Chip introduced a saving pot

This week Chip also introduced a saving pot like Monzo. It would be good to see these saving pods in Emma
I have some money in Chip main account and same in new saving pot and i like to see all may saving in Emma

That’s quite nice!

I don’t know if Chip returns this via their API, but we can definitely ask. :slight_smile:

They also introduced a £1 charge for autosaves totalling £100 or above in a given month… If you’re autosaving £100 a month, that’s a hefty charge!

They give with one hand and take with the other. Confusing and confused strategy

I agree. I understand the need to change up how you make money as you grow but it’s unusual that they’ve chosen this way forward. I feel like it’s a penalty for automatic saving and the whole premise is that it’s automatic. I think it’d make more sense if they charge a tiny amount per manual save

I have asked them and it’s not on top of their priorities. :frowning:

To be fair, I think they were looking for a solution that would not affect the bulk of their smaller savers, and I think that’s a good choice. I don’t understand why they don’t just cap savings at £100 or £150 a month in that case. Or at least let users choose a hard limit to avoid fees.

If they did that wouldn’t they just be limiting their revenue stream?