Chip Savings - Adding Money Issue

cs95aam

I opened a Chip Instant Access account and I linked it to my Barclays current account last week. I had a bad feeling about this at the outset but I've noticed I can only deposit £2000 each day using their Truelayer service. 

Is there any way I can transfer the whole amount without waiting days for this? Their customer service is non-existent. I sent a message this morning and I've heard nothing.

flaneurs_lobster

Think you are running up against Barclay's daily limit to "New" payees. See if this article helps

https://support.truelayer.com/hc/en-us/articles/4908423283473-How-can-I-add-a-new-payee-in-Barclays-

Band7

Apparently Barclays limit new payees to £2k. You could

1. keep trying in the hope they'll allow more on subsequent payments. Use suggestion posted by @f@flaneurs_lobster
2. use your Barclays debit card to deposit into CHIP (watch out, 3 days delay before it's credited)
3. use a different bank. I use Santander who allow up to £100k/day

Jmc85

I’ve had £4k into Chip via this means, although I’m Premier so perhaps have an increased limit? (That was the second payment in after a small £1 tester on the same day)

PloughmansLunch

Bog standard Barclays is £2k max no matter what. I couldn’t seem to add Chip as a payee due to the way Chip allocated funds - the payment is cleared through Clearbank and then filtered by a dynamic payment reference rather than sent direct to a dedicated personal account. 

Having recently experimented, I found out that you can make up to 10 deposits to Chip in any 24 hour period using any debit payment method in Apple Pay, so it is possible to fund from various sources, plus additional (linked) debit card transactions.

Band7

PloughmansLunch said:

  

Having recently experimented, I found out that you can make up to 10 deposits to Chip in any 24 hour period using any debit payment method in Apple Pay, so it is possible to fund from various sources, plus additional (linked) debit card transactions.

How quickly or otherwise do deposits via ApplePay clear? 

Band7

PloughmansLunch said:

Bog standard Barclays is £2k max no matter what. I couldn’t seem to add Chip as a payee due to the way Chip allocated funds - the payment is cleared through Clearbank and then filtered by a dynamic payment reference rather than sent direct to a dedicated personal account. 

I haven't tried it with Barclays but when I try it with Santander, I get the same sort code and account number for every CHIP deposit. Sort code and account number should be sufficient for Barclays, as per the Truelayer support article?

PloughmansLunch

Band7 said:

How quickly or otherwise do deposits via ApplePay clear? 

I’d guess ~3 days as per debit card, still showing as pending in the 2 originating banks from the weekend. 

Band7 said:

PloughmansLunch said:

Bog standard Barclays is £2k max no matter what. I couldn’t seem to add Chip as a payee due to the way Chip allocated funds - the payment is cleared through Clearbank and then filtered by a dynamic payment reference rather than sent direct to a dedicated personal account. 

I haven't tried it with Barclays but when I try it with Santander, I get the same sort code and account number for every CHIP deposit. Sort code and account number should be sufficient for Barclays, as per the Truelayer support article?

Barclays payment screen to Chip shows a complex gobbledegook reference hash along the lines of 6bdjsowv135iehs946fisbd that changes every single time. I have a feeling the account number you have obscured would be the same on anyone elses, or at least done in bulk batches (say several thousand customers per account), which would explain why they can’t accept Faster Payments.

I’ve funded crypto with GBP in the past and that also went through Clearbank (04-06-25), only that had a unique customer number as a payment reference to identify me after landing in the main holding account.

I might be completely mistaken and it may well be sufficient, but I wouldn’t want to risk it. I changed my linked bank anyway as the easiest solution to get around the small transfer limit.

Band7

PloughmansLunch said:

Band7 said:

How quickly or otherwise do deposits via ApplePay clear? 

I’d guess ~3 days as per debit card, still showing as pending in the 2 originating banks from the weekend. 

Thanks, that would make sense. Whilst ApplePay into CHIP would be much easier for my monthly Halifax card payments than depositing into NS&I, I am reluctant to use it as I don't think there's FSCS protection for card deposits.

 

Band7

cs95aam said:

flaneurs_lobster said:

Think you are running up against Barclay's daily limit to "New" payees. See if this article helps

https://support.truelayer.com/hc/en-us/articles/4908423283473-How-can-I-add-a-new-payee-in-Barclays-

Thanks for your reply. I did think of doing this and I noticed there was a specific sort code and account number each time I did the transfer. So I tried it and it said, The account you're trying to pay doesn't allow us to check if the details are correct. Have you attempted this yourself? Or anybody else?

I have tried it yesterday with 20p, and the money has left my Barclays account but there is no sign of it in my CHIP. 

I expect the payment to fail because there is no process in Clearbank for Faster Payments going to CHIP. But I do have a payee in my Barclays account now, so Barclays might now allow payments to CHIP in excess of £2K. However, I can’t test this further without changing my linked account in CHIP, which I won’t do as it’s not something I can do w/o CS, and I would need to change it back again. Way too much hassle for me - but the whole thing should be easy to test for someone who actually has Barclays as their linked account. Just use a tiny amount when setting up the payee in Barclays, so it doesn’t matter if it takes weeks for them to return the failed payment, or if they don’t bother returning it.

flaneurs_lobster

FWIW I was able to move £5K chunks into CHIP from my linked RBS current account last week pretty much instantaneously.