November 5, 2020

Chip +1: Our new account offering 1.25% bonus.

Banks weren’t doing it, so we did. We’re bringing you the best return in the market with Chip+1.  

We’ve partnered with ClearBank to bring you an easy-access, FSCS eligible savings account, offering a 1.25% bonus on your savings up to £5,000 (on the ChipAI plan at £1.50 every 28 days) or £2,000 (on the free ChipLite plan).

Starting Monday, we will begin rolling out our Chip+1 accounts to our investors, before going live to all Chip savers.

We want to build the best savings app in the world, so we are diverting our advertising budget directly to our savers by paying this bonus directly, in return for recommending Chip to their friends. 

We think you deserve it more than Facebook and Google do. 

To unlock access to these accounts, we ask you to invite a friend, or simply be invited. 

How does it work?

If you’re already a Chip saver, you can find your Chip+1 account in your accounts tab in your Chip app. 

There’s two ways to get into Chip+1:

  • Invite a +1: Share your VIP passcode and successfully refer a friend to Chip (you both get access to Chip+1).
  • Be someone’s +1: Enter a VIP passcode given to you by a friend, or one of Chip’s partners. 

You can invite as many people as you like to Chip+1, but only one person can get access to Chip+1 using your VIP passcode. 

This person is your +1, and will be the first person to sign up using your VIP passcode. You will be able to track their progress and nudge them from your app.  

Once you are all set up, you’ll be able to choose to autosave straight into your Chip+1 account!

Can I continue just using normal Chip?

Of course. It is completely up to you whether or not you want to open a Chip+1 account. 

Why are we rolling it out slowly?

To ensure an even and fair distribution, we’ve decided to take a gradual approach with the release of Chip+1 so everything goes smoothly and we don’t reach capacity on day one. 

We’re giving our investors and Chipmunks access to the account before going out to our whole user base. 

We have decided to use a referral mechanism to unlock access to this account to further control capacity levels, as well as allowing us to grow our Chip community. 

Have questions? 

We’ve (probably) answered them in our FAQs here.

When investing your capital is at risk

Remember your Capital is at Risk and past performance is not a reliable guide to future returns. The value of your investment can go down as well as up and you might get back less than you originally invested.

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