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.
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.
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.
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.
Keep saving with the free, stripped back version of Chip.
Earn 1.25% bonus in the Chip+1 account on funds up to £2,000 (subject to eligibility / existing customers only - ending 8th December)
Deposit up to £10,000 in our market-leading 0.70% Easy Access savings account (powered by Allica Bank).
Deposit into market leading, FSCS eligible Interest Accounts (when available)
Unlimited manual deposits
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
Deposit up to £30,000 in our market-leading 0.7% Easy Access savings account (powered by Allica Bank).
Earn 1.25% bonus in the Chip+1 account on funds up to £10,000 (subject to eligibility / existing customers only)
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)
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.
We guess you'll probably want to know about the below. If you have more questions, read our full FAQs here.
After your 28 days is over you will automatically be enrolled onto the ChipAI plan (£1.50 every 28 days), but you can downgrade at any time.
You can find a countdown in your app for how many days you have left on your free trial.
You can downgrade, or upgrade your plan at any time.
Simply head to your profile tab, tap on ‘Your plan’, then ‘View plans’ and choose which plan you want to be on.
If you choose to downgrade to ChipLite, you will stay on the ChipAI plan until the end of your 28 day window.
In essence, you always get your money’s worth; if you paid £1.50 on the 3rd of the month, you’d stay on the plan until the 30th.
You will be charged on the first day after your free trial expires, and then in 28 day cycles starting from that day.
You can find a full record of your payments under ‘Your plan’ in your app’s profile tab.
The platform fee is what you pay to Chip so we can bring investment funds to you in an accessible and easy to manage account.
Platform fees are a standard charge across the industry, and all retail investment platforms and banks will have them. They take the form of an annual percentage on the value of your investments including any growth, but are charged on a monthly basis.
It’s called a platform fee because it’s what we charge to use our ‘platform’. Provided your balance in any investment fund is above £0.50, we will charge a platform fee.
You will be able to see when a platform fee has been taken in your contract notes, and will have full visibility on the amount paid in your Quarterly Valuation Report.
You can read more about the costs of our Investment Platform here.
To access our investment platform you need to be on one of our subscription plans, either ChipAI (£1.50 every 28 days) or (£3.00 every 28 days), as well as the platform fee.
Fees you will need to pay to invest on the ChipAI plan:
• 0.75% annual platform fee, collected monthly (£0.50 minimum monthly fee).
Fees you will need to pay to invest on the ChipX plan:
• 0.25% annual platform fee, collected monthly (no minimum monthly fee).
We reserve the right to amend these fees with two months’ notice.
Please note additional fund management charges apply. These are charged directly by BlackRock (see About BlackRock) and you can find the charges in-app when you open a fund, and on the funds’ Key Investor Information Documents.
You can upgrade from ChipLite or ChipAI to a ChipX membership whenever you like, you’ll find a few prompts around the app, or you can head to your ‘Profile’ tab.
Full access to our investment platform comes with ChipX membership. While you can access our investment platform on ChipAI, you’re limited to three funds.
You can also downgrade whenever you like, but you’ll need to make sure you have a £0 balance in all ChipX/ChipAI exclusive funds before you can downgrade.
Please read our full FAQ here for more about how downgrading with active investment funds works. The investment platform may be available on ChipLite in the future but currently you can’t invest on the ChipLite plan.
The investment platform may be available on ChipLite in the future but currently you can’t invest on the ChipLite plan.
There may be occasional administrative fees, though we work hard to avoid charging these and most of our customers will never need to pay them.
Right now, a £5 admin charge applies every 28 days if you have more than £0 in your old e-wallet. If you have more than £0 in your e-wallet, please withdraw it now to avoid these admin fees.
About the e-wallet admin fees
We are closing the old e-wallets and replacing them with savings accounts covered by the Financial Services Compensation Scheme (FSCS). As part of this process we need to charge an admin fee.
Everyone affected by this has already been informed. You can read the full details in the formal notice here.
As of 20 July 2021:
• We need to charge a £5 administration fee every 28 days if you have more than £0 in your e-wallet.
• We will charge this fee directly from money in your e-wallet, including any accrued bonus, until the balance is £0.
• If the balance is under £5 we will charge whatever the balance in your e-wallet is.
• Once the balance reaches £0, we will close your e-wallet.
• You can easily avoid this fee by withdrawing your entire e-wallet balance.