Issue transferring in & out with Chip?

ChrisM78

Hi, I have £50000 sitting in an ISA with Charter whose rate recently dropped to 4.17% - I've contemplated going with Trading 212 but have read on here of people having issues with withdrawing money/transferring out which puts me off them. 

Chip looks attractive at the moment rate wise - has anyone had any issues transferring in and out with them? It does seem like their customer service isn't that responsive (which seems to be an issue with Trading 212 too) which is concerning if something goes wrong...

jimjames

No issues transferring in to them, both of us have done so. Withdrawing money from their flexible ISA is instant so no issues there. Beware transfer out though, once you transfer away you can't open another account with them and partial transfers aren't allowed. (just for info - it didn't stop me opening an account)

Emmia

ChrisM78 said:

Hi, I have £50000 sitting in an ISA with Charter whose rate recently dropped to 4.17% - I've contemplated going with Trading 212 but have read on here of people having issues with withdrawing money/transferring out which puts me off them. 

Chip looks attractive at the moment rate wise - has anyone had any issues transferring in and out with them? It does seem like their customer service isn't that responsive (which seems to be an issue with Trading 212 too) which is concerning if something goes wrong...

I don't have an ISA with Chip just one of their savings accounts and I've never had a problem transferring money in or out. I've had an account with them for 5+ years.

larachantie

I've just tried to do a transfer into Chip cash ISA as it's got a promo to 5% for 6 months but when you get to do the transfer they only accept about 8-10 providers.  I'm trying to switch from Moneybox but they won't accept that:

"However, it seems that your current ISA provider is not yet supported by Chip for ISA transfers.

Rest assured, our team is working to expand the providers we support, and we hope to be able to include your provider as soon as possible. Once we're able to transfer your cash ISA, we’ll be back in touch with further instructions on how to proceed. "

dealyboy

Hi OP ...

Charter is in the list https://intercom.help/get-chip/en/articles/9388637-which-cash-isa-providers-do-you-accept-transfers-from.

Just a note ... I don't know how long the current promotion (MARCHBOOST) will last, but the previous one was for only about 10 days. Once the app is installed and the promo code entered there is 14 days to deposit a minimum of a £1 to keep that deal.

sammy_zammy

larachantie said:

I've just tried to do a transfer into Chip cash ISA as it's got a promo to 5% for 6 months but when you get to do the transfer they only accept about 8-10 providers.  I'm trying to switch from Moneybox but they won't accept that:

"However, it seems that your current ISA provider is not yet supported by Chip for ISA transfers.

Rest assured, our team is working to expand the providers we support, and we hope to be able to include your provider as soon as possible. Once we're able to transfer your cash ISA, we’ll be back in touch with further instructions on how to proceed. "

They’re called Digital Moneybox Limited. Unless you’re already further along the process than that, in which case I suspect I’ll stumble into the same problem soon…!