What are people’s thoughts on the date given for the introduction of FSCS accounts which will, I presume, will come with returns. I’ve managed to stash away quite a hefty chunk of cash in my Chip account since linking my Monzo account. I’m now wondering whether I should continue using Chip or to use another account/rival where I could be earning an attractive return.
There is no date currently set for when an account will start to earn interest. In June 2020 the current bonus will end for all.
Although you can put in more than £10,000 you will currently only earn the bonus of up to £10,000 of saved money, this may be less than your balance!
If it was me I would have no more than the £10,000, ensuring this was ALL saved money and put the rest in another account(s) where you can be earning anything from 1.5% up, but certainly more than 0%