CHIP Bonus Interests - 1) Savings 2) CHIP X

Dear Sarah,

On Facebook you kindly replied that the Savings ‘remuneration’ was classified as a “bonus is a monetary reward/gift for loyalty, rather than an interest rate, it is not required on a tax form.”

Can you also confirm whether the same is true for classification of the CHIP X monies accrued?

I look forward to hearing from you,
With Kind Regards

Hi Nardge!

I’m going to tag in @chip-shiv to answer this, as he’ll know for sure!

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Hello - I am Graeme and I am a newbie! :grinning:how do I get access to Chipx

Hi @GraemeC, welcome to the forum! The queue for ChipX is open and you can view it in your app. If you’re an investor, you’ll get a code in the coming months to jump the queue and get instant access as soon as we’re ready to go. :smiley:

@Nardge as an accountant my advice would be that it is the equivalent of interest and is taxable under hmrc rules. The bonus is based on an interest rate against the amount in your account so its legal form would be interest.

Remember though that if you are a higher rate tax payer you can earn £500 of interest or year tax free. If you are a basic rate tax payer this increases to £1000.


Hi Sarah I invested in 2018 and 2019 and I am still yet to receive my Chip X investor code. Is this something I should have received yet?


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Hi @St2000, replying in @sarahchip’s absence (she’s running a half marathon at Disneyland dressed as Simba at the moment!)

We’ve not sent the ChipX links out yet, and we’re still tweaking the platform, but you’ll receive your queue jump links as soon as it’s ready to launch in the coming months!

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Hi @Tom_Chip @sarahchip
What about now? Any update on whether investors from Sep 2019 have

  1. codes to skip the queue for ChipX and
  2. how the additional 1% AER bonus would work?

I still haven’t received my ChipX code.

I’ve tried all your channels for more than 2 weeks now. No one is responding to me about these questions (I’ve tried via chat, I’ve emailed the investor email address) and frankly, the advice offered by your support team on forums about these questions are inconsistent.

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Well Chip X hasn’t even been launched yet so that’s why you haven’t got a code for that…

Someone else can answer the other question

Hey Nicole,

Sorry that we’ve missed your messages! Just to clarify, as Rob mentioned above - ChipX hasn’t been launched yet which is why you haven’t received the code for that just yet. We’re also in the process of deciding the logistics of other investor benefits promised. They will all be honoured, but haven’t been rolled out just yet - but you’ll be updated across the forums and over emails, as and when they’re decided!

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So Krish and Rob pretty much nailed it. If you’re an eligible investor you’ll be the first to know about (and get access to) ChipX!

But before releasing ChipX, we want to launch the first version of Investments to the standard/free plans. Once those are stable, we’ll look at launching ChipX with an enhanced suite of investments products.

I’m not sure of ChipX timelines just yet, but as a sneak peak, we’re currently scoping the product suite we’d include in ChipX.

I’ve quite literally just had a preliminary look at these with the product team myself (in the long run we want this to be a full stack wealth management tool, with everything you’d ever need to effortlessly/automatically have a steadily growing and diversified portfolio).

We’ll obviously seek investor feedback on these before too, but pulling together a shortlist… It’d actually be very helpful if you could indicate the kind of investment products that’d light your fire. Do you want higher risk/return, or more slow and steady funds? - @KrishChip as bit of forum hygiene I assume you’d prefer that conversation happens on a new thread?

But keep in mind, that I think there’ll be some big investor announcements very soon on all of this from Simon/Alex!