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Meet Chip+1

Unlock the market's best return on savings.

Unlock the market’s best return on savings.

Meet Chip+1. Bring a friend. Join the party. You both get 1.25% (variable) on your savings.

4.5 rating on Google Play & App Store
4.5 rating on App Stores
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Earn 1.25% with Chip+1
That's the market's best return
Read our FAQs

Chip+1 is our new account paying the market’s best return 1.25% (variable) on savings up to £5,000 (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.

1.25%
0.50%
0.15%
0.10%
0.10%
0.05%
0.02%
0.01%
0.01%
0.01%

*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 £5,000 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/£5,000.

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).

Invite your favourite person. You both get access.

Unlock the account by inviting a +1

01

Find Chip+1 in the accounts section of your app.

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02

To unlock the Chip+1 account, simply share your VIP pass code with a friend who doesn't have Chip yet.

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Track their journey and be notified once they’re in. You can even give them a nudge to remind them to finish signing up.

01

Find Chip+1 in the accounts section of your app.

02

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To unlock the Chip+1 account,  simply share your six digit VIP pass code with a friend.

03

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Track their journey and be notified once they’re in. You can even give them a nudge  to remind them to finish signing up.

Read more who can get Chip+1 here.

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.

Invite a +1

..or be a +1, to unlock the account. Spread the good word about Chip.  

1.25% returns

That’s the best return on easy access savings. Have we said ‘the best’ yet?

FSCS eligble

Sleep easy knowing your money is in safe hands.

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).

Can I invite more than one friend? / Can I use my VIP code more than once?

You can invite as many people as you like to Chip+1, but only one person (the first person to enter your passcode) can get access to Chip+1 using your VIP passcode.

This person is your +1. You will be able to track their progress and nudge them from your app.

What does my friend need to do to unlock Chip+1?

Your friend needs to download Chip and sign up. They need to enter your VIP passcode and make their first save.

They have one week enter your passcode. They can enter your passcode by tapping the "Welcome to Chip" banner or in their profile tab.

Your friend needs to be new to Chip (ie they can't be an existing Chip saver).

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 £5,000? 

The Chip+1 account can hold up to £85,000. But we only pay the 1.25% bonus on the first £5,000.


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. 
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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/

Our price plans

It’s free to get started with Chip.

The first £100 you auto-save with Chip’s AI is a free trial. After your trial ends there are two plans you can choose between.

Our most popular plan, ChipAI, offers full access to everything that Chip does best. Or if you want to downgrade, ChipLite cuts back on the best of Chip, but still gives access to some useful features to help you grow your money. You can upgrade or downgrade your plan whenever you like.

We’re updating our price plans effective 25 April 2021 to change the free ChipAI trial to a 28 day window, and also include ChipX and Investment Funds. Read more here. 

ChipLite

£0.00 / 28 days

The limited plan that misses out on Chip's award winning AI and autosaving.

Auto-saves disabled

Earn 1.25% bonus in the Chip+1 account on funds up to £2,000 (subject to eligibility)

Deposit into market leading, FSCS eligible Interest Accounts

Unlimited manual deposits

Coming Soon

Access to investment funds

ChipAI

£1.50 / 28 days

Full membership to Chip. Enjoy unlimited autosaves, smart saving rules and access to new features.

Unlimited use of our automatic savings AI

Exclusive saving rules

Earn 1.25% bonus in the Chip+1 account on funds up to £5,000 (subject to eligibility)

Deposit into market leading, FSCS eligible Interest Accounts

Unlimited manual deposits

Set up saving rules such as Pay Day Put Away

Coming Soon

Access to investment funds 

*Autosave £100 for free then £1.50 per 28 days period.
Chip Financial Ltd.
64 Chancery Lane
London
WC2A 1QU
© Chip Financial Ltd 2019 - Registered Company #10113174
Savings
Chip is a trading name of Chip Financial Limited. Chip is authorised by the Financial Conduct Authority under the Payment Service Regulations 2017, firm reference number no. 911255, for the provision of payment services.

Note that Chip is not a bank. We provide access to savings accounts with UK authorised partner banks and an e-money wallet with a UK authorised e-money provider.

Only the money held in our Interest Accounts and Chip+1 account is covered by the Financial Services Compensation Scheme (FSCS) for deposits. To find out more and to check your eligibility please visit: www.fscs.org.uk

Funds held in your e-money wallet are not covered by FSCS. This money is safeguarded with Prepaid Financial Services Limited.
‍
Chip is an agent of Prepaid Financial Services Limited. Prepaid Financial Services is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011, firm reference number 900036, for the issuance of electronic money and provision of payment services. Registered Office: Fifth Floor, Langham House, 302-308 Regent Street, London, W1B 3AT.

Investments
For our Investment Product business only Chip is an Appointed Representative of P1 Investment Management Ltd, which is authorised and regulated by the Financial Conduct Authority, under Firm Reference Number 752005.

Your money may be protected up to £85,000 by the Financial Services Compensation Scheme (FSCS) under their Investment Scheme. This means that in the event Chip Financial Ltd is declared to be in default and cannot meet their obligations, you may be able to claim compensation. It’s important to understand that the FSCS doesn’t cover you in the event that your investments go down and you get back less than what you put in. Further information is available from the FSCS website (www.fscs.org.uk).

Come say hello at our office: Chancery House, 64 Chancery Lane, London, England, WC2A 1QU