Chipkie Loan FAQs
About Chipkie
All the basics on Chipkie as a platform.
What is Chipkie
Chipkie is an online platform that helps friends and family lend money to each other without the awkwardness. You set the loan up together, Chipkie turns it into a clear repayment schedule, and from then on it tracks every payment, sends the reminders (so you don’t have to), and keeps a complete, dated record of everything that happens. If you want extra certainty, you can add a personalized, e-signed loan agreement for a one-off $4.95.
Why use Chipkie
Because informal loans go wrong in predictable ways: nothing in writing, fuzzy memories of what was agreed, lost track of what’s been paid, and the awkward “so… about that money” conversation nobody wants to have. Chipkie was designed around those exact pain points:
- Everything is agreed up front — both people review and confirm the terms before the loan starts, and any later change has to be re-confirmed too.
- Every payment is mutually confirmed — the borrower logs it, the lender confirms it, so there’s never a dispute about what’s been paid.
- Chipkie sends the reminders, not you — the platform is the neutral party, which keeps the relationship out of it.
- Life happens, and that’s built in — payment holidays and reduced-payment arrangements let you flex the loan without tearing up the agreement.
- If it ever gets serious, you’re covered — a signed agreement, a full payment ledger, and a court-ready evidence pack are there if you need them.
Who can use Chipkie?
Chipkie is available in the United States, Australia, and the United Kingdom. Both people on a loan need to live in the same country — we document the loan under the borrower’s local law, so cross-border loans aren’t supported yet. For US loans we’ll ask which state the borrower lives in, because that’s the law the agreement is governed by. If your country isn’t supported yet, you can join the waitlist during setup and we’ll email you when it is.
What languages does Chipkie support?
English only for now. If you’d like to see another language, tell us — we love feedback and suggestions.
What kind of loan does Chipkie cater to?
Personal loans between friends and family — what are traditionally called informal loans. Within that, almost anything works:Any size from small favors up to $999,999.99.With or without interest — you choose the rate (0% is fine).Weekly, every-two-weeks, or monthly repayments, short-term or long-term.Typical uses: helping with a car or moving costs, tuition, a "bank of mom and dad" boost toward a home, consolidating an expensive credit card, or fronting a family member's small business.Chipkie isn't for businesses lending in the course of business — it's for people. If you have a use case we don't support well yet, contact us; we love feedback and suggestions.
Is Chipkie free?
Yes. The free version is a complete way to run a loan, including:loan setup (both of you review and confirm the terms),the full dashboard: repayment schedule, progress, what's next, what's overdue,logging payments with proof attached, and one-tap confirmation for the lender,automatic payment reminders (you choose when and how you get them),payment holidays and reduced-payment arrangements,downloadable loan summary and full payment-record PDFs,the in-app notification center and email updates for every step.The one paid upgrade in the US is the personalized loan contract — a one-off $4.95 per loan — which formalizes the agreement and unlocks Chipkie's premium toolkit (see the next answer). We recommend it for any loan over $1,000.
What does the paid version offer?
For a one-off $4.95 (per loan — no subscription), you get the formal agreement plus the premium toolkit for the life of that loan:A personalized loan agreement — generated from your exact loan terms, e-signed by every party, governed by the borrower's state law, and downloadable as a fully executed PDF.Tax-ready annual statements — a per-tax-year summary of interest and principal received, as PDF or CSV, every year until the loan is done.Amortization schedule — the payment-by-payment interest/principal split, viewable in-app and downloadable as a branded PDF.Early-payoff calculator — see exactly what paying a bit extra would save.Receipt scanning (OCR) — Chipkie reads attached receipts and verifies amounts automatically, powering Silver and Gold payment approval tiers.Court-ready evidence pack — one PDF bundling the signed agreement, the complete payment ledger, every receipt, and the full audit timeline.
How do I make suggestions and requests
Two ways: use the feature requests panel inside the app (you can also see and vote on popular suggestions), or contact us at [email protected]. We love feedback and suggestions.
Is Chipkie a bank, a lender, or a debt collector?
No, no, and no. Chipkie never lends money, never holds your money, and takes no cut of the loan — the money moves between you and your friend or family member exactly as it always would. And Chipkie is not a debt collector: it helps you run the loan well and keeps the record straight, but it never chases a debt on your behalf. Chipkie also doesn't provide legal, tax, or financial advice — for those, talk to a professional.
Does Chipkie handle the money?
Using Chipkie
Get the most out of our neat little suite of tools!
How do I set up an account and create a loan?
Just start the loan — your account is created along the way [link]. Choose whether you’re the lender or the borrower, then either follow the step-by-step form or let Chipkie’s guided setup walk you through it conversationally. You can sign in with your email or with Google or Facebook. Once you’ve entered the terms and the other person’s details, Chipkie invites them by email to review and confirm.
Why should I get a contract?
A contract makes sure everyone is on the same page about what’s being borrowed and how it comes back — and if something does go wrong, it’s your proof of the agreement. Courts, mediators, and even the IRS care about the same things: a written agreement, a payment record, and dated evidence. Chipkie’s contract gives you the first one, and the platform builds the other two automatically as the loan runs. For anything over $1,000, we think it’s the best $4.95 you can spend. Read more about why it matters here [link].
How do I log a manual repayment?
In your dashboard – look for the ‘Lodge a Payment‘ button.
How can I see my loan repayment history?
Yes! You can access this feature in your dashboard – click on the View My Loans option.
What happens if I miss a repayment?
If you miss a repayment we will notify you to let you know. We will also notify the person who has lent you the money so you are all on the same page.
If you are on the free plan, you must manually manage your loan repayments by logging into the dashboard and lodging a payment, or requesting a holiday.
If you have upgraded to the automated Premium or Premium Plus plan, we will attempt to debit your account again, allowing you enough time to ensure there is adequate time to secure funds in your account. Keep an eye out for our emails for further details.
Remember, you can also always request a holiday from your monthly repayments if you need. Simply click on the ‘Request a Holiday’ on your dashboard and the lender will be notified.
Can I request a holiday on a repayment term?
Yes! You can access this feature in your dashboard – look for the ‘Request a Holiday‘ button.
How do I cancel my free account?
You can delete your account from within your profile, or email us at [email protected]
What details do I need to set up a loan?
The basics of the deal and who's involved:the amount, the interest rate (0% is fine), and whether the money has already changed hands,the repayment frequency (weekly, every two weeks, or monthly) and start date,your details — including your address and state, which the agreement needs,the other person's name and email. Don't worry if you don't know all their details — they fill in their own when they accept the invitation.You'll see a live preview of the repayment amount, the number of payments, and the total to be repaid before anything is created.
Does the other person need a Chipkie account?
Yes — a free one, and it takes a minute. They get an email invitation with a secure link where they review the loan, then either confirm it or propose changes (which come back to you to approve). Nothing goes live until you've both agreed. If they haven't responded, Chipkie sends them a couple of gentle reminders on your behalf.
Can we change the terms after the loan starts?
Yes. Either of you can propose changes — the loan re-opens, the other person reviews and confirms, and the schedule is rebuilt. Every version is kept, so there's always a record of what changed and when. If you've signed a contract, the signed document keeps its original terms until you generate and sign a new version (see "What happens to the contract if our loan changes?").
Can more than two people be part of the loan?
Yes — a contract can carry up to four signers: the lender, the borrower, and up to two additional signatories such as a co-borrower, a second lender, or a guarantor. If the borrower is under 18, a parent or guardian signs as guarantor — a loan agreement is only binding when signed by an adult.
What if we live in different countries?
Not yet, sorry. Chipkie documents a loan under the borrower's local law, so for now both people need to live in the same supported country (US, Australia, or the UK). Cross-border support is on the roadmap.
Why does Chipkie ask which state the borrower lives in?
Because in the US the loan agreement is governed by the borrower's state law — the state you pick is written into the contract as its governing law. It's required for every US loan.
Is the contract legally binding?
It's designed to be. The agreement is generated from a professionally drafted template, personalized with both parties' details, the amount, the interest rate, the full repayment schedule, and the governing law of the borrower's state. Every party e-signs it, it takes effect when the last person signs, and everyone can download the fully executed PDF. Electronic signatures are recognized for agreements like this in the US, and no notarization or witness is required by the template. As with any legal document, Chipkie provides the template and the record — not legal advice. If your situation is complex, have an attorney look it over.
How does signing work?
After the contract is purchased, Chipkie generates the document and each signer gets their own secure signing link — signing takes a minute from any device, no printing or scanning. The contract page shows live progress (who's signed, who's pending), Chipkie nudges the stragglers, and once everyone has signed, both parties are notified and the executed PDF is stored with the loan for download anytime.
What's actually in the contract?
The parties' full names and addresses (set out in Schedule 1), the loan amount, the interest rate, the number, frequency, and amount of repayments, the first and last payment dates, when the money changed (or changes) hands, and the governing law — your state. In other words: your exact loan, not a generic form.
What happens to the contract if our loan changes?
Small real-life flexing — an approved payment holiday or reduced-payment arrangement — doesn't invalidate anything: the signed contract keeps the original schedule and Chipkie's audit trail is the reliable record of what you both agreed along the way. If the terms genuinely drift from what was signed, Chipkie prompts you to re-contract: a new version of the agreement is generated with the current terms and signed fresh, and the old version is kept (marked superseded) for your records. Each new contract version is a new $4.95 purchase.
Repayments & tracking
Get the most out of our neat little suite of tools!
How do I set up an account and create a loan?
Just start the loan — your account is created along the way [link]. Choose whether you’re the lender or the borrower, then either follow the step-by-step form or let Chipkie’s guided setup walk you through it conversationally. You can sign in with your email or with Google or Facebook. Once you’ve entered the terms and the other person’s details, Chipkie invites them by email to review and confirm.
Why should I get a contract?
A contract makes sure everyone is on the same page about what’s being borrowed and how it comes back — and if something does go wrong, it’s your proof of the agreement. Courts, mediators, and even the IRS care about the same things: a written agreement, a payment record, and dated evidence. Chipkie’s contract gives you the first one, and the platform builds the other two automatically as the loan runs. For anything over $1,000, we think it’s the best $4.95 you can spend. Read more about why it matters here [link].
How do I log a manual repayment?
In your dashboard – look for the ‘Lodge a Payment‘ button.
How can I see my loan repayment history?
Yes! You can access this feature in your dashboard – click on the View My Loans option.
What happens if I miss a repayment?
If you miss a repayment we will notify you to let you know. We will also notify the person who has lent you the money so you are all on the same page.
If you are on the free plan, you must manually manage your loan repayments by logging into the dashboard and lodging a payment, or requesting a holiday.
If you have upgraded to the automated Premium or Premium Plus plan, we will attempt to debit your account again, allowing you enough time to ensure there is adequate time to secure funds in your account. Keep an eye out for our emails for further details.
Remember, you can also always request a holiday from your monthly repayments if you need. Simply click on the ‘Request a Holiday’ on your dashboard and the lender will be notified.
Can I request a holiday on a repayment term?
Yes! You can access this feature in your dashboard – look for the ‘Request a Holiday‘ button.
How do I cancel my free account?
You can delete your account from within your profile, or email us at [email protected]
What details do I need to set up a loan?
The basics of the deal and who's involved:the amount, the interest rate (0% is fine), and whether the money has already changed hands,the repayment frequency (weekly, every two weeks, or monthly) and start date,your details — including your address and state, which the agreement needs,the other person's name and email. Don't worry if you don't know all their details — they fill in their own when they accept the invitation.You'll see a live preview of the repayment amount, the number of payments, and the total to be repaid before anything is created.
Does the other person need a Chipkie account?
Yes — a free one, and it takes a minute. They get an email invitation with a secure link where they review the loan, then either confirm it or propose changes (which come back to you to approve). Nothing goes live until you've both agreed. If they haven't responded, Chipkie sends them a couple of gentle reminders on your behalf.
Can we change the terms after the loan starts?
Yes. Either of you can propose changes — the loan re-opens, the other person reviews and confirms, and the schedule is rebuilt. Every version is kept, so there's always a record of what changed and when. If you've signed a contract, the signed document keeps its original terms until you generate and sign a new version (see "What happens to the contract if our loan changes?").
Can more than two people be part of the loan?
Yes — a contract can carry up to four signers: the lender, the borrower, and up to two additional signatories such as a co-borrower, a second lender, or a guarantor. If the borrower is under 18, a parent or guardian signs as guarantor — a loan agreement is only binding when signed by an adult.
What if we live in different countries?
Not yet, sorry. Chipkie documents a loan under the borrower's local law, so for now both people need to live in the same supported country (US, Australia, or the UK). Cross-border support is on the roadmap.
Why does Chipkie ask which state the borrower lives in?
Because in the US the loan agreement is governed by the borrower's state law — the state you pick is written into the contract as its governing law. It's required for every US loan.
Is the contract legally binding?
It's designed to be. The agreement is generated from a professionally drafted template, personalized with both parties' details, the amount, the interest rate, the full repayment schedule, and the governing law of the borrower's state. Every party e-signs it, it takes effect when the last person signs, and everyone can download the fully executed PDF. Electronic signatures are recognized for agreements like this in the US, and no notarization or witness is required by the template. As with any legal document, Chipkie provides the template and the record — not legal advice. If your situation is complex, have an attorney look it over.
How does signing work?
After the contract is purchased, Chipkie generates the document and each signer gets their own secure signing link — signing takes a minute from any device, no printing or scanning. The contract page shows live progress (who's signed, who's pending), Chipkie nudges the stragglers, and once everyone has signed, both parties are notified and the executed PDF is stored with the loan for download anytime.
What's actually in the contract?
The parties' full names and addresses (set out in Schedule 1), the loan amount, the interest rate, the number, frequency, and amount of repayments, the first and last payment dates, when the money changed (or changes) hands, and the governing law — your state. In other words: your exact loan, not a generic form.
What happens to the contract if our loan changes?
Small real-life flexing — an approved payment holiday or reduced-payment arrangement — doesn't invalidate anything: the signed contract keeps the original schedule and Chipkie's audit trail is the reliable record of what you both agreed along the way. If the terms genuinely drift from what was signed, Chipkie prompts you to re-contract: a new version of the agreement is generated with the current terms and signed fresh, and the old version is kept (marked superseded) for your records. Each new contract version is a new $4.95 purchase.
Data & Privacy
How we handle your data.
Does Chipkie have a privacy policy?
Yes, you can read the privacy policy here.
Does Chipkie store my data?
Please read our privacy policy here. And our terms and conditions here.
How do you use my data?
Please read our privacy policy here. And our terms and conditions here.
I would like to opt out of email communication
Please click the opt out button at the bottom of the recent email you have been sent and follow the prompts. If you are still having trouble, please email us at [email protected]
Support
Having trouble with something? We’re here to help!
How can I reset my password?
Forgot your password? No problem, reset it at the link here.
I’m worried someone has hacked my account.
Please email us at [email protected]
How can I get in contact with customer service?
Please email us at [email protected]
I’m not getting any emails
Please check your junk or spam inbox and mark the email as safe. If you still aren’t receiving emails, please email us at [email protected]
The person I loaned money to isn’t paying me back
Chipkie is a tool to help you track your loans. We do not provide any debt collection services. If you are having trouble, we advise you to seek legal advice. You can also check out some of these useful tips on how to navigate this tricky situation.
I’m having trouble with my bank account set up
Please email us at [email protected].
The other person has cancelled automated payments. What do I do?
You will be notified via email if the other party cancels their access to automated payments. If you are the person who purchased access to automated payments, we recommend you cancel your subscription.
To cancel you need to login, then go to the Billing section by heading to the navigation bar of the Chipkie dashboard, clicking the drop down menu on the top right and clicking on ‘Billing’ to be taken to the subscription dashboard on Stripe.
From there you can click on the Cancel button to cancel your subscription and follow through to the confirmation.
You can confirm that the plan has been cancelled by looking for the Cancelled badge on you subscription.