Chip Feedback

Rollinghome

dont_use_vistaprint said:

They finally replied.

deposits made on Fridays will not start to process until the following week and should be available by the following Tuesday evening 

Was this a debit card payment? Because if so, that would be as expected.

masonic

dont_use_vistaprint said:

When I google chip reviews the summary says most refer to experiencing technical issues when it comes to withdrawing and withdrawals  take on average 3-5 working days. This should have been stated on the savings page it’s clearly not a true instant access account like banks and building societies 

You'll probably also come across historic posts about not being FSCS protected. It's all out of date information. I didn't go near this account until all of that was no longer true.

masonic

dont_use_vistaprint said:

They finally replied.

deposits made on Fridays will not start to process until the following week and should be available by the following Tuesday evening 

I do wonder if this is some sort of edge case in which if you have a pending debit card deposit (as you do), that has to clear before subsequent open banking transactions are put through. Having steered well clear of depositing by debit card, I've never experienced anything like this. It's that or they've got confused and just told you the timescales for the debit card deposit.

Every one of my many transfers in and out, including several during the weekend, have been received within a few minutes.

dont_use_vistaprint

masonic said:

dont_use_vistaprint said:

They finally replied.

deposits made on Fridays will not start to process until the following week and should be available by the following Tuesday evening 

I do wonder if this is some sort of edge case in which if you have a pending debit card deposit (as you do), that has to clear before subsequent open banking transactions are put through. Having steered well clear of depositing by debit card, I've never experienced anything like this. It's that or they've got confused and just told you the timescales for the debit card deposit.

Every one of my many transfers in and out, including several during the weekend, have been received within a few minutes.

Yeah it does seem so. They have replied a few times now and fully explained the issues clearing funds using cards.my bad I thought after linking OB and the limit increased to £5K from £500 I was doing it the faster way but it was still card transfer.

ill feel better tonight when I can access my money but it’s given me a bad feeling, lack of contact especially they seem to be under resourced in customer service  

masonic

Ah, so it was all debit card after all, which explains everything. Using Open Banking or Faster Payments will be much quicker. There is a reason why we don't recommend debit card deposits.

Given their customer support is 8am-8pm Mon-Fri, it seems like they are doing a fair job of keeping up with queries if you've had some back and forth with them while they've been catching up with messages that have come in over the weekend. Perhaps there is just a learning there for newbies that it might be best to avoid the weekend when setting up and getting used to the account, as support is limited to weekdays.

You might have some justification to be annoyed with Barclays, who appear to have given you incorrect information about the transactions when you contacted them, depending on exactly what they told you. These would have been pending debit card transactions when you called. They wouldn't have gone through, and they should have been marked pending or future dated in your transaction history. Barclays has been in possession of these funds until today when the transaction completes.

dont_use_vistaprint

Yes all cleared now and tested a withdrawal , and it was instant :-)

Band7

dont_use_vistaprint said:

Yes all cleared now and tested a withdrawal , and it was instant :-)

Glad you also have instant withdrawals.

If you use OB or Faster Payment, your deposit will also be instant and show as processed. You will get interest on processed funds from the next day. And you can withdraw processed funds any time you like.

You shouldn’t use card deposits as they take some 3 working days to get processed. During those days, your card deposit is not FSCS protected and it doesn’t earn interest.

Qyburn

Band7 said:

You shouldn’t use card deposits as they take some 3 working days to get processed. .

How does that work? My Chip wants a debit card and doesn't (yet) give an option to link by OB. Can I put in the card, then link by OB and use that for my first deposit?  I mean enter the card details but actually never use it.

Doctor_Who

I seem to remember entering my card details when setting the account up and then my bank account details (for the same card). I've never used the card to make deposits, only OB transfers from my bank account.

masonic

Qyburn said:

Band7 said:

You shouldn’t use card deposits as they take some 3 working days to get processed. .

How does that work? My Chip wants a debit card and doesn't (yet) give an option to link by OB. Can I put in the card, then link by OB and use that for my first deposit?  I mean enter the card details but actually never use it.

Yes, they will ask for the debit card of your linked account, but there is no need to make any payments via this method. OB setup is the next step.