Autosave at 2pm

Any idea when autosave behaviour will return to pre-fintec performance levels?

Now on my third autosave of above £100 (never achieved in 18 odd months prior) and today’s Autosave occurred at 2pm (email alert) - with precisely 0 hours/minutes to cancel (had I wanted to). There was nothing showing in the app at 1pm.

Incidentally, you might want to review the status page - you brought it to my attention when confirming a brief outage a few days ago; yet your status page shows no historical outage; naughty.


Hi Bruce! I’ve just spoken to the tech team and the save calculation formula hasn’t been changed at all, for quite a while.

However, there have been reports of higher saves from other people, so if you could please drop me a DM with the email address you use for your account, I can pass your details onto the team and they’re going to investigate further.

In regards to the cancellation time, this should now be 3pm and the notification text has now been updated.

Hi Sarah,

I’ll DM you my email. As you’ll see from my account history, I’ve never saved as much as I have over the last three saves, despite previously having much higher bank balances.

Historically, an Autosave would happen at between 9am and 10:30am, with a cancellation cut off of 4pm.

Since the current app version, the cancellation time has been 2pm.

Today’s save happened at 2pm. The advertised cancellation time was 2pm.

Even if it has changed to 3pm, you’re surely offering customers more than an hour to reverse an autosave, no?

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Thanks for sending that over, Bruce. I’ll pass it on to the tech team. :slightly_smiling_face:

So with the time of the save, usually saves will be generated between 9 & 10am. However, we’ve had some issues with automatic saves not being generated which needed fixing, so the saves were generated as soon as it was fixed. Going forward, they’ll be back to the normal time of 9-10am.

I think my save today was higher than I would have expected given the balance of what’s in my bank account. Also a notification after the save cancel time was not helpful. I’ve now had to withdraw money because of the save amount and no time to cancel. Quite annoying!

I never saw this before I posted the below. I’m very concerned and want a full explanation please.

Up until about a month ago Chip would generally save £85-95 for me per save. This would normally happen not more than once per week and when possible I’d round it up to £100 if I thought I could afford it.

In the last 7 days Chip has taken the following 3 sums of money from my account:
8th July - £141.09
12th July - £123.29
15th July - £127.30

What the heck is going on?!?

I’ve trusted Chip explicitly since I joined way back at the beginning but I’m actually concerned there appears to be no rational behind the new save amounts and frequency.

I understand I can move the money back or I can reduce the amount saved but that’s not the point.

Why in the last 2 years was a payment of not more than £100 allowed within 24hours and never more than 1 automatic saving a week but now it’s always over £100 and I’ve made 3 in 8 days?

Really confused and would like an answer and some clarity please.


Morning all!

So, just to confirm a few points from further up the thread:

Chip saves will be generated every four days, around 9/10am. You then have until 3pm to cancel the save if you wish.

The save calculation formula for bank connections hasn’t changed at all. However, we have brought in a new type of save using just your bank card.

If your bank connection has ‘dropped’, then Chip will be using card saves which aren’t as ‘smart’, but should still be close. You can read more about that here: Challenger banks and Chip savings

Also, due to autosaves being paused while we prepared the latest update and then with autosaves not being generated (this is now fixed), there may be some slightly odd behaviour just now but this should even out pretty quickly over the next few days.

If anyone would like to head into live chat, the team there can take a look at your account and make sure you’re still bank connected. You can also DM me your account email address/telephone number so I can pass this onto the tech team as they’re currently looking into this. :slightly_smiling_face:

Why not update the app to show whether or not we are bank connected? Surely you don’t want your support team inundated with requests to check? Which of your customers wouldn’t want to confirm this?!

If you go into Account and then Connected Account, it’ll show your bank and card connections there.

I mentioned speaking to livechat as a way to just make sure there’s no other issues on the account, otherwise the tech team are investigating.

Good to know, thanks Sarah


I don’t mean to sound a bit grumpy here but just saying things should even out over the next few days isn’t good enough. As i mentioned i had 1/4 of my bank balance deducted yesterday and I am on the lowest saving level at present, that definitely isnt right. My account shows I’m connected. I had to then withdraw money. The whole reason I signed up (and invested) in Chip was so I have a reliable way to save little (or more) and often but the choice to cancel yesterday wasn’t given with any real notice, so this isnt feeling very reliable. Very disappointed.

Sarah, I think your dev team need to look into this; before the latest version, my experience (and of someone else above) was that the bank connection you mentioned functioned reliably enough that we always saw predictable saves. Since the latest version, you seem to be suggesting that our high saves (at a greater frequency) are occurring due to bank connections being ‘dropped’ - every time so far.

It is more likely that the new version logic is not performing an account debit at all (only using card), or perhaps that previously your system was more persistent dealing with account ‘dropping’ where as now the system is too keen to use the card only process. Or something else. But whatever the explanation, it doesn’t add up - nothing you’ve explained accounts for the change of frequency (something it would be really helpful to allow customers to control via a setting - problem solved then). As an investor in Chip I really hate to say it, but this all continues a theme of vagueness, inaccuracy and half truths as we continue to be told thing will get resolved ‘in a bit’ (or words to that effect). This is a financial product, and I’m amazed you’re seen to be compliant with regulation when everything is so ‘random’.

I would be happy if my auto save worked

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Hi all.

My suggestion that your bank connection may have dropped is just a theory. As mentioned, the development team are looking into these higher saves to find the exact cause.

As for more frequent saves, saves should happen every four days.

I can only apologise for the inconveniences around your autosaves over the past few days. The experience has been far from ideal, but improving reliability and user experience is one of our priorities over the next quarter.

Also, in regards to vagueness and transparency, we will be starting regular (looking at weekly or fortnightly, depending on availability) video Q&As with the Chip team that are exclusively for investors, so that you can put your questions to them directly. :slightly_smiling_face:

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Hello Sarah. Are weekends included for automatic saves? I originally thought Chip adjusted not only how much to save but the frequency of these saves. Currently, and most frequently, I’m receiving 1 auto-save per week and every 4 days roughly equates to this. I can remember prior to 2.0 I’d get more frequent but somewhat variable saves sometimes 1/2/3 times per week.

Yep, it’s every four days including weekends. :slightly_smiling_face:

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Hi, just to mention i have been hit by this too this month (HSBC if it helps). Much higher amounts being taken out and i’ve had to reverse a save for the first time ever this month. More specific details on the live chat.

I had wondered whether it was a bug like the code reading the balance instead of the available balance when making its decision on how much to save.

I am positive my auto save amounts are higher than before. Since chip 2.0 I starred noticing saves about x2 and sometimes x4 higher than anything previous. I have always has saves set to the medium but in the last month I have reduced it to the lowest and the save values are still higher than anything I have had in the last year. I have even had to start cancelling some saves as I know they will be to big for me ro handle.

I wish that would happen to me… mine appear to have slowed down.

I’ve already reported it via support but similar is happening to me; last few saves much higher than normal, last one being just under £50 (and a ~10th of the balance on that account). Previous saves would be around £5 to £10…

Saves were set at level 3, reduced now to 1 on supports advice. Only other thing I can think of is I have a goal to save £3000 by this time next year but I thought that was more of “it would be nice to” rather than a “make this happen”?