Chip savings app - is it worth it?

Rollinghome

allegro120 said:Of course it doesn't.  I wouldn't spend a penny on services like this.  However, people have different approaches to managing their finances, some don't have any strategy - so something like Chip autosave can be useful for some, otherwise it wouldn't exist.

I have to advise you that all sorts of services exist without in any way being useful.

MiserlyMartin

Unless I've misunderstood, because it's late at night when I just signed up with Chip, it's not worth it, because you have to pay a 0.5% platform fee. I tried to delete my account but it said error!. Your 3.7% will be really 3.2% after the fee. May as well go with shawbrook for 3.5% no fees

refluxer

MiserlyMartin said:

Unless I've misunderstood, because it's late at night when I just signed up with Chip, it's not worth it, because you have to pay a 0.5% platform fee. I tried to delete my account but it said error!. Your 3.7% will be really 3.2% after the fee. May as well go with shawbrook for 3.5% no fees

There is no charge for easy access saving with Chip. 0.5% is the annual fee for using their investments platform (if you don't have a ChipX account).

From their site...

"Is Chip free?

Yes! our standard plan is free and can access all our savings accounts at no charge.

Charges apply if you choose to use our investments platform or our optional automatic saving and investment features"