Chip hip hooray!
Chip increasing instant access rate to 4.21%
5% interest rates that I haven’t seen since the pound was worth two dollars seem to be coming back, but I’d rather the exchange rate back than the interest rate honestly 
Now I’m probably being silly, but I’ve just been reading the Chip reviews on TP and I’m not ready to move a penny out of Chase…
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I cannot believe you take any notice of Trust Pilot reviews 
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Chip is absolutely fine. They’re even profitable now apparently.
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Ordinarily, I just laugh at a lot of TP reviews on account that many of the reviews are just too difficult to actually believe 
The problem I have personally is, would I put my savings into a provider I know literally nothing about? Nah. More fool me eh for missing out on a bit of extra interest 
TrustPilot and any review apps in general suck, because people only leave reviews when pissed off
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And it seems there’s quite a few pissed off people out there
For my own part regarding Chase, I just like the ease of instantaneously moving my cash from current to savings and being able to see it there all in one place without faffing around with various apps. Sure, I could earn more in interest but I like the convenience. And again, I know nothing at all about Chip. I suspect for a lot of people, Chip are hardly a household name.
Chip is fine. Withdrawals and deposits arrive in seconds and their CS folk have always responded quickly to any questions I may have had. I like that it shows your interest building daily.
Its (undeserved, IMO) reputation comes from its auto save feature, which is off by default anyway. Also some people don’t like having to provide their debit card as part of linking their nominated current account.
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It is but they definitely didn’t help themselves with so many pivots for a while (invest in NFT etc) vs just a boring old savings account.
I like Chip but wouldn’t trust them because I don’t see them being viable once the VC money runs out. Hopefully they make it though, really like them
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I know what you mean, extra interest on £10k for one year in Chip is £30. That’s not much to pay for convenience of one bank/one app.
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Thanks for working that one out for me because I was only thinking about how much the extra interest was. For me, the extra £30 isn’t worth moving my savings into Chip. I’m no die hard rate chaser 
There is of course also the 1% interest on the Chase current account, so it’s still earning a little bit there (I keep a healthy current account balance) so I guess it sort of offsets any interest loss on the overall amount not in a higher interest instant access account? Or is my logic just a bit skewed… probably
Your logic is all about simplicity and a distinct lack of friction around what’s kept where.
I’ve arrived at a similar place now. The only jiggling I’ve been doing lately has been around ensuring my cash ISA is at an optimum level.
It is - and will remain so.
I keep saying that I’ll do this then, like today, go and open another account.
This time, Beehive Money Online Fixed Regular Saver at 6% AER
Need to stop now though and continue to trim. All ,but about 13 of my 35 Easy Access savings accounts, are now at minimum levels to keep open, be it £0, £1, or £10.
14 Regular Savers is a stretch now though, albeit 7 mature during 2023. No new ones below 6% has to be my goal now. 2/14 are on minimum pay-ins, 5/14 fed on payday, remaining 7 drip-fed.
There are some on the MSE forum with in excess of 30 RS accounts. Gawd knows how they maintain them, but then, these are the same who will regularly move five figure sums for an extra 0.10%
Gladly, that’s no longer me 
Finally moved my Beehive LISA to Moneybox. Beehive are now 2% behind the base rate which is an absolute joke; given the restrictive nature of these accounts I think the government should be legislating that they must track the the BoE rate.
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My man, you’re in a class of your own. 
A 36th is under consideration if this account comes to bear 
The cba feeling is high this morning though
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Given that you can get 4.2% easy access it seems not worth the admin for regular savers at barely any higher interest rates.
I was considering applying for beehive 6% regular saver but it will net me about £30 extra over just paying the funds into chip easy access each month.
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I pretty much agree - it doesn’t feel worth the friction, especially with relatively small sums.