Cash ISA provider protection

jeffmg

I'm looking to stick £20k in a cash ISA and see that among the top picks on MSE are Moneybox, Chip and Zopa, none of whom are names with which I'm familiar. Does anyone know if these three are authorised by either the FCA or FSCS (or whoever)? Thanks for any assistance/info.

Albermarle

jeffmg said:

I'm looking to stick £20k in a cash ISA and see that among the top picks on MSE are Moneybox, Chip and Zopa, none of whom are names with which I'm familiar. Does anyone know if these three are authorised by either the FCA or FSCS (or whoever)? Thanks for any assistance/info.

Every savings provider listed on MSE is covered by the £85K FSCS. Those providers are all familiar to readers of this forum.

jeffmg

Not just very helpful but also very speedy - many thanks indeed.

Ayr_Rage

I opened a cash ISA with Chip yesterday as I need a "flexible" ISA this time.

Downloading the app, registering with Chip, linking with my Santander current account and pulling in £20,000 via Open Banking took about 10 minutes.

They advise that the funds can take up to 2 hours to appear in the account but it actually took 1 minute.

They do not accept ISA transfers as yet but are planning to do that later and on the main web page you can register for updates, hopefully that'll be before last year's fixed ISA matures in August.

Very happy so far.

gravel_2

Chip is not directly FSCS proected. They use ClearBank which is protected up to the usual £85,000.

I have used Chip on and off (since years ago when it was an auto-saver app) and I would consider an ISA with them. My partner and I are active customers of Zopa.