Get the Chip App
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or get a download link via email.
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A new instant access savings account from Chip built to move with the Bank of England and reward you faster than the banks. FSCS eligible on your deposits.
Earn a 4.84% AER (variable) paid monthly.
Earn additional bonuses when you deposit.
Deposit and withdraw almost instantly.
Get started with deposits as little as £1, up to £250,000.
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The more you deposit the bigger the bonus.
Save at least £5,000 into Chip’s Instant Access and you could be eligible for a bonus on your deposit amount.
You must be a new customer to Chip, enter your promo code in the Profile tab of the app and save cumulatively at least £5,000.
This offer is valid until: 30/09/23
Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.
You must hold this deposit amount in the Chip Instant Access Account for 6 months.
Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.
You must hold this deposit amount in the Chip Instant Access Account for 6 months.
Find 'Promos & Referrals' on the profile tab and enter your code. You can find a list of codes above.
You must hold this deposit amount in the Chip Instant Access Account for 6 months.
See how much you could earn →
Starting with a highly competitive 4.84% return* on your deposits paid by Chip . We give you more for your money, effortlessly.
Forget waiting for annual payouts from high street banks rewarding you less than 1% - forget endlessly signing up to multiple banks, or trying to catch the latest flash deal that’s gone tomorrow.
Leave it to us - one app, one account, no fuss.
See how much you could earn →
Starting with a highly competitive 4.84% AER on your deposits paid by Chip . We give you more for your money, effortlessly.
Forget waiting for annual payouts from high street banks rewarding you less than 1% - forget endlessly signing up to multiple banks, or trying to catch the latest flash deal that’s gone tomorrow.
Leave it to us - one app, one account, no fuss.
The Bank of England base rate is rising and the banks are seeing the benefits - but why aren’t you?
We have a solution - At Chip we’re not waiting around for the banks to raise interest rates. We’re doing things our own way and giving you a 4.84% AER on your deposits right now.
We’re seeing rates for savers getting better but many banks on the high street aren’t passing them on. We think you deserve better.
High street banks are slow, relying on factors like lending to decide your returns - we don’t - so can be more reactive when the base rate changes.
Use our clever award-winning AI to effortlessly set up recurring deposits. Sit back and watch your money grow.
We’re trusted by over half a million people building real wealth.
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Powered by Clearbank, brought to you by Chip
All money you deposit in the Chip Instant Access Account is held by the UK authorised bank ClearBank, and is eligible for the Financial Services Compensation Scheme (FSCS) up to £85,000* subject to the scheme’s conditions.
The account is instant-access so you can withdraw deposits at any time, and withdrawals will be back with you in just a few seconds.
*Please note you are covered up to £85,000 per bank whether your deposits are made via Chip or not. Chip Instant Access is provided by UK authorised ClearBank Ltd, who also provision the Prize Savings Account.This means deposits held across both Chip Instant Access and the Chip Prize Savings Account would be eligible for a total of £85,000 of FSCS protection ONLY.
We’ve made it easy to start building wealth with our savings accounts. There’s no forms or fuss and you can get started in just a few minutes, download the app via Google Play or App Store.
On the ‘Savings’ tab of your Chip app, you can choose from a range of savings accounts offering great interests rates and big prizes.
In order to make instant saves and withdrawals, you just need to connect your bank. Follow the simple steps to add your account in a few taps.
Make your first deposit via bank transfer, from your Chip savings accounts, debit card or Apple/Google pay and that’s it. Your account is open!
New terms in effect from 7 March 2023: Chip Instant Access Terms April 2023 and Chip Instant Access Terms Aug 2023 (ClearBank)
Our Chip Instant Access account is an instant-access savings account paying a 4.84% AER on your deposited funds which is paid monthly. All with full FSCS protection on your deposits. Subject to eligibility, please see above section "Covered by FSCS" for more information.
Yes. There are no fees or charges for holding this account. Please see our pricing page for general fee information. Please note that our Saving Plans features do carry fees.
We calculate the interest you are due on your balance each day. We then pay the interest monthly on the 4th working day of the following month. To find out more about different deposit times click here.
AER is the rate of interest you earn on any balance above £0 in the Chip Instant Access Account. It stands for Annual Equivalent Rate and shows the interest rate for a year, and reflects compounding (earning interest on interest), taking into account any interest payments made to you during the year.
With a 4.84% AER interest rate, if you put in £1,000 on your first day, you'd earn £48.40 in interest over the year. If nothing changes (including the interest rate), you'd have £1,048.40 at the end of the year. There is no minimum deposit for interest to begin accruing.
AER enables you to compare the interest rates on accounts from different banks and building societies where interest may be calculated or paid at different frequencies.
But there is also a gross interest rate, which is the rate you’ll earn before compounding is reflected. UK bank interest is paid gross. For example if AER is 4.84%, the gross interest rate is 4.74%.
Yes, the Chip Instant Access Account rate is variable. That means we can change it up or down at our discretion.
You’ll have likely seen that we aim to follow movements from the Bank of England base rate of interest, but we’ll also take the easy-access savings market into consideration too, in order to ensure Chip customers always get a competitive rate of interest.
Should Chip set a date to lower the interest rate, you will be given a minimum of 14 days’ notice. You may receive less notice if the rate increases.
The eligible balance of your account has Financial Services Compensation Scheme (FSCS) protection up to £85,000, which also includes the interest accredited to the account each month. You can read more about how we protect your money here.
Yes, you can autosave directly into this account (Savings Plans settings can be found on the profile tab) and also perform manual saves at any time should you wish by selecting the account in the savings tab and tapping ‘deposit’. Saves into this account also count toward your in-app savings goals that you can set up in the ‘Goals’ tab. Please see our pricing plan page for further information.
You can open and manage any savings account in Chip on behalf of someone else, but you will need Power of Attorney over the account holder’s financial affairs.
In order to set up or manage an account for someone using Power of Attorney you will need to talk to our customer support team via in-app chat or by emailing hello@getchip.uk
The team will walk you through the process, but they will ask for a few documents to prove you have Power of Attorney:
- An ID document of both you (the person acting as Attorney) and the account holder
- A proof of address for you (the person acting as Attorney)
- A Lasting Power of Attorney document (LPA) for Property and Financial Affairs
Check out our most popular Instant Access FAQs here, or read our Chip Instant Access Terms and Chip Instant Access Terms (Clearbank)
You must be a new customer to Chip and enter your promo code in the Profile tab of the app and save cumulatively at least £5,000 (or more depending on your promo code) into your Chip Instant Access. If you do not save and hold the correct deposit amount that corresponds to the promo code, then you will not be eligible for any Bonus amount as part of this promotion offer. Example: If you select (£20,000 code) and only deposit £5,000, then you would be eligible for neither the £10 Bonus nor the £50 Bonus.
This offer is valid until: 30/09/23
You must be a new customer to Chip, enter your promo code in the Profile tab of the app and save cumulatively at least £5,000 before this date.
The payout date for this offer is 01/04/24
The Bonus will be awarded to your Chip Instant Access account and is shown in the app as “bonus”. As an example if you deposit and keep a balance of £5,000, at the end of the 6 months you will be awarded a £10 bonus.
A new customer is defined as someone who has never previously held a Chip account**
An active Chip customer is defined as a user with a positive balance within a Chip account.
Only one new customer promotional code can be redeemed upon opening an account, codes cannot be stacked.
Your promo code will be valid for 7 days after registering a Chip account.
You can be on any of our price plans. For more information about Chip price plans visit here.
If Chip has grounds to suspect any entrant or third party of cheating, deception or fraudulent or unsportsman-like conduct of any kind (including, without limitation, manipulating promo codes) or if Chip believes the promotion is being abused in any way, Chip reserves the right (in its sole discretion) to disqualify any promo code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any bonus.
Eligible deposits are protected under Financial Services Compensation Scheme up to £85,000*.
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