Chip - Pricing

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.
‍
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.

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 / 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

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

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)

*28 day free trial.

‍
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.

FAQs about fees

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

How does the free trial work?

You have a 28 day window where you have full access to our ChipAI plan which gives you access to the core best Chip features, for free!

‍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.

How do I upgrade/downgrade?

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.

How/when am I charged the subscription fee?

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.

What's the Investment Platform fee?

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.

What’s the total cost of using Chip Investments?

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.

How do I switch between plans?

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.

Are there any other fees?

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.
‍

What the fee pays for

59%

Building and designing Chip’s AI

‍Artificial Intelligence is not quite brain surgery, but it’s pretty complex. Our team of highly skilled data scientists and engineers work constantly to build and improve the saving AI for you.

Customer Support

‍Our customer support team is on hand 7 days a week to help with any issues with our saving service.

13%

Maintenance

‍There are a lot of operational processes behind the scene that need to be looked after to ensure the AI saving service keeps working smoothly.

12%

Security

‍It’s vital to keep our savers’ data and money completely safe. So we have a team of engineers and sophisticated security architecture which is constantly being improved.

Open Banking data services

‍Our AI is powered by Open Banking data, we use third party infrastructure to securely relay this data into Chip’s saving AI.

Our costs:

Here's what your fee goes towards.