Refer a friend terms and conditions
Refer a friend or sign up to Chip with your unique referral code and you could be eligible for a boosted rate (“Boosted Rate Referral Promotion”).
How to Redeem:
If you are referring someone:
1. Go into the Chip app, click on ‘Profile’ and then on ‘Promos and Referrals’.
2. From there, click on ‘Add a friend to Chip’, and your referral code should appear on the screen, share it with whoever you want to refer.
3. There is no limit on how many people you can successfully refer to Chip.
1. Go into the Chip app, click on ‘Profile’ and then on ‘Promos and Referrals’.
2. From there, click on ‘Add a friend to Chip’, and your referral code should appear on the screen, share it with whoever you want to refer.
3. There is no limit on how many people you can successfully refer to Chip.
If you are being referred:
1. Download Chip and set up your new account.
2. Enter the referral code given to you by your friend. You have 7 days to enter the code after downloading the app.
3. You must deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA and then maintain that balance for at least 30 consecutive days in either account.
4. You have 60 days to meet the referral criteria before the referral offer expires.
1. Download Chip and set up your new account.
2. Enter the referral code given to you by your friend. You have 7 days to enter the code after downloading the app.
3. You must deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA and then maintain that balance for at least 30 consecutive days in either account.
4. You have 60 days to meet the referral criteria before the referral offer expires.
Eligibility Criteria:
With all Chip promotion campaigns, you must be over 18 years old and be a resident of the United Kingdom, in order to participate.
Any Chip promotion is also subject to the eligibility requirements of a Chip account, which can be found in Section 4 of our Terms of Use.
If Chip has grounds to suspect any entrant or third party of gaming, deception or fraudulent or unreasonable conduct of any kind (including, without limitation, manipulating referral codes) or if Chip believes the promotion is being abused in any way, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.
If a referral code is shared online on a website or on social media, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.
Any Chip promotion is also subject to the eligibility requirements of a Chip account, which can be found in Section 4 of our Terms of Use.
If Chip has grounds to suspect any entrant or third party of gaming, deception or fraudulent or unreasonable conduct of any kind (including, without limitation, manipulating referral codes) or if Chip believes the promotion is being abused in any way, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.
If a referral code is shared online on a website or on social media, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.
If you are referring someone to Chip:
You could be eligible for a 90 days 0.25% annual equivalent rate (‘AER’) boost on top of your existing Chip Instant Access Account rate. To be eligible for your reward the person who has redeemed your code has to have:
- Successfully signed up to Chip (minimum app version 4.56.0) as a new user;
**A new customer is defined as someone who has never previously held a Chip account**
- Enter the referral code you were given within the 7 days you have joined Chip;
- Made at least a £5,000 deposit into the Chip Instant Access savings account or the Chip Cash ISA; and
- Held this £5,000 balance (at least) in the Chip Instant Access Account or the Chip Cash ISA for at least 30 consecutive days.
- They have 60 days to meet the referral criteria before the referral offer expires.
You could be eligible for a 90 days 0.25% annual equivalent rate (‘AER’) boost on top of your existing Chip Instant Access Account rate. To be eligible for your reward the person who has redeemed your code has to have:
- Successfully signed up to Chip (minimum app version 4.56.0) as a new user;
**A new customer is defined as someone who has never previously held a Chip account**
- Enter the referral code you were given within the 7 days you have joined Chip;
- Made at least a £5,000 deposit into the Chip Instant Access savings account or the Chip Cash ISA; and
- Held this £5,000 balance (at least) in the Chip Instant Access Account or the Chip Cash ISA for at least 30 consecutive days.
- They have 60 days to meet the referral criteria before the referral offer expires.
If you are being referred:
If you are being referred to Chip, you will be eligible for 0.25% AER boost on top of your existing Chip Instant Access AER interest rate available for 90 days. To be eligible for the reward you will have to fulfil these criteria:
- You must be a new Chip customer.
**A new customer is defined as someone who has never previously held a Chip account**
- Enter the referral code you were given within the 7 days you have joined Chip.
- Deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA.
- You must hold a Chip Instant Access Account or Chip Cash ISA balance of at least £5,000 for at least 30 consecutive days.
- You have 60 days to meet the referral criteria before the referral offer expires.
- You must be on at least version 4.56.0 of the Chip app.
If you are being referred to Chip, you will be eligible for 0.25% AER boost on top of your existing Chip Instant Access AER interest rate available for 90 days. To be eligible for the reward you will have to fulfil these criteria:
- You must be a new Chip customer.
**A new customer is defined as someone who has never previously held a Chip account**
- Enter the referral code you were given within the 7 days you have joined Chip.
- Deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA.
- You must hold a Chip Instant Access Account or Chip Cash ISA balance of at least £5,000 for at least 30 consecutive days.
- You have 60 days to meet the referral criteria before the referral offer expires.
- You must be on at least version 4.56.0 of the Chip app.
How will the promotion be applied?
- The 0.25% AER boost would be applied on top of your existing Chip Instant Access AER interest rate for 90 days, once you have met all the above requirements. In the event that the underlying Chip Instant Access Account AER interest rate changes, your total rate will also change accordingly.
- You will start accruing interest at your boosted rate within 1 working day of all criteria being met. The boosted rate will be applied on the balance you hold in the Chip Instant Access account each day.
- The interest earned from your boosted rate is paid monthly as part of your regular monthly interest payment (4th business day).
- When your boosted rate expires it will return to the existing Chip Instant Access Account interest rate.
- If you refer more than one person successfully, you will be eligible for boosted rates on multiple occasions, depending on how many referrals are successful. You will receive a 0.25% AER boosted rate across a 90-day period for each customer successfully referred. For example, if you successfully refer 2 people, you will receive a boosted AER rate across 2 separate 90 day periods.
- If you do not have a Chip Instant Access Account open at the time the referral criteria are met, we will not be able to apply the 0.25% AER boost to your account. The 0.25% AER boost will be applied once your Chip Instant Access Account is open and for 90 days after that.
- You will start accruing interest at your boosted rate within 1 working day of all criteria being met. The boosted rate will be applied on the balance you hold in the Chip Instant Access account each day.
- The interest earned from your boosted rate is paid monthly as part of your regular monthly interest payment (4th business day).
- When your boosted rate expires it will return to the existing Chip Instant Access Account interest rate.
- If you refer more than one person successfully, you will be eligible for boosted rates on multiple occasions, depending on how many referrals are successful. You will receive a 0.25% AER boosted rate across a 90-day period for each customer successfully referred. For example, if you successfully refer 2 people, you will receive a boosted AER rate across 2 separate 90 day periods.
- If you do not have a Chip Instant Access Account open at the time the referral criteria are met, we will not be able to apply the 0.25% AER boost to your account. The 0.25% AER boost will be applied once your Chip Instant Access Account is open and for 90 days after that.
General
- Chip reserves the right to modify or terminate the Boosted Rate Referral Promotion at any time without notice.
- Once as a new user, you have entered the referral code shared with you, you have 60 days to meet the referral criteria before the referral offer expires. To meet the referral criteria you need to deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA and you must hold a balance of at least £5,000 in either of these accounts for at least 30 consecutive days.
- If your Chip Instant Access Account or Chip Cash ISA balance fell below the minimum balance at any point during the holding period, then your holding period countdown will start again from 0 once you meet the minimum balance again.
- Each referral code generated for a Chip user is unique for that Chip user but can be used in relation to different Chip promotions. When you enter the referral Code, you will be eligible for the Chip promotion currently available as use of the referral code is governed by time of activation rather than the reason the code was shared.
- Once as a new user, you have entered the referral code shared with you, you have 60 days to meet the referral criteria before the referral offer expires. To meet the referral criteria you need to deposit at least £5,000 into the Chip Instant Access Account or the Chip Cash ISA and you must hold a balance of at least £5,000 in either of these accounts for at least 30 consecutive days.
- If your Chip Instant Access Account or Chip Cash ISA balance fell below the minimum balance at any point during the holding period, then your holding period countdown will start again from 0 once you meet the minimum balance again.
- Each referral code generated for a Chip user is unique for that Chip user but can be used in relation to different Chip promotions. When you enter the referral Code, you will be eligible for the Chip promotion currently available as use of the referral code is governed by time of activation rather than the reason the code was shared.
Who are Chip?
Chip is a trading name of Chip Financial Ltd and is authorised by the Financial Conduct Authority under the Payment Services Regulation 2017 for the provision of payment services. Firm Reference Number 911255.