Chip Feedback

allegro120

CheekyMikey said:

allegro120 said:

CheekyMikey said:

I opened a Chip account yesterday..had to open it with a small deposit via Santander debit card. I then was able to link my Santander current account with OB with an initial deposit of £100. All good, and £125 showing in my account this morning. However, I thought I’d test moving money back to my Santander account and the only option I have is to transfer £100 back to my debit card. Surely I should also see my linked Santander account as an option to withdraw money to?

This is because your £25 are still in the process to be credited. Debit card transactions take a few days for money to arrive, so your £25 , although showing on your balance, is not really there yet.

I understand why the £25 isn’t really there yet and why I can’t withdraw that, but as I’ve now linked a current account and made a payment from it to Chip, I don’t quite get why the bank account isn’t showing as a withdrawal option? Anyway, I withdrew the £100 to my debit card and it seems to have gone into my bank account straight away so the two way process works but I’m still a bit wary of moving all my Zopa funds over

I personally prefer not to have all of my IA cash in one single account in case something goes wrong with the app or any other temporary delays/problems. I keep a bulk of it in Chip and the rest in Tandem.  I didn't use Zopa for few months now because their IA rate is too low.

CheekyMikey

AmityNeon said:

Doctor_Who said:

Whenever I make an OB deposit into Chip the app takes me back to the 'making a deposit' page, which I found odd since the deposit had gone through. Would be much better if it went to a confirmation of transaction page.

Deposits into Chip via Open Banking are routed through TrueLayer, which involves app-switching and multiple redirections. During this multi-layered process, your bank can authorise and send the payment (as you receive their notifications of confirmation), but the final stage of the process involves being redirected back to the Chip app; at this point, there have been previous reports of 'deposit failed'. For this reason, I prefer standard Faster Payment transfers initiated from the sending institution (which Chip recently allowed), as fewer steps/layers are involved and thus fewer possible points of failure.

That's not to suggest standard FP transfers cannot go wayward, but it's a terrible user experience to be told by Chip your bank account has not been charged because the deposit failed, only for your bank to say the payment was successfully sent.

Yes, I see that a manual transfer to Chip is a listed option…if I do decide to put more in I think I’ll use that method. So far there’s been a few rough edges with the processes and app that are making me a little hesitant, even for that top rate

Doctor_Who

AmityNeon said:

Deposits into Chip via Open Banking are routed through TrueLayer, which involves app-switching and multiple redirections. During this multi-layered process, your bank can authorise and send the payment (as you receive their notifications of confirmation), but the final stage of the process involves being redirected back to the Chip app; at this point, there have been previous reports of 'deposit failed'. For this reason, I prefer standard Faster Payment transfers initiated from the sending institution (which Chip recently allowed), as fewer steps/layers are involved and thus fewer possible points of failure.

That's not to suggest standard FP transfers cannot go wayward, but it's a terrible user experience to be told by Chip your bank account has not been charged because the deposit failed, only for your bank to say the payment was successfully sent.

My open banking deposits into Chip have never failed, but when I am returned to the Chip app I am presented with the 'Deposit by bank transfer' page showing the amount I wanted to deposit, which makes it looks like the deposit failed (no 'successful transaction' notification). The whole TrueLayer process does seem rather clunky.

Where do I find my Chip account information so that I can setup FP in my banking app?

Rheumatoid

Doctor_Who said:

AmityNeon said:

Deposits into Chip via Open Banking are routed through TrueLayer, which involves app-switching and multiple redirections. During this multi-layered process, your bank can authorise and send the payment (as you receive their notifications of confirmation), but the final stage of the process involves being redirected back to the Chip app; at this point, there have been previous reports of 'deposit failed'. For this reason, I prefer standard Faster Payment transfers initiated from the sending institution (which Chip recently allowed), as fewer steps/layers are involved and thus fewer possible points of failure.

That's not to suggest standard FP transfers cannot go wayward, but it's a terrible user experience to be told by Chip your bank account has not been charged because the deposit failed, only for your bank to say the payment was successfully sent.

My open banking deposits into Chip have never failed, but when I am returned to the Chip app I am presented with the 'Deposit by bank transfer' page showing the amount I wanted to deposit, which makes it looks like the deposit failed (no 'successful transaction' notification). The whole TrueLayer process does seem rather clunky.

Where do I find my Chip account information so that I can setup FP in my banking app?

f you go to add money and then scroll down there is option to view account details so you can make manual transfers and set up SO's

MichaelAP

Doctor_Who said:

Where do I find my Chip account information so that I can setup FP in my banking app?

I posted this in a similar thread the other day:-

For those who cannot find the Sort Code or Account Number for their Chip Instant Access Account, there is a way in obtaining this.
1. Open the App and go to the account.
2. Tap on Add Money.
3. Look at the bottom where it says ‘Manual deposit’ and tap on it.
4. At the bottom where it says “I confirm I will make the deposit from my (Bank account) linked to Chip”, Tap on the Green Box to accept this method and press ‘Continue’.
5. Once you have pressed Continue it will now display all the details for the account including Sort Code & Account Number.

Qyburn

OB is what I'd call Clunky with a capital C. I was linking with TSB. During the linking process it launches a web browser to log into TSB to authenticate, not the TSB app like Zopa did.  Then to make a deposit same again. I needed to log into TSB fron scratch on a mobile device browser, username, password, memorable information, SMS verification and everything. I think, for me, Chip may be more trouble than it's worth just to gain 0.15%.

masonic

Qyburn said:

OB is what I'd call Clunky with a capital C. I was linking with TSB. During the linking process it launches a web browser to log into TSB to authenticate, not the TSB app like Zopa did.  Then to make a deposit same again. I needed to log into TSB fron scratch on a mobile device browser, username, password, memorable information, SMS verification and everything. I think, for me, Chip may be more trouble than it's worth just to gain 0.15%.

You could just send a faster payment from TSB like you would a traditional savings account.

CheekyMikey

Qyburn said:

OB is what I'd call Clunky with a capital C. I was linking with TSB. During the linking process it launches a web browser to log into TSB to authenticate, not the TSB app like Zopa did.  Then to make a deposit same again. I needed to log into TSB fron scratch on a mobile device browser, username, password, memorable information, SMS verification and everything. I think, for me, Chip may be more trouble than it's worth just to gain 0.15%.

You may have read my posts above about my issues getting started with Chip… yes it’s slightly more inconvenient to open the account only because you need to use a debit card and then link your bank account with an OB payment. After that however, I’ve just used my Chip account details to set up fast banking payment from my Santander account just like I use to fund my Zopa and other savings accounts and it’s worked fine. Money goes in and out almost instantly, although the only thing i still don’t like is that you withdraw to your debit card not your nominated account although it goes into your account straight away…that’s me just being pedantic. So if you avoid OB transfers, it should be no hassle for you.

trickydicky14

Well that's not a good start, just attempted to sign up to Chip only to get error messages when I press sign up button. Have tried many times with no luck.

trickydicky14

trickydicky14 said:

Well that's not a good start, just attempted to sign up to Chip only to get error messages when I press sign up button. Have tried many times with no luck.

I've now got it sorted, next question, how do you log out of your account?