How saving with Chip works.

At Chip, we offer savings accounts with highly competitive interest rates, big prizes and intelligent tools to help you build your wealth. Once you’ve downloaded our savings app – here’s how it all works.

Setting up your account.

After downloading the Chip app from Google Play or the App Store, it’ll only take a few minutes or so to set up a savings account with Chip. Here’s how you do it.

Why do I have to share my bank details?

When you connect via open banking you're sharing more than just your sort code and acc number.

This is how withdrawals from Chip works too. By sharing your bank account details, you can quickly transfer money into our accounts, and you can withdraw funds right back into your bank account.

How do deposits work?

To deposit, head to the relevant account in the Savings tab. Tap “Add Money” at the top, which will prompt you to choose your payment method and amount.

You might also be prompted to complete a verification of the transaction with your bank. You’ll then receive confirmation in the app and via email if the deposit was successful.

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Securely connect to your bank via Open Banking.

In order to help us keep your money safe and make instant saves and withdrawals, Chip requires you to securely connect to your bank using Open Banking.

What do I need to open my account?

We’ll ask for your name, phone number, date of birth, a UK address and you may be required to provide some form of photo ID.

Is Open Banking safe?

Open Banking is a government initiative set up to bring more competition and innovation to the financial services industry. Open banking is a safe process that’s built on secure encryptions and security protocols as online banking.

Open banking is regulated by the FCA (Financial Conduct Authority) and requires providers such as Chip to follow strong customer authentication protocols,  with open banking permissions re-authenticated every 90 days.  Find out more here.

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Choose the account you want to add money to

Select your account and tap the ‘Add money’ button to find our list of deposit methods. All our accounts are FSCS protected, find out more about our Savings Accounts here.

Chip Instant Access Account (Powered by ClearBank)

Our most popular account. Get a highly competitive interest rate, with almost instant deposits and withdrawals.

Chip Cash ISA (Powered by ClearBank)

Designed to give you a tax-efficient way to save with full flexibility. Keep more of your interest in your pocket.

Chip Prize Savings Account (Powered by ClearBank)

A fresh take on how you’re rewarded for saving. With the chance to win big each month just by depositing.

Can I transfer between accounts?

Yes, you can easily transfer between Chip savings accounts. Head to the account of choice, hit “Transfer”, choose your account and amount, then confirm your transfer. You can find out more, including which accounts are eligible, here. “Pending” transactions normally take 1-2 working days to process. While funds are in transit they are held in a Chip client money account with ClearBank.

Is it free to open an account?

Yes, it’s free to download the Chip app, open and hold a savings account. Other charges may apply, including auto-saves, but these are switched off by default.

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Deposit the way that works for you

Select your account and tap the ‘Add money’ button to find our list of deposit methods. All the accounts offered through the Chip app are FSCS protected (subject to eligibility), find out how we protect your money here.

Deposit via bank transfer

You can effortlessly add money from your linked bank account in the Chip app via Open Banking.

Manual deposits from your bank

Send money to your Chip sort code and account number via your own bank.

Top up via debit card

Deposit with the debit card you’ve linked to Chip.

Google / Apple Pay

Ultimately flexibility up to £500.

Still have questions? Get in touch.

Our award-winning customer service team are here for you. If you need help getting started, or have any questions we’d love to hear from you. Here’s how you can contact the team.

In your Chip app

Go to the profile tab and select ‘Contact us’ to speak us.

Drop us an email

You can email the team at hello@getchip.uk.

Managing your account.

Chip is an award-wining app that let’s you manage your funds across our savings accounts. Learn more about how you can manage these accounts, all in one savings app.

How do I withdraw money from Chip?

To withdraw, just head to the relevant account in the Savings tab. Once you've selected it, you'll see the option to “withdraw” at the top.

After you've entered the amount and confirmed the withdrawal, you will receive confirmation in the app and via email if the withdrawal was successful.

Can I move money into different Chip saving accounts?

You can transfer in and out of Chip accounts. Head to the account of choice, hit “Transfer”, choose your account and amount, then confirm your transfer. You can find out more, including which accounts are eligible, here.

How do auto-saves work?

Chip analyses your income and spending habits and automatically calculates what you can afford to save and moves that money to your Chip account for you. Each autosave costs 45p or if you subscribe to a ChipX paid membership, you receive unlimited use of autosaves.

When does Chip pay interest?

For the Chip Instant Access Account and the Chip Cash ISA, interest is paid on the 4th business day of the month.

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How to withdraw your money

Withdraw your money from Chip at anytime. Select the account you want in the savings tab. Tap on ‘withdraw’ at the top and enter the amount, you will receive confirmation in the app and via email.

Chip Instant Access Account (Powered by ClearBank)

Typically within seconds, On occasion this may take up to two hours.

Chip Cash ISA (Powered by ClearBank)

Typically within seconds, On occasion this may take up to two hours.

Chip Prize Savings Account (Powered by ClearBank)

Typically within seconds, On occasion this may take up to two hours.

Are there any fees or penalties for withdrawing?

No. None of our savings accounts penalise you for withdrawing your funds. With our OakNorth 90-Day notice account, you’ll have to wait 90 days before the funds are put back into your bank account.

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How to transfer between Chip accounts

We’re always looking to keep things simple, so we’ve made it easy to move money between your different Chip accounts. Just select ‘Transfer’ on one of your accounts and select the account you want to move money from. Please note that not all accounts are currently available to transfer between.

Seamless money management

Transfers take place either instantly or the next working day depending on the account.

Move money between savings and investments

Transfer money between your savings accounts and investment funds in a tap of a button.

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How to set up savings goals

Set out those big financial milestones with our Goals feature and track your progress in app. To set up a goal, head to the ‘Goals’ tab and tap ‘Create a goal’. Let Chip help you get there.

Create your goal

Whether it’s a house deposit, saving for a dream trip or starting a business. Customise your goal and tell us what you want to achieve.

Allocate to your goal

Specify the amount of money you need and the date you want to have achieved your goal. You can allocate existing savings to give yourself a head start.

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How to set up automatic saving

We want you to build wealth and give you the intelligent tools to do it. It’s not always easy to find the time to sort out your savings, so we’ve automated it for you. Go to the profile tab and select ‘Savings Plans’ to make it effortless. Charges apply.

Autosaving powered by AI

Transfers take place either instantly or the next working day depending on the account.

Recurring deposits set by you

Transfer money between your savings accounts and investment funds in a tap of a button.

Top up via debit card

Transfer money between your savings accounts and investment funds in a tap of a button.

Google / Apple Pay

Transfer money between your savings accounts and investment funds in a tap of a button.

Why do I have to connect via Open Banking?

Open Banking is the secure way to give authorised providers (such as Chip) access to your financial data. We use a provider called TrueLayer who directly and securely connect your current account to Chip through an ‘Open Banking API’. Learn more about Open Banking.

Still have questions? Get in touch.

Our award-winning customer service team are here for you. If you need help getting started, or have any questions we’d love to hear from you. Here’s how you can contact the team.

In your Chip app

Go to the profile tab and select ‘Contact us’ to speak us.

Drop us an email

You can email the team at hello@getchip.uk.

Opening a Chip account takes just a few minutes. No forms, no fuss.

Get StartedGet Started
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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!

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