Chip app

fredwarwick

Hi I joined Chip as MSE says it is top easy access account.  Being wary I wanted to test it so I invested £1.  When I tried see my balance or withdraw the £1 it would not let me do so without me giving access to my current account for them to analyse.  I do not want this service or give them access to my account I just want to save and withdraw when it suits me like a normal EA account.  Have I got this wrong if so can anybody guide me please?  Thank you

Band7

You can revoke the authorisation in your current account, and it expires after 3 months, anyway, unless you renew it.

You can also set up a spare current account, perhaps with your existing current account provider, to link to CHIP. That's what I do, and all they can see is that I deposit and withdraw lots with them, and with another current account to which they have no access.

But in general I wouldn't worry too much about what they can glean. If you have a Tesco Clubcard, Tesco probably know more about you than any bank ever will.

fredwarwick

Band7 said:

You can revoke the authorisation in your current account, and it expires after 3 months, anyway, unless you renew it.

You can also set up a spare current account, perhaps with your existing current account provider, to link to CHIP. That's what I do, and all they can see is that I deposit and withdraw lots with them, and with another current account to which they have no access.

But in general I wouldn't worry too much about what they can glean. If you have a Tesco Clubcard, Tesco probably know more about you than any bank ever will.

Thank you for your reply.  Regarding the spare current account, that thought had occurred to me as I do have a couple I had set up to take advantage of perks!! :-)  When you say revoke, do you know, can you give access do the transactions and then revoke immediately?  Thank you

flaneurs_lobster

fredwarwick said:

Band7 said:

You can revoke the authorisation in your current account, and it expires after 3 months, anyway, unless you renew it.

You can also set up a spare current account, perhaps with your existing current account provider, to link to CHIP. That's what I do, and all they can see is that I deposit and withdraw lots with them, and with another current account to which they have no access.

But in general I wouldn't worry too much about what they can glean. If you have a Tesco Clubcard, Tesco probably know more about you than any bank ever will.

Thank you for your reply.  Regarding the spare current account, that thought had occurred to me as I do have a couple I had set up to take advantage of perks!! :-)  When you say revoke, do you know, can you give access do the transactions and then revoke immediately?  Thank you

You could but the revoking (or changing) of bank accounts has to be done by Chip via online chat. There's no "Revoke" button. I've changed banks once and that took some hours.

k_man

You can (with most banks) revoke access at the bank side.

fredwarwick

flaneurs_lobster said:

fredwarwick said:

Band7 said:

You can revoke the authorisation in your current account, and it expires after 3 months, anyway, unless you renew it.

You can also set up a spare current account, perhaps with your existing current account provider, to link to CHIP. That's what I do, and all they can see is that I deposit and withdraw lots with them, and with another current account to which they have no access.

But in general I wouldn't worry too much about what they can glean. If you have a Tesco Clubcard, Tesco probably know more about you than any bank ever will.

Thank you for your reply.  Regarding the spare current account, that thought had occurred to me as I do have a couple I had set up to take advantage of perks!! :-)  When you say revoke, do you know, can you give access do the transactions and then revoke immediately?  Thank you

You could but the revoking (or changing) of bank accounts has to be done by Chip via online chat. There's no "Revoke" button. I've changed banks once and that took some hours.

Thank you but because I haven't given the authorisation the app is "locked" at that page so I cannot have live chat.  Emailed yesterday but no response yet.  I do think MSE should point out the restrictions on this account, IMO its not "easy access"