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  • FIRST POST
    • baldeagle09
    • By baldeagle09 5th Apr 18, 8:34 PM
    • 105Posts
    • 56Thanks
    baldeagle09
    Chip App - When is interest paid?
    • #1
    • 5th Apr 18, 8:34 PM
    Chip App - When is interest paid? 5th Apr 18 at 8:34 PM
    I am currently saving via the chip app and have been for 4 months now. To date there has been no interest credited to account. I am on 3%. Bit disconcerting that after contacting them 2 days ago, there is still no sign of any interest.
Page 1
    • bestyet
    • By bestyet 5th Apr 18, 10:00 PM
    • 5 Posts
    • 0 Thanks
    bestyet
    • #2
    • 5th Apr 18, 10:00 PM
    • #2
    • 5th Apr 18, 10:00 PM
    The faq says interest paid quarterly: getchip.uk/faq

    if you go to chipchat, click savings, it should show you the next interest payout.

    I am on 1%, 44p is my next payout...

    (ps Anyone would like to join, please feel free to ping me, we can both get 1% up.)
    • youngretired
    • By youngretired 6th Apr 18, 11:14 AM
    • 189 Posts
    • 104 Thanks
    youngretired
    • #3
    • 6th Apr 18, 11:14 AM
    • #3
    • 6th Apr 18, 11:14 AM
    I contacted Chip the other day as I also started Dec and interest was due 1st Apr and I had a figure but now shows 0. They have a technical problem due to the bank holiday and are aware of this issue and hopefully it will be rectified soon.
    • baldeagle09
    • By baldeagle09 9th Apr 18, 3:33 PM
    • 105 Posts
    • 56 Thanks
    baldeagle09
    • #4
    • 9th Apr 18, 3:33 PM
    • #4
    • 9th Apr 18, 3:33 PM
    Am in same boat. It is very disconcerting that 6 days after contacting Chip, the interest has not been rectified. We are well past the bank holiday now. They promised speedy action from their engineers and so far they have failed to deliver.
    • youngretired
    • By youngretired 9th Apr 18, 4:29 PM
    • 189 Posts
    • 104 Thanks
    youngretired
    • #5
    • 9th Apr 18, 4:29 PM
    • #5
    • 9th Apr 18, 4:29 PM
    Has anyone that was expecting interest in April received it or does this affect all us that took out the MSE 3% code?

    I was a bit worried about doing this after reading reviews that some people had difficulty with getting their interest but thought I'd give it a go, but so far no interest and 2 months of when trying to save the additional 100's the App saying that I haven't got the money even though I have (App shows I have).
    • baldeagle09
    • By baldeagle09 9th Apr 18, 4:34 PM
    • 105 Posts
    • 56 Thanks
    baldeagle09
    • #6
    • 9th Apr 18, 4:34 PM
    • #6
    • 9th Apr 18, 4:34 PM
    Chip app now states that interest is payable on 1st July and that my interest earned was 7.93.
    By my spreadsheet calculations interest should have been 12.24 assuming that it was to 31st March.
    I think I shall close account
    • baldeagle09
    • By baldeagle09 9th Apr 18, 4:39 PM
    • 105 Posts
    • 56 Thanks
    baldeagle09
    • #7
    • 9th Apr 18, 4:39 PM
    • #7
    • 9th Apr 18, 4:39 PM
    It also states that interest will decrease on 14 Dec 18 which is the anniversary of opening account
    • youngretired
    • By youngretired 9th Apr 18, 4:51 PM
    • 189 Posts
    • 104 Thanks
    youngretired
    • #8
    • 9th Apr 18, 4:51 PM
    • #8
    • 9th Apr 18, 4:51 PM
    My interest is now paid 7.19 and this is based on saving 400 a month. I think I worked out that this is what I expected as interest is only paid weekly and not daily like all other banks/building society, so I worked it out by when the deposits actually reached Chip i.e. 4 working days from when requested.

    Though with the interest dropping in Dec I'll be getting rid of it as got a spare Post Office saving account that I can move over to my Co-op for rewards.
    • Ashen
    • By Ashen 9th Apr 18, 6:38 PM
    • 460 Posts
    • 312 Thanks
    Ashen
    • #9
    • 9th Apr 18, 6:38 PM
    • #9
    • 9th Apr 18, 6:38 PM
    I contacted Chip the other day as I also started Dec and interest was due 1st Apr and I had a figure but now shows 0. They have a technical problem due to the bank holiday and are aware of this issue and hopefully it will be rectified soon.
    Originally posted by youngretired
    My second quarter of interest was due on December 25th, and wasn't paid at the time. I wouldn't have noticed had I not been keeping track - although I believe it's now been paid, about 2-3 months later.
    • darich
    • By darich 23rd Apr 18, 9:37 AM
    • 2,100 Posts
    • 1,008 Thanks
    darich
    I'm new to Chip and happy to do a few referrals with other users for additional interest.










    Anyone up for it?

    Keen photographer with sales in the UK and abroad.
    Willing to offer advice on camera equipment and photography if i can!
    • eskbanker
    • By eskbanker 23rd Apr 18, 10:28 AM
    • 7,091 Posts
    • 7,515 Thanks
    eskbanker
    I'm new to Chip and happy to do a few referrals with other users for additional interest.

    Anyone up for it?
    Originally posted by darich
    If you wish to refer others, the approved method for doing so is to post on the dedicated referrers board, where there's already a Chip thread at https://forums.moneysavingexpert.com/showthread.php?t=5586709

    Referrals via other boards aren't allowed under the forum rules....
    • darich
    • By darich 23rd Apr 18, 9:05 PM
    • 2,100 Posts
    • 1,008 Thanks
    darich
    If you wish to refer others, the approved method for doing so is to post on the dedicated referrers board, where there's already a Chip thread at https://forums.moneysavingexpert.com/showthread.php?t=5586709

    Referrals via other boards aren't allowed under the forum rules....
    Originally posted by eskbanker
    Apologies....I wasn't aware of this.

    Keen photographer with sales in the UK and abroad.
    Willing to offer advice on camera equipment and photography if i can!
    • gardner1
    • By gardner1 26th Apr 18, 10:24 PM
    • 2,457 Posts
    • 3,696 Thanks
    gardner1
    Supprised to see my chip savings is now 6% after 2 people used my code yesterday.....I thought the maximum was 5%
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