Chip Savings - Adding Money Issue

Band7

flaneurs_lobster said:

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

Much larger instant deposits from some others, such as Santander

cs95aam

Yes maybe another bank account is the only way. I have a Metro bank account. I don't have any other current accounts.

I tried transferring 1p from Barclays to Chip this morning using just the sort code and account number and it still hasn't arrived. Safe to say that method will not work.

cs95aam

Monzo is on the list of Open Banking system compliant banks. Has anybody tried via Monzo? Don't think Metro is supported.

jimjames

flaneurs_lobster said:

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

Same here

cs95aam

Does anybody know how to change the account Chip is currently linked to? So if I wanted to switch from Barclays to Monzo for example.

flaneurs_lobster

cs95aam said:

Does anybody know how to change the account Chip is currently linked to? So if I wanted to switch from Barclays to Monzo for example.

Chip App, Profile, Your linked bank, it'll tell you all about it.

jaceyboy

Is it really worth it? Chip seems like a top rate but the hassle of transferring seems to outweigh the pro's, I was going to transfer in £86,000 but would of taken me forever, so will stick with Tandem or Zopa for now

boomish

jaceyboy said:

Is it really worth it? Chip seems like a top rate but the hassle of transferring seems to outweigh the pro's, I was going to transfer in £86,000 but would of taken me forever, so will stick with Tandem or Zopa for now

I thought the same but  that difference of percentage add's up to quite a bit each month for us. It was tricky going from Barclays via the Chip app & open banking, it can do the first 10k of the day then it hits it's limit the rest we did in 5k chunks via Debit card, switching apps to authorise, actually a bit quicker than open banking, didn't take long to finish off the transfer this way, ten mins max.

PloughmansLunch

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.

Just a small amendment - it seems to be a maximum of 10 card payments from any source in a 24 hour period. I made my usual Halifax debit card, and could only make a further 9 Apple Pay deposits before getting the red whoopsie screen.

allegro120

cs95aam said:

Yes maybe another bank account is the only way. I have a Metro bank account. I don't have any other current accounts.

I tried transferring 1p from Barclays to Chip this morning using just the sort code and account number and it still hasn't arrived. Safe to say that method will not work.

The minimum amount you can deposit is £1.