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Eligible deposits are protected under the Financial Services Compensation Scheme up to £85,000.

Why save with us?

It’s time to rethink. Chip’s Prize Savings Account is a radically new way to save, here’s why:

Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

4x more likely to win.

With each entry, you have a 1 in 6,056 chance of winning, compared to the odds with Premium Bonds, which are at 1 in 24,473 (based on Sept 22 Draw).

Instant withdrawals.

NS&I Premium Bonds withdrawals sometimes take 6 days. Ours are usually almost instantaneous.

Fully FSCS Eligible

Eligible deposits into the PSA are protected under the Financial Services Compensation Scheme up to £85,000.

* The Chip Prize Savings Account (“PSA”) is not a premium bond. Deposits into the PSA are FSCS eligible, subject to the Scheme's conditions, whereas premium bonds are backed by HM Treasury.

We’re trusted by over half a million people building real wealth.

It’s free to enter. Every £10 deposit = 1 entry.

The more you deposit, the more entries you have.

You’re in a free prize draw each month, but instead of buying tickets to enter, every £10 you deposit and hold in the account gets you one entry (but you need an average balance of £100 in the account to be entered in the draw at the end of each month).

How to sign up.

Get started in minutes and be in with a chance of winning.

Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

Scan QR code to download Chip and open an account.

1

Download the Chip app and open an account.

4.5 rating 13,019 reviews

Get Chip
2

Deposit

Every £10 deposited gets you one entry to win, provided you have an average balance of at least £100 by the end of the month.

3

Draw

You’ll be entered into the draw, where the winner will be revealed within a week of the closing date.

4

Win!

Prize winners will be notified by the 7th of every month following the draw date.

Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

Scan QR code to download Chip and open an account.

1

Download the Chip app and open an account.

4.5 rating 13,019 reviews

Get Chip
2

Deposit

Every £10 deposited gets you one entry to win, provided you have an average balance of at least £100 by the end of the month.

3

Draw

You’ll be entered into the draw, where the winner will be revealed within a week of the closing date.

4

Win!

Prize winners will be notified by the 7th of every month following the draw date.

Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

Scan QR code to download Chip and open an account.

1

Download the Chip app and open an account.

4.5 rating 13,019 reviews

Get Chip
2

Deposit

Every £10 deposited gets you one entry to win, provided you have an average balance of at least £100 by the end of the month.

3

Draw

You’ll be entered into the draw, where the winner will be revealed within a week of the closing date.

4

Win!

Prize winners will be notified by the 7th of every month following the draw date.

Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

Scan QR code to download Chip and open an account.

1

Download the Chip app and open an account.

4.5 rating 13,019 reviews

Get Chip
2

Deposit

Every £10 deposited gets you one entry to win, provided you have an average balance of at least £100 by the end of the month.

3

Draw

You’ll be entered into the draw, where the winner will be revealed within a week of the closing date.

4

Win!

Prize winners will be notified by the 7th of every month following the draw date.

* T&Cs, eligibility criteria and minimum balances apply. For current prize values, entry and eligibility criteria and how to opt-out see our full terms. ClearBank is solely responsible for the provision of the account and has no liability in relation to the prize draw. Chip is entirely responsible for the running and delivery of the prize draw.

How to sign up.

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Invest in whisky

You can't really sell a decent single malt until it's at least 12 years old. And typically the longer whisky matures, the more valuable it gets. So as it matures, so could your investments.

Coming soon

FSCS covered

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Award winning auto-saving.

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Competitive rates

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Competitive rates

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New prize winners every month

Will you be next month's prize draw winner?

Grand Prize of £10,000

50 additional prizes of £100

500 additional prizes of £25

250 additional prizes of £10

The winners are picked using randomisation functionality through open-source software based on the number of entries per person.

Get started today.

Get started in minutes and be in with a chance of winning.

Get Chip
Scan this QR code to download Chip.

4.5 rating 13,019 reviews

Got a question?

Check out our most popular Prize Savings Account FAQs below, or read our Prize Savings Account Terms

What is the Prize Savings Account? (powered by ClearBank)

Our new Prize Savings Account is an easy access non-interest-bearing account, giving eligible account holders the chance to win more than £10,000 of prizes each month for saving with Chip.

Entries are completely free of charge, all you need to do to enter is deposit and hold at least £100 in the account (see “How do you enter to win prizes?” in the FAQ below for more). Every £10 deposited gives you one entry.

We offer prizes for saving with Chip and want to offer an alternative to the approach of traditional brick and mortar banks and Premium Bonds.

What are the prizes?

There will be 1 (one) grand prize of £10,000 (the "Grand Prize"). There will also be 50 (fifty) additional prizes of £100 each, 500 (five hundred) additional prizes of £25 each,  and 250 (two hundred and fifty) additional prizes of £10 each, (collectively, the "Additional Prizes") per Competition (each, a "Prize").

How is the prize awarded if you win?

Should you win a prize, all non-grand prize winners will be awarded their prize by the 7th of the month, and will be contacted via email.

We will reflect your prize in your Prize Savings Account within 7 days after the prize draw.

The prize does not become cash until your full balance is withdrawn back to your current account. It also does not count towards additional entries, unless you withdraw it and redeposit.

How do you enter to win prizes?

Each month you will be entered into a prize draw provided you have an average balance of £100 or above in the Prize Savings Account and have not opted out.

The average balance you have on 11:59pm on the last day of the calendar month (the end of the Qualifying Period in the T&Cs) is what gets counted as your entries, with every full £10 deposited counting as one entry.

You need an average balance of at least £100 throughout the month to enter. For example, if you have an average balance of £100 on 11:59pm on the last day of the calendar month you’d get 10 entries each calendar month (unless you opt out).  If your average balance drops below £100, and remains at that level at the end of the calendar month, you’d have 0 entries in that month’s prize draw  (if you choose to opt out of the draw, you’ll have 0 entries, regardless of your balance).

Your average balance is calculated by your daily balance divided by the number of days in the month. For example, if you deposit £10,000 on the first day of the month and hold it for the entire month, the average balance for the month is £10,000 and therefore you will get 1,000 entries into the draw. However, if you deposit £10,000 on the last day of the month, the average will be based on 29 days of zero balance and 1 day of £10,000, giving you an average balance of £333 for the month and 33 entries in the draw.

Your entries will be taken at the end of the calendar month, but the draw will take place in the first week of the following month (no later than 5 working days after the end of the calendar month). For example, if you have an £10,000  average balance in the account on 30 September at 11:59pm, you would have 1,000 entries in the September Prize Draw, but the draw itself would take place within the first 5 working days of October. Your balance in the account would then automatically be entered into the October prize draw, which will then be drawn in November, and so on.

How and when are the winners picked?

The draw will take place within 5 working days after entries close (i.e. in the first 7 working days of the following month), with the winners’ accounts credited within 7 working days after the draw.

The winners are picked using randomisation functionality through open-source software based on the number of entries per person.

Unless you opt out, you get more entries by depositing more, and the more entries you have, the more chances you have of being selected.

Can I autosave into this account?

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.