Tax-free.2 Flexible. Transfer ready. It’s easy to see why 100,000+ Chip members have one.
Instant deposits and withdrawals. All interest earned is tax-free2
Flexible: withdraw without impacting your annual ISA allowance
2Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
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Eligible deposits are protected under Financial Services Compensation Scheme up to £85,000.
Please note: This promotion cannot be used in conjunction with any other Boosted Rate Promotion. Only one promotional rate can be applied to your Chip Cash ISA account at any one time.
To be eligible for the Boosted Cash ISA Promotional Rate you must be a new Chip customer. A new customer is defined as someone who has never previously transacted in a Chip account and has no other promotional rates applied on any Chip products.
Claiming your promotional rate
We've made it easy to start building wealth with our savings accounts.
No forms or fuss, get started in just a few minutes.
Get started by downloading the Chip app from the App Store or Google Play.
Follow our in-app prompts to set up your account.
On the ‘Savings’ tab of your Chip app, select the Chip Cash ISA.
In order to make near instant saves and withdrawals, you just need to connect your bank. Follow the simple steps to add your account in a few taps.
The boost will be applied to your account automatically. Make your first deposit via bank transfer and that’s it.
This is just an example that assumes that you do not add or take out any money and that there was no change to the interest rate during the period.
This is just an example that assumes that you do not add or take out any money and that there was no change to the interest rate during the period.
The Chip Cash ISA is more than just a tax-efficient, flexible, and secure way to save money; it’s been built to help your money grow in a sustainable way that broadens your wider wealth-building portfolio.
The Chip Cash ISA is fully flexible, allowing you to deposit up to £20,000 per tax year and withdraw when it suits you - without impacting your ISA allowance. With no tax on your interest earned, and easily managed in our award-winning app, it's the smarter way to grow your wealth.
No forms, no fuss. All you need is an existing bank account and your National Insurance number.
Open your Chip Cash ISA and deposit from £1 as often as you like. Manage everything in your Chip app.
We don't limit your withdrawals or reduce your interest rate for accessing your money.
Opening a Chip Cash ISA is simple and takes just a few minutes. You can initiate and track your ISA transfer in-app, and our award-winning customer support team is always here to help.
1. Download Chip: Get the app from the App Store or Google Play;
2. Open a Chip Cash ISA: Set up your account quickly and easily;
3. Request your transfer: When your Chip Cash ISA is open, tap the ‘Transfer’ button to request your transfer;
4. We'll do the rest: Sit back and relax as we handle the nitty-gritty.
Your total contributions for the current tax year will still be capped at £20,000. Please note that we can’t accept partial transfers; if you wish to bring your existing cash ISA(s) to Chip, you will need to transfer your entire balance.
You can initiate and track your ISA transfer in-app, and our award-winning customer support team is always here to help.
You can transfer your full cash ISA balance (i.e., your contributions from previous years' ISA allowances) into your Chip Cash ISA without it affecting your current year's allowance.
Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
The Chip Cash ISA is a flexible ISA, which means you can withdraw and deposit (almost instantly) as many times as you like, without it affecting your annual £20,000 ISA allowance.
With other providers, withdrawn funds can lose that tax-free status and will be taken off your ISA allowance. To add to that, you may be limited to a few withdrawals a year, or face a reduction to your interest rate for accessing your money. But not with Chip.
Please note: If you transfer your full balance out of the Chip Cash ISA, you will no longer be able to redeposit or transfer funds, and your account will be closed.
The Personal Savings Allowance is the amount of tax-free2 interest you're able to earn annually across all of your accounts (not including ISAs).
Basic rate taxpayers have a £1,000 interest per year limit.
Higher-rate taxpayers have a £500 interest per year limit.
Additional rate taxpayers have no tax-free2 interest allowance.
With a cash ISA, the interest earned on these savings isn’t subject to tax2, meaning you can potentially see a higher return compared to a regular savings account.
2Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
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All money deposited into a savings or investment account through Chip is eligible for cover by the Financial Services Compensation Scheme (FSCS), subject to FSCS conditions.
The first £85,000 you deposit into your savings account is covered by FSCS, meaning that in the unlikely event that ClearBank or Chip fails, you will be protected and your money will be safe. Find out more about how we keep your money safe.
Everything you've ever wanted to know about the Chip Cash ISA. Find all our up to date terms here.
No, this promotion rate cannot be combined with any other Boosted Rate Promotion or any other promotional offers on the Chip Cash ISA or our other savings accounts. It's designed to be stand alone, so you'll enjoy the full benefits of this rate without any stacking or mixing.
The Bank of England Bank Rate, often simply referred to as the base rate, is the interest rate at which the Bank of England lends money to commercial banks. It serves as a benchmark for all other interest rates in the economy, influencing the rates that banks offer on their lending and savings products.
The Monetary Policy Committee (MPC), a group within the Bank of England, sets the base rate based on economic conditions, with the primary aim of managing inflation. MPC decisions are widely reported on and their meeting notes are a matter of public record.
A Cash ISA (Individual Savings Account) is a type of savings account available to residents in the United Kingdom. It allows individuals to earn interest without paying income tax on the interest earned. Cash ISAs are considered a tax-efficient way to save because any interest earned within the ISA is tax-free.
Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
The annual ISA allowance is £20,000 across the four different types of ISAs available, this includes the Cash ISA.
For example, if you had £10,000 in your Chip Stocks and Shares ISA and £10,000 in a Chip Cash ISA, you would have reached your annual ISA limit. Your annual ISA allowance resets at midnight 5 April 2025.
After this point we are in a new tax year and your new £20,000 ISA allowance comes into effect.
A flexible ISA allows individuals to withdraw money from their ISA accounts and then replace it within the same tax year without affecting their annual ISA allowance. Also, if you withdraw your money in our Cash ISA, you won’t receive any restrictions or penalties.
Interest is paid on the fourth working day of each month.
1. Download Chip
Head to the App Store or Google Play Store.
2. Create an account
Enter a few details and pass a quick check.
3. You're good to go!
Choose from our range of finance products.
Scan the QR code to download the app.
or get a download link via email.
Transfer your balance from another ISA provider. Be the first to know when we’re ready.
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