Chip Automatic Saving

Money, investing, mutuals etc
planteria
Posts: 5048
Joined: Tue Nov 23, 2010 4:52 pm
Location: Going down the Wednesbury Road
Has thanked: 394 times
Been thanked: 1460 times
Contact:

Re: Chip Automatic Saving

Post by planteria » Wed Nov 22, 2017 9:48 am

it is quite a statement :mrgreen: .. i'm not sure if they are going to be sophisticated enough to enable account holders to factor in interest free overdrafts, for example. if so, it will be clever kit.

as per this thread viewtopic.php?f=5&t=81215 i'll be interested to see whether Chip can be useful in this respect.

Sarah
Posts: 2382
Joined: Sat Jun 26, 2010 9:01 am
Has thanked: 186 times
Been thanked: 1540 times
Contact:

Re: Chip Automatic Saving

Post by Sarah » Wed Dec 13, 2017 6:23 pm

As posted here the code MSE3 gets you 3% from the outset if joining Chip, removing the need to refer 3 other customers for that rate. Limited to the first 10,000 new customers and whatever T&Cs apply, etc.

I'm still unlikely to be signing up... :P

pabenny
Posts: 955
Joined: Tue Jun 29, 2010 4:21 pm
Has thanked: 325 times
Been thanked: 991 times
Contact:

Re: Chip Automatic Saving

Post by pabenny » Wed Dec 13, 2017 8:55 pm

From this week's MSE newsletter "This app currently has no way of making money".

This seems very reminiscent of the early days of dot.coms when start-ups thought they could give stuff away (sometimes literally) and somehow generate income out of thin air. We would all take free/heavily discounted goods, especially when our payments are protected by our credit cards. The fintech sector seems to have convinced itself and its investors that this time it's different.

One reason why it isn't different is that customers' money and customers' earnings are at risk - which will keep potential customers away. Your deposits may not really be at risk should Chip go under, but the interest certainly is. And because of the complexity of the model, it may be difficult to prove that the deposits are actually yours.

AAAlphaThunder
Posts: 23692
Joined: Tue Sep 14, 2010 7:23 pm
Has thanked: 212 times
Been thanked: 3262 times
Contact:

Re: Chip Automatic Saving

Post by AAAlphaThunder » Thu Dec 14, 2017 7:40 am

Seems overly complicated and the criteria for earning interest are easily made more harder.

I'm out.
[Secretary] imutual Cashback Investment Club

butler1882
Posts: 35
Joined: Wed Nov 14, 2018 8:33 am
Has thanked: 26 times
Been thanked: 14 times
Contact:

Re: Chip Automatic Saving

Post by butler1882 » Mon Nov 19, 2018 9:02 pm

Just signed up here. I will give it a crack for a few month and see what happens.

If anyone else wants in my referral code is E2NBVQ

planteria
Posts: 5048
Joined: Tue Nov 23, 2010 4:52 pm
Location: Going down the Wednesbury Road
Has thanked: 394 times
Been thanked: 1460 times
Contact:

Re: Chip Automatic Saving

Post by planteria » Tue Nov 20, 2018 8:07 am

what rate are you expecting?

RonFlorabud
Posts: 2011
Joined: Tue Jan 11, 2011 8:58 am
Sharing: 4stars.png
Location: Rural Warwickshire
Has thanked: 1911 times
Been thanked: 927 times
Contact:

Re: Chip Automatic Saving

Post by RonFlorabud » Tue Nov 20, 2018 1:20 pm

AAAlphaThunder wrote:Seems overly complicated and the criteria for earning interest are easily made more harder.

I'm out.
You said that already.
Another example of your spamming with duplicate 5hit

William Joseph1
Posts: 10718
Joined: Tue Jun 29, 2010 7:14 pm
Location: The Isle of Dreams
Has thanked: 2397 times
Been thanked: 5992 times
Contact:

Re: Chip Automatic Saving

Post by William Joseph1 » Tue Nov 20, 2018 1:53 pm

RonFlorabud wrote:
AAAlphaThunder wrote:Seems overly complicated and the criteria for earning interest are easily made more harder.

I'm out.
You said that already.
Another example of your spamming with duplicate 5hit
And your rude comments and constant bickering are not another form of spam?
It is polite to thank a post. If you like it or if you feel it has helped you. Use the thumb up on the top right of the post.

Boro Boy
Posts: 3263
Joined: Mon Sep 15, 2014 5:05 pm
Location: London
Has thanked: 892 times
Been thanked: 1789 times
Contact:

Re: Chip Automatic Saving

Post by Boro Boy » Tue Nov 20, 2018 2:00 pm

Yes, I saw this; what a statement: "You can save even when you're overdrawn, making it easier to build up savings and use them to pay off your overdraft all in one go."

How does that work...!?! :think:

RonFlorabud
Posts: 2011
Joined: Tue Jan 11, 2011 8:58 am
Sharing: 4stars.png
Location: Rural Warwickshire
Has thanked: 1911 times
Been thanked: 927 times
Contact:

Re: Chip Automatic Saving

Post by RonFlorabud » Tue Nov 20, 2018 2:44 pm

William Joseph1 wrote:
RonFlorabud wrote:
AAAlphaThunder wrote:Seems overly complicated and the criteria for earning interest are easily made more harder.

I'm out.
You said that already.
Another example of your spamming with duplicate 5hit
And your rude comments and constant bickering are not another form of spam?
To a certain extent I agree, but coming from you it seems quite humorous.

Post Reply

Who is online

Users browsing this forum: No registered users and 1 guest