Is there a processing fee?
What is a Chipping Account?
What is a Funding Source?
Your funding source is your checking account that is linked in Chipper. This is where we will pull the funds for the payment to your loans.
What is the Min./Max. Feature?
This feature lets you set up a monthly minimum amount and a maximum amount deposited from your round-ups. If your minimum for the month is $12 and your maximum is $30, this means that your minimum for each week is $3.
What are One-Time Payments?
When does Chipper pull money from my funding source?
We initiate weekly payments every Monday. If you are set-up with Make a One Time Payment or Chipper Boost, you can adjust the amount and day your payment will be pulled from your account in the Control Center.
How will Chipper let me know when my payment is sent?
We send an email notification for every payment made through Chipper at the time of payment. If you don’t see an email from us, please check your spam folder.
Which loan is paid off first?
We want to be as effective as possible when helping you crush your loans. To help you save the most amount of time and money on your repayments, Chipper will identify which loan has the highest interest and begin to pay it off first – with your monthly round-ups. You can also remove any loans you do not want Chipper to focus on right now by swiping the loan to the left. A purple trashcan will appear and notification to confirm if you wish to unlink your loan.
How long does it take for payments to hit my loan? -
Can I pay off other loans?
Our desire is to help you achieve financial freedom. Today, we are focused only on student loan payments.
What if I change my username and password for my lender/bank? Do I have to switch my accounts in Chipper?
Since we are connected to your financial institutions and loan providers, when you change your username and password on these sites, it may cause you to have to sign in on Chipper with new credentials for us to maintain the connection.
Does the money from my round-ups pay off the interest on my loan or the principal amount?
The money from your round-ups will be used to start chipping away at your balance on your loan.
We are working with other providers who do not apply this to the principal every time. We are continuing to work to make this better. You can also get ahead of the game and request your Chipper payments be applied to your principal balance by your request.
This is how we’re able to save you such ridiculous amounts of time and money with such small payment amounts!
Can I temporarily pause my account?
Yes, you can pause your account with the ON/OFF slider in the Control Center next to the payment plan you have chosen. Except for a Make A One Time Payment, if you have a payment scheduled on a day you will need to cancel your payment that is currently scheduled.
How do I unlink my loan or bank account?
A member can unlink a loan or bank account by swiping left on the loan or bank account. A purple trashcan will appear and a confirmation will pop-up to confirm if a member wishes to unlink their loan or bank account.
If a member should need assistance with unlinking a loan or bank account, please reach out to us in the app through chat or at email@example.com
How do I close my Chipper account?
Please message us through our chat service in the app or at firstname.lastname@example.org
As a Chipper Pool contributor, can I have more than one card linked at a time?
No, you can only have one card linked for payments at one time. BUT, you can contribute to as many Chipper Members at one time as you would like!
As a Chipper Pool contributor, can I stop payments at any time?
Yes! You can manage any payment scheduling or banking information via your pool dashboard. You can access the dashboard by logging in with your email and password on the link your Chipper member sent you.
Will my Chipper member receive confirmation that I have sent money to their loans?
Yes, of course! We want every member to know how awesome you are for helping them reach their financial goals! You will also receive a confirmation email when any one-time or recurring payment has been processed.
As a Chipper Pool contributor which loan will my payment go to?
In order to eliminate as much debt as possible, all contributions go directly to your Chipper Member’s loan with the highest interest rate.
As a Chipper Pool contributor, will I be charged an transaction processing fee?
When can I expect a payment to go through as a contributor?
What is TISLA?
We have partnered with TISLA, (The Institute of Student Loan Advisors), to provide our users with fair, free loan advice and education from the experts themselves. TISLA never charges consumers for their services and are passionate about providing second opinions and advice for borrowers like yourself! Learn more about TISLA here: http://freestudentloanadvice.org/about_us/