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.

1.25%

0.50%

0.15%

0.10%

0.05%

0.02%

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 £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).

Our most frequently asked questions

We guess you'll probably want to know about the below.

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 £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 for ChipAI subscribers, and £2,000 if you're on the ChipLite plan.

Note that we can only accept single deposits of up to £5,000, so if you'd like to deposit more than £5,000, you'll need to make a couple of deposits.

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 membership plans. Choose your experience.

We believe in keeping our fees simple. We don't charge any hidden transaction or trading charges, just a simple membership fee and a platform fee if you choose to invest.
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It’s free to get started with Chip, and we offer a free plan too. To make the most of Chip and level up your savings, you want a ChipX membership.
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You can enjoy a 28 day free trial of our most popular plan, ChipAI, and you can upgrade to ChipX for full access to our investment platform whenever you want.
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If you want to downgrade to our free plan, ChipLite cuts back on the best of Chip, but still gives access to some useful features to help you grow your money.

ChipLite

£0.00 / 28 days

Keep saving with the free, stripped back version of Chip.

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 (when available)

Unlimited manual deposits

ChipAI

£1.50 / 28 days

The basic Chip experience, perfect for getting started, with auto-saving and three investment funds.

Everything in ChipLite

Unlimited use of our automatic savings AI

Exclusive saving rules

Earn 1.25% bonus in the Chip+1 account on funds up to £10,000 (subject to eligibility)

Set up saving rules such as Pay Day Put Away

Access to Cautious / Balanced / Adventurous BlackRock investment funds (read more here).

0.75% annual investment platform fee, collected monthly (£0.50 minimum monthly fee)

*28 day free trial.

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Remember with investing, your Capital is at Risk. The value of your investments can go down as well as up and you may get back less than your original investment.

Meet Chip+1

Unlock the market's best return on savings.

Unlock the market’s best return on savings.

Earn 1.25% on easy access savings.

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

Unlock the account by inviting a +1

01

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

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

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.

01

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

02

02

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

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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.

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.