Chip investment bribe

allegro120

I received this e-mail - "deposit £100 into any Chip investment fund and we’ll give you £30, either as a gift card of your choice or cash via PayPal if you’d prefer".

I know nothing about investing, but don't mind risking £100 (if it's a low risk) for £30 bribe.  Any advice?

wmb194

allegro120 said:

I received this e-mail - "deposit £100 into any Chip investment fund and we’ll give you £30, either as a gift card of your choice or cash via PayPal if you’d prefer".

I know nothing about investing, but don't mind risking £100 (if it's a low risk) for £30 bribe.  Any advice?

What are the investment options? How long does it have to remain invested? What are the terms?

If you just want to get in an out with minimum downside, is there a short dated bond fund option?

crumpet_man

I've had this promo before and invested in a money market fund.  

where_are_we

Go for it! I have received the same email and will be taking it up. I have received many of these "bribes" in the past. Make sure you follow the T&C`s. They hope you will eventually put much more than £100 in.

"You must already have an open Chip investment account (with a balance of £0 as of 30 May 2025)"

The above quote seems a bit strange. It implies you have until midnight to open an investment account. I already have a Chip cash ISA which I assume is not an investment account. To be sure, I opened a general investment account with a balance of £0, but I would imagine it is not necessary to do it today?

The only downside is making sure you deposit the £100 before June 10 (in my case I will put it in CHS2 which is a money market fund and has a low risk of losing any money over the period of the offer) and remembering to respond to the email on July 15 and claim a suitable gift card. I don`t see a stipulated time to hold the invesment so I will be selling up as soon as I get the gift card.

aroominyork

I got the invite last month, transferred in £100 from my Chip savings, invested it in VLS40, today got an email asking how I wanted my £25, opted for PayPal, and the money immediately arrived. Next week I will close the investment account.

allegro120

where_are_we said:

Go for it! I have received the same email and will be taking it up. I have received many of these "bribes" in the past. Make sure you follow the T&C`s. They hope you will eventually put much more than £100 in.

"You must already have an open Chip investment account (with a balance of £0 as of 30 May 2025)"

The above quote seems a bit strange. It implies you have until midnight to open an investment account. I already have a Chip cash ISA which I assume is not an investment account. To be sure, I opened a general investment account with a balance of £0, but I would imagine it is not necessary to do it today?

The only downside is making sure you deposit the £100 before June 10 (in my case I will put it in CHS2 which is a money market fund and has a low risk of losing any money over the period of the offer) and remembering to respond to the email on July 15 and claim a suitable gift card. I don`t see a stipulated time to hold the invesment so I will be selling up as soon as I get the gift card.

I didn't see '30 May' quote, but followed your advice and opened GIA.  I'll probably go for it in hope that I'll be able to sell it soon after the bonus arrives.

sammy_zammy

Is it easy to remove the money once you have your voucher? As there’s £1 a month monthly fees, or 0.25% whichever is greater.

seriously

Just saw this and yeah the wording/timing sounds a bit strange. 

Posting for updates and if anyone works out if we're still eligible as it's past the initial date now.

geegal

Following, just gone to open invest account this morning, and realised cut off was yesterday, don’t want to open if going to cost me the monthly fee just to have zero in an account. 

Already have Chip cash isa and savings

aroominyork

Are these 'bribes' taxable?

where_are_we

Monthly charges of £1 for GIA account means you will be charged at least £2 (2 months charges) before you can get out.

Looks like the only low risk investment choice is Blackrock UK Money Market Fund with a management charge of .1%. There are no entry or exit charges for this fund. There is no charge to close your GIA account.

You have 30 days from opening, to close your GIA account if you change your mind.