Automatically Transfer to another account

Is it possible to set up an automatic forwarding rule for an account. For example, each time I hit a certain level in my account, I could set up automatically transferring it to another account, not the one from which the funds were originally taken?

My thought was to transfer a percentage each month to a Premium Bonds account with the National Savings and Investments.

Just curious.

Errrr. No

And why would Chip allow you to do that to a competitor anyway?

You’ll be able to do inter account transfers soon and also transfer to various saving vehicles using the Chip X feature…

I have a feeling that there is an anti money laundering reason this would not be allowed, although I may be wrong.

So Chip will only allow you to withdraw funds to the same account they originated from.


Hi M, that certainly is an interesting idea. Though currently it wouldn’t be something put into place, all ideas of how to make Chip more user friendly are welcome and encouraged for discussion on this Forum, thanks for posting!