Chip

Surprised at the Chip instant access account rate of 4.84% when others offering 5.2%.

Anyone think the Chip rate will increase or better to look elsewhere?

Comments

  • Emmia
    Emmia Posts: 2,928
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    I'm currently sticking with Chip, the hassle/ effort of constantly opening accounts and shuffling money around to get a tiny bit extra (I don't keep a lot of money in Chip) isn't worth it. 

    Will they increase it? Who knows - why don't you ask Chip?
  • SVts
    SVts Posts: 127
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    Emmia said:
    I'm currently sticking with Chip, the hassle/ effort of constantly opening accounts and shuffling money around to get a tiny bit extra (I don't keep a lot of money in Chip) isn't worth it. 

    Will they increase it? Who knows - why don't you ask Chip?
    You think they'd tell me  :D

    Anway decided to go with the Monument 35 day account @ 5.24%.
  • Newbie_John
    Newbie_John Posts: 374
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    They won't go up. They've settled at the level that is enough for people not to go elsewhere. 
    So if you can be bothered, go elsewhere.
    I've abandoned my Chip account some time ago.
  • Might get more responses on the Savings and Investments Board 

    https://forums.moneysavingexpert.com/categories/savings-investments
  • boingy
    boingy Posts: 1,139
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    Chip were quick to act to stay top of the pops for a while, then they stopped. I guess they couldn't make the numbers work. Plenty of better options now.
  • danny13579
    danny13579 Posts: 140
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    Chip were always quick to act to stay on top regarding the interest rate, but it's been at 4.84% since late August and several banks have since overtaken them. I ditched them months ago, could get a far better rate elsewhere and they have no customer service at weekends.
  • SVts
    SVts Posts: 127
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    Chip were always quick to act to stay on top regarding the interest rate, but it's been at 4.84% since late August and several banks have since overtaken them. I ditched them months ago, could get a far better rate elsewhere and they have no customer service at weekends.
    It a myth if you close a Chip account you never open another?
  • friolento
    friolento Posts: 850
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    SVts said:
    Chip were always quick to act to stay on top regarding the interest rate, but it's been at 4.84% since late August and several banks have since overtaken them. I ditched them months ago, could get a far better rate elsewhere and they have no customer service at weekends.
    It a myth if you close a Chip account you never open another?

    Their FAQ for the Instant Access account seems to suggest so.



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