I note that the proposed functionality for Chip 3.0 includes a fee for saving over £100 a month. There is however no proposed way to make sure you dont go over that limit other than dial the autosaves back to minimal or cancel lots of saves if you are in the fortunate position of being able to afford to save that much. To me thats all a negative user experience and counters the original key selling point of Chip; namely set autosaves up that will allow me not to have to think about it and how much is taken. I’m not sure why this decision has been taken and it seems a bit short sighted. To help manage that will there be functionality to specify a max monthly save limit to avoid incurring these fees? The save streaks “bonus” proposed means you’d need to save nearly £400 a month at current interest rates proposed of 0.25% to cover the monthly fee of £1 , which means that if the monthly saves ever take you over £100 it’s actually costing you money to save. It all seems a bit backwards and badly thought out from an end user perspective; especially as the key selling point of Chip used to be, set up autosaves, let it work out how much you can save and then dont have to worry about it.
Is this really what is going to be implmented ?