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Unlock the market’s best return on savings.

Meet Chip+1. Get 1.25% return (variable) on your savings. Download Chip and use the code below to unlock Chip+1.

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Chip+1 - Get a 1.25% return

Chip+1 is our new account paying the market’s best return 1.25% (variable) on savings up to £10,000 (fees apply), or £2,000 (free plan).*

Why/how are we doing this? We’re simply giving our advertising budget directly to our savers in return for recommending Chip to their friends. We think you deserve it more than Facebook and Google do.

125x better than the big banks

Earn 1.25% on easy access savings.


*Returns with Chip+1: is it really the best?

The small yet mighty print.

The 1.25% return is a bonus paid on funds up to £10,000 on our ChipAI plan (£1.50 every 28 days), or on funds up to £2,000 on the free ChipLite plan.

We're confident that even taking the ChipAI fee into account, the return is still market leading for easy access savings, and ChipAI offers multiple benefits beyond the higher limits for Chip+1 (see the full price plan details at the bottom of this page).

The comparison above was last updated on 15/02/2021 and considers other 'no strings attached' easy-access savings accounts and high-interest current accounts.

Note that these accounts do offer compounding interest up to £85,000 and in some cases beyond, vs Chip+1 account's £2,000/£10,000.

We regularly review and update this to keep making the claim that Chip+1 is "the best return on easy access savings". But note that Chip is not a comparison site.

We are aware there are a handful of easy-access accounts that offer higher returns, but these come with eligibility requirements, minimum/maximum monthly deposits, lower bonus limits, or significantly higher fees than the ChipAI £1.50 charge or the free ChipLite plan.

We've based the “125x better” claim against the easy access savings products from the "big banks” (HSBC, Barclays, NatWest, who between them have the majority of UK banking customers - an estimated 30-40 million UK adults).

Because being safe is sexy.

Your money is eligible for FSCS

All money you deposit into Chip+1 is held in a segregated trust account with the UK authorised bank ClearBank and is eligible for the government backed Financial Services Compensation Scheme (FSCS) up to £85,000.

Read more who can get Chip+1 here.

Our most frequently asked questions

We guess you'll probably want to know about the below. If you have more questions, read our full FAQs here.

How am I paid the 1.25% bonus?

Your bonus will be added to your Chip+1 balance every 12 weeks. 

Please note this bonus is not interest and does not compound (i.e. you don’t earn bonus on bonus).

How long does the 1.25% last?

There is no time limit, and the 1.25% bonus is not set to expire at a set date. But as with any savings account with an additional bonus, this can be changed at our discretion.  

Should we choose to increase, reduce or stop offering this bonus, we’ll give you 30 days notice.

How much can I deposit into Chip+1? / Can I deposit more than £10,000? 

The Chip+1 account can hold up to £85,000. But we only pay the 1.25% bonus on the first £10,000.

Why can’t I earn a bonus on more than £10,000?

This is a bonus we pay as a reward for referring a friend to Chip, and as an incentive to sign up for new savers. We may raise or lower the £10,000 cap at our discretion.

Can I move money from my Chip wallet or Interest Account directly into Chip+1?

No. For now, if you wish to transfer the money across you will have to withdraw from your other Chip products first.

Can I auto-save into Chip +1?

Yes. When you open your Chip+1 account you will be given the option to divert autosaves into this account.

How long do withdrawals take?

This is an easy access account, so you can withdraw your money whenever you want.

Withdrawals take between 1 to 2 working days to complete and for the money to reach your linked bank account.

If you withdraw before 11am the money will reach the bank account you've linked to Chip the next working day. If you withdraw after 11am it will take 2 working days.

Who holds the money?

Your money will be held in a segregated trust account with ClearBank, who are a UK bank authorised and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. 

What does ‘FSCS eligible’ mean?

The Financial Services Compensation Scheme (FSCS) is the UK's compensation “safety net” for eligible customers of certain regulated financial businesses.

FSCS protects these eligible customers in the event that these regulated financial businesses are unable to pay claims made against them - often because they have stopped trading, or have been declared in default. 

In this case, the FSCS will step in and pay the compensation on funds up to £85,000 for eligible customers. To find out more and to check your eligibility please visit: https://www.fscs.org.uk/about-us/