How quickly your recurring deposit clears depends on where the money is going and which linked bank account you use. We've broken down the timing for you below.
For savings accounts
In most cases, a recurring deposit into a savings account should clear instantly. On rare occasions, it can take up to two hours to appear in your account.
The only exception to this is if your linked bank account is from one of these providers:
Starling
First Direct
TSB
Ulster Bank
The Bank of Scotland
Danske
We normally use something called Variable Recurring Payments (VRP) to process these deposits, but the banks above don't support this technology. Instead, we'll take your recurring deposits from your linked debit card, and this can take 1–3 working days to clear.
Please note: VRP for recurring deposits into savings accounts was only introduced in September 2025. If your recurring deposit was set up before then, it will take 1-3 working days to clear, and the funds will be taken from your linked debit card.
For investment funds
Since recurring deposits for investment funds don't use VRP, they take a little longer to clear. The process also involves buying units in the fund for you, because of this, it can take up to 5 working days in total for the deposit to clear in your account.
Need further help?
If you have any further questions, get in touch with our support team using the in-app chat (this can be found in the Contact Us section on the Profile tab) or by email at hello@getchip.uk for further help.