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 and other fund managers (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 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 from ChipX, you will stay on the ChipX plan until the end of your 28 day window.
In essence, you always get your money’s worth; if you paid £3 on the 3rd of the month, you’d stay on the plan until the 30th.
How/when am I charged the subscription fee for ChipX?
You will be charged on the first day you upgrade to ChipX, then in 28 day cycles starting from that day.
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 (unless you're on ChipX where there's no minimum fee see below).
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.
How do I switch between plans?
You can upgrade to a ChipX membership whenever you like, you’ll find a few prompts around the app, or you can head to your ‘Profile’ tab, and select your plan.
Full access to our investment platform comes with ChipX membership. While you can access our investment platform with a standard Chip membership, you’re limited to five funds.
You can also downgrade whenever you like, but you’ll need to make sure you have a £0 balance in your Stocks & Shares ISA (including all ChipX exclusive funds) before you can downgrade.
For our Investment Platform 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).
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. Only the money held in the Chip Savings Account powered by Clearbank (Chip Savings Account), our Interest Accounts and the Chip+1 account are covered by the Financial Services Compensation Scheme (FSCS) for deposits. To find out more and to check your eligibility please visit: https://www.fscs.org.uk/about-us/
Investing in alternative assets involves risks, including illiquidity, lack of dividends and loss of capital, and it should be done only as part of a diversified portfolio. This webpage is communicated by Chip Financial Limited for the purposes of providing information about alternative investments and with a view to making an introduction to a third party provider selected by Chip.Webpage is for pre-marketing purposes only. Service not yet available. No FSCS protection. It does not constitute and should not be interpreted as financial advice. You should consider engaging an appropriately qualified professional to advise you if you are in any doubt about investing.Alternative Assets service does not fall under P1 Investment Management Limited's authorisation by the FCA.Our registered office is: Chip Financial Ltd, 7 Bell Yard, London, WC2A 2JR