I'd love to know why Chip even bother offering the 4.10% 90 day notice account and a different 1.10% easy access acount on their app. Who in their right mind is going to go with those choices over a 4.84% easy access lol I do the same thing with a credit card too. Works perfectly for me as well 😊
I think they offer the other account as they are a partner or something. And the 90 day probably isn't their priority. I think they might be losing a bit of money with the easy access, but it brings people in. But that's just speculation. Credit cards are a brilliant idea!
So if my bank is HSBC, I can just link it to Chip and move money around easily? Are there any tax implications if I move my money around (often) or that's totally fine?
Yes, you should be able to link it to your HSBC, as long as you have online banking, which most people do. There should be no tax implications of moving money in your own accounts, net deposits wont exceed net withdrawals and vice versa as you can only withdraw and deposit with your own bank account (just one).
@@dividendhero It really depends. Some still prefer guaranteed returns and pay tax, over sporadic payments. I've had someone in the comments invest £100k as a couple in premium bonds and only receive £300. So it definitely depends. £50k is a lot of money to not invest imo.
I normally use Apple Pay and it takes up to 3 days. I re watched your video today because I remembered you saying something about instant transfer. Then I set up my Barclays uploaded money and it said up to 8 days 🥲 perhaps because it’s Barclays 🧐
Hi thanks for making this video, so when you have money in the app and there isn’t an actual bank, if you lose your phone or can’t access the account somehow how do you get your money where is it held? I just don’t understand this part, thanks
You won't lose your money if you lose your phone. You can contact customer services and they can help you, the money will still stay in your account under your name. Unless someone knows your password/fingerprint, but they can only withdraw money to your other bank account. It's actually pretty safe.
@@Dr.JubairsFinancedo you by any chance know the difference between the chip instant access account vs the cash isa account ? Does 20K isa limit per FY also include amount kept in instant access account ?
Hello. If you want to make a withdrawal does it have to 'go' to the account you linked it to? Or can I use it to transfer to a different account (eg. friend or relative)? Thanks in advance. 😃
