Chip is a savings app allows you to set up automatic savings, based on what you can afford, by connecting to your current account through ‘Open Banking’
Customers of money app Chip have complained their savings balance has “disappeared” following a technical glitch.
Some users said their balance is now showing a negative figure. Chip has confirmed there is a “small bug” affecting its app, but has not revealed any further details or how many customers are affected. Chip has around 500,000 active users.
One panicked customer got in contact with The Mirror after £4,000 “just disappeared” from his account. They said: “Each time I refreshed the total was dropping about £20 each time. My partner has had nearly £1,000 disappear.”
Other users are also complaining on social media. One person said: “Logged in today to see my saving pot is -£4,700. Now I can’t login.” Another said: “Showing a negative balance on an account without an overdraft is just crazy please explain better.”
A third posted: “I’d advise everyone to check there CHIP accounts. Today I have logged on and over £4,000 has gone missing.” And a fourth said: “Money is disappearing from my account. Same with family and friends. What’s going on?”
In an update on X/Twitter posted at 10.40am, Chip said: “Our engineers have identified the cause of the issue and have put the app into maintenance mode to resolve it as quickly as possible. Please bear with us and we’ll be back up and running as soon as we can. We apologise for the inconvenience caused.
“We will post a full explainer in the coming days once we have all the details of what caused the problem and steps we will take to prevent further incidents going forward. Please check our Instagram @get_chip for further updates.”
The Mirror has contacted Chip for more information. Chip is a savings app allows you to set up automatic savings, based on what you can afford, by connecting to your current account through “Open Banking”. The idea is that it moves across the savings for you on a regular basis, from your bank account to a virtual savings pot on the Chip app.
