Chip no longer listed on MoneySavingExpert website under autosaving apps

Just a heads up on this, as personally I found the Chip app through this website, so IMHO its important that Chip is listed there.

Can one of the Chip staff contact them and find out why we are no longer listed there?



This is not a good report from MSE but I don’t think it will effect too much when the saving accounts come out.

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Yeah it doesn’t paint us in a good light to be honest. I guess they’ve been busy answering loads of queries on the latest crowdfund, but would be good to have some official feedback as the article is almost encouraging users to steer clear of us.

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The reason is that Moneysavingexpert considers that there are better autosaving apps out there.

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I think they normally just list all accounts that fall into the category, and then they will mention which they think is best. Hence me wondering why we have been removed completely.

After reading this is does seem like it’s saying stay away, it also almost makes you feel like chip is a contradiction the benefit of chip is the automated saving if your paying to save money is this a benefit? I never knew about tandem think I’ll look into these other apps myself. This plum app actually looks like it might be good for trading which is funny because I sent the topic to simon whom I’m still awaiting a response from.


I assume you still haven’t heard? @Team-Chip


Having invested in chip myself, I can completely understand why MSE aren’t exactly recommending them. Chip’s fee structure has just wiped them out from being competitive as you get charged £1.50 every 28 days… now rival plum offers their auto saving function for absolutely free and for £1, even less than chip, you can also use their investing features. I’d like to support chip in this but they have really dropped the ball when it comes to their fee structure.

Tandem are also offering their AI for free, and a 0.75% account for select customers. That must be at a loss however.

It is a difficult balance really. Ideally I would have like to see our AI and easy access cash to remain as free - earning say 0.1%-0.2% less than the best rate Chip could get us. That way both Chip and the users interests are aligned - to grow your funds. The problem is the interest rates are so low, and any liquidity for decent rates are tight. The investment piece is a good up sell, but there are lots of players in the market so difficult to enter.

Even the likes of Nutmeg dedicated to investing your funds is not profitable.


True, I’m sure it’s a necessary form of funding Chip needed to implement to keep them going. That said, regardless of their chip +1 account, I think most savers automatically be put off chip at the sound of fees when it’s competition get at least the same function for free.

I just think the way it’s been implemented and communicated has been poor from the start, just as constructive criticism. I don’t mind paying fees to help them grow as they’ve massively helped me save. Hopefully when ChipX comes out they’ll rise above the competition


At least the new Chip +1 is on MSE now.

I agree with you Josh, I think it would be better off to introduce the fee once a saver has saved say £1000, because at that point the saver has made a breakthrough in their personal finances. As they can now see the value of the product, the fee is not a barrier but can be appreciated, due to Chip having changed their personal saving circumstances. I started using Chip because of the AI and the help if would offer and the lack of fees.

At least our management are agile and can adjust this if user growth does not occur.