FSCS protection for CHIP X

Hi so Chip is currently not covered by FCA but when CHIP X is rolled out will it be covered by FCA ?

If not it’s risky to keep money in the savings that CHIPX for a long period

Hi @Aj16, some of the ChipX options will be FSCS protected.

It’s a marketplace featuring P2Ps, bonds, ethical investment funds provided by partner banks. :slight_smile:

Ok what about the CHIP X savers account against which we will earn interest?

I’m not quite sure what you mean?

ChipX is a marketplace with a number of different products, not just one account. :slight_smile:

https://www.getchip-community.uk/chipx-the-future-of-returns

We’ll also have a number of FSCS-protected accounts which will earn interest within just the regular Chip, too. :smiley:

Oh ok I was under the impression it would be just 1 FSCS savers account that CHIP would launch when I read your crowdcube campaign

We’re aiming to have a few different options, like instant access, 30/60 day etc :slight_smile:

Ok any update when is the roll out plan was an investor in your crowdcube fundraiser but no updates

Not currently, I’m afraid, due to a number of NDAs in place.