The Cashback for Bank or Investment Accounts Discussion Thread

winkowinko

Word of caution.

You can't close your GIA and keep your cash ISA. Which means the only way you can avoid the minimum £1 per month fee for the GIA is by closing your entire Chip account.

Although it's unclear how they'd collect the £1 if your GIA balance is zero.

pecunianonolet

Surely they can only charge a fee on GIA account value for actual investments held or cash. However, the latter is not defined or I couldn't find it on their messy website (who does their UX???).

If the value is 0 the fees are not relevant because a percentage of 0 remains 0

flopsy1973

Hi applied this promo code but when I directed to true layer to my bank account its asking me scan a qr code which I haven't got ? Is there way I can transfer from my instant access or do manual payment ?

winkowinko

Do they allow you to have a balance of £0 though?

I will find out in a couple of days when I try to withdraw the £100.

Gambler

https://forums.moneysavingexpert.com/discussion/comment/81896110#Comment_81896110

0.25% or minimum of £1

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81896013#Comment_81896013

Ditto, although I had an existing GIA with a quid in it from a previous promotion year ago…

winkowinko

https://forums.moneysavingexpert.com/discussion/comment/81896172#Comment_81896172

Have they been charging you for the GIA over the last 12 months?

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81896193#Comment_81896193

Just had a look at what my holdings have been in Chip, put £100 into the GIA in March 25 (for a promo?), got charged a "Platform fee" of £1 on 01/04, withdrew £99 on 05/04, had an interest credit of 21p on 28/04 which has been my balance and last activity until my £100 pending credit of today.

So to answer your question, sort of.

Does look like I didn't get my promo freebie from last March, maybe this was when my second Chip account was born…..

happybagger

https://forums.moneysavingexpert.com/discussion/comment/81896013#Comment_81896013

Same. The GIA deposit showed up this afternoon sometime, having been made yesterday, and the £30 has gone to the instant access account. I'll leave the £100 in the GIA (earning 3%) for now to see if £1 gets taken off uninvested cash, and keep the instant access payong 4.2%. May come in handy at some point.

I was a new customer on 22 Feb so didn't actually fulfil the "must have an account on 20 Feb" term

reub075

Thanks @Altior, @happybagger, @OwnedByACat, @winkowinko and others for the advice on this thread.

I had no previous account registrations or membership with Chip.

I registered with Chip after 2pm today on Monday 23/02, opening up a Prize Saver Draw account and depositing £100 from a bank account which I set-up an Open Banking link for.

I waited around half an hour, signed back into Chip, went to my Profile > Promos & Referrals, and put in the START1 code, which seemed to unlock and activate.

I then opened up a GIA investment and deposited £100 - I had not read the most recent posts on the topic), and so my £100 in GIA was invested in Chip Cautious Fund.[Pending status].

I could see in Profile > Promos & Referrals > Past Rewards - START1 was in progress with two ticks.

After 2 hours, the third tick appeared with comment "Your £30 was added on 23/02/2026".

I then noticed that £30 was added to my Prize Saver Draw account.

Before today, I was not a Chip customer.