the review websites
if money takes 2 days to reach its intended account from Chip, then higher interest rate advantage is just wiped off
Im still reading through threads here on chip, not able to find all the information i need.
Deposits via Open Banking (not debit card) are near instantaneous after confirmation, and withdrawals are even faster (fewer taps and less loading time involved), 24 hours a day, 7 days a week. You can test it yourself by opening an account; it's a free account so you have nothing to lose (just make sure to disable auto-save in the settings).
I’d never check Trustpilot about financial institutions as it is well known that disgruntled, often badly informed people are gathering there. As far as CHIP is concerned, it‘s not a Regular Saver but an instant access account, and has been discussed in the easy access thread. Spoiler: CHIP, who are not part of Clearbank, have a super instant access account.
How do you withdraw your money?
It’s easy to withdraw your money, with just a few clicks in the app to send the money to your conneted account. The speed depends on the account.
Sadly it isn’t instant for the easy access account. It’ll take two working days to reach your current account, though if you submit the withdrawal before 11am, it’ll move the next day.
Bear in mind that deposits take three working days to clear. So if you just put some money into the account and go to withdraw it on the same day, you’re looking at five working days. If that’s over a weekend you’ll need to add two days on top.
What is this?! Who are your quoting? This guy? I'm new to Chip, but I've never heard of any 5%, "two working days to reach your current account" and "three working days to clear".
If you make the withdrawal before 5:00pm Monday to Friday, you should
receive the money in your connected bank account the same day.
We are born naked, wet and hungry...Then things get worse.
.withdrawal, NOT withdrawel ..bear with me, NOT bare with me .definitely, NOT definately ......separate, NOT seperate
should have, NOT should of .....guaranteed, NOT guarenteed
I’d never check Trustpilot about financial institutions as it is well known that disgruntled, often badly informed people are gathering there. As far as CHIP is concerned, it‘s not a Regular Saver but an instant access account, and has been discussed in the easy access thread. Spoiler: CHIP, who are not part of Clearbank, have a super instant access account.
How do you withdraw your money?
It’s easy to withdraw your money, with just a few clicks in the app to send the money to your conneted account. The speed depends on the account.
Sadly it isn’t instant for the easy access account. It’ll take two working days to reach your current account, though if you submit the withdrawal before 11am, it’ll move the next day.
Bear in mind that deposits take three working days to clear. So if you just put some money into the account and go to withdraw it on the same day, you’re looking at five working days. If that’s over a weekend you’ll need to add two days on top.
What is this?! Who are your quoting? This guy? I'm new to Chip, but I've never heard of any 5%, "two working days to reach your current account" and "three working days to clear".
I’d never check Trustpilot about financial institutions as it is well known that disgruntled, often badly informed people are gathering there. As far as CHIP is concerned, it‘s not a Regular Saver but an instant access account, and has been discussed in the easy access thread. Spoiler: CHIP, who are not part of Clearbank, have a super instant access account.
Hi Band7 Im still conflicted if I should open chip 3.4% is a great pull. Though im worried about the speed of transactions. This is what I found on one of the review websites
if money takes 2 days to reach its intended account from Chip, then higher interest rate advantage is just wiped off
Im still reading through threads here on chip, not able to find all the information i need.
How do you withdraw your money?
It’s easy to withdraw your money, with just a few clicks in the app to send the money to your conneted account. The speed depends on the account.
Sadly it isn’t instant for the easy access account. It’ll take two working days to reach your current account, though if you submit the withdrawal before 11am, it’ll move the next day.
Bear in mind that deposits take three working days to clear. So if you just put some money into the account and go to withdraw it on the same day, you’re looking at five working days. If that’s over a weekend you’ll need to add two days on top.
I guess this must be an old blog, or refer to different CHIP account. Deposits (via OB) to, and withdrawals from, the CHIP instant access account are instant, 24 x 7.
Rather than routing round the Internet to find articles that may or may not be helpful, can I suggest you make some small test transactions to see for yourself how it works, and whether the account is for you. I believe the minimum deposit for the CHIP instant access saver is £1.
Martin doesn't promote any accounts, the MSE website lists accounts that pay the best rates, it's down to you to decide if they are suitable.
BTW I'd really avoid using Trustpilot to make any financial decisions. London Capital & Finance had 5* reviews on there before they went bust because the people posting had no clue on the risks they were taking.
Remember the saying: if it looks too good to be true it almost certainly is.
Replies
Im still conflicted if I should open chip
3.4% is a great pull. Though im worried about the speed of transactions. This is what I found on one of the review websites
if money takes 2 days to reach its intended account from Chip, then higher interest rate advantage is just wiped off
Im still reading through threads here on chip, not able to find all the information i need.
How do you withdraw your money?
It’s easy to withdraw your money, with just a few clicks in the app to send the money to your conneted account. The speed depends on the account.
Sadly it isn’t instant for the easy access account. It’ll take two working days to reach your current account, though if you submit the withdrawal before 11am, it’ll move the next day.
Bear in mind that deposits take three working days to clear. So if you just put some money into the account and go to withdraw it on the same day, you’re looking at five working days. If that’s over a weekend you’ll need to add two days on top.
.withdrawal, NOT withdrawel ..bear with me, NOT bare with me
.definitely, NOT definately ......separate, NOT seperate
should have, NOT should of .....guaranteed, NOT guarenteed
Both articles are out of date.
Rather than routing round the Internet to find articles that may or may not be helpful, can I suggest you make some small test transactions to see for yourself how it works, and whether the account is for you. I believe the minimum deposit for the CHIP instant access saver is £1.
BTW I'd really avoid using Trustpilot to make any financial decisions. London Capital & Finance had 5* reviews on there before they went bust because the people posting had no clue on the risks they were taking.