Content Manager
June 11, 2020

What Chip's all about

With over £150 million saved, we’re pretty proud of how far we’ve come. But how are we different from all the other apps? 

Our mission as a company is to empower everyone to save.

Whether it’s for a rainy day, a sunny day, a humid day spent in Venice, or a proud day seeing your debts finally cleared. 

We believe, very passionately, that everyone possesses the ability to save, and Chip’s 250,000 downloads is pretty compelling proof that something’s working. 

In just 365 days with Chip, our savers are able to save an average of ​£1839​ through autosaves alone. 

Our mission is to make savings accessible to everyday people. Favourable, accessible returns shouldn’t be an invite-only party

We want to dispel the ‘I can’t save’ excuse, and instead give our users a way to save that doesn’t require any effort, is maintainable and customised to your spending habits.   

When you connect Chip to your bank, our AI analyses your recent transaction history, which means if you are feeling the pinch, we’ll automatically reduce the save amount. A few pounds is better than none!

Our goal is to help you hit your goals and make you feel like you can do anything.

We’ve read how our savers have funded their weddings, holidays, festival tickets, tattoos, gotten out of overdraft, funded their kids' school supplies during lockdown, and kept themselves afloat just before payday. 

Sense of security

If the current economic upheaval has taught us anything, it’s to have a few pennies to fall back on; a ‘just in case fund’. 

Following the COVID-19 outbreak, we have heard how savers are using Chip purely as their financial safety net; a way of saving they didn’t have to think about until they really needed it. 

We saw the average monthly auto-save amount increase by £9.65, which reflects that people have more money available to be moving across to Chip, or people are turning up their autosave level.

We’re also here for the situations that deserve something a little more than a bad weather metaphor to describe them, arriving at the eloquently titled, F*ck Off Fund

F*ck Off funds are reserved for the shitty jobs you couldn’t afford to leave, difficult home dynamics you felt trapped in, or the bad relationships you didn’t feel like you could end because you couldn’t afford to move out.

The antidote to temptation 

We wanted to promote the ‘out of sight out of mind’ philosophy with Chip. By moving your money out of your everyday bank account, one that can’t be easily accessed and spent.

We then found many people's downfall was a spending rampage on payday. So, we developed Payday Put Away.​ This feature allows you to set up an automated deposit to your Chip balance the day you get paid.

You don’t have to do a thing

Manually transferring your money to a separate account fits into the same category as washing the dishes - you know your future self will thank you for doing it, but it’s just the worst. Think of us like your dishwasher.

Automation is part of so many of our lives already, why not use it to take control of your finances? From the moment you enter your bank details, we handle the rest. 

I couldn’t bring myself to save previously and didn’t know the best way to do it. I don't always remember to do things manually, so the less I have on my to-do list the better. The best part is the feeling you get when you log on and see how much you’ve managed to save without realising it. - Emma

Read how we made this wedding happen for Chip savers, Emma and Dino. 

Chip’s purpose is to help you save 

Harnessing the power of Open Banking tech, the sole function of Chip’s AI is to save just the right amount. Your regular bank won’t do that. Hair flick. 

Our algorithm calculates an amount that reflects your spending habits, meaning even if you’re particularly skint this month, you’re still putting away a pound or two.

By analysing your transaction history every few days, our AI will be able to learn more and more about you - in the least creepy way possible - we only look at the amount you're spending and spending patterns, not what you’re actually buying. You can keep your zodiac and favourite ice-cream flavour to yourself. 

We listen to you

Our Chipmunk community of more than 15,000 (and growing) VIP savers, gives us a direct line to listen to you and find out what you’re loving, and what you want to change.

Our engineers, product owners and designers regularly seek Chipmunk feedback and input on the stuff we’re building, and so we put it to our Facebook group and forum for answers. 

To read up on more perks of the posse, click here

We celebrate with you

We love nothing more than hearing how you’ve made your goals a reality. It almost emulates parenthood. 

Not that we have favourite children, but check out some of our top #ChipSaverStories. 

  • The one with Lisa, working on the frontline during a pandemic. 
  • The one with Hannah, budgeting hard to treat her daughter when lockdown is over. 
  • The one with Daria, who got to the Seychelles for under £400. 
  • The one with Natalie, who follows Eurovision all over the world. 
  • The one with Louisa, who is redirecting her savings to charity. 
  • The one with Tara, a struggling student. 

Plus, a bajillion more here

Chasing ‘the’ feeling 

You know, the one you get when you check your Chip balance after a while.

The one you get when you realise you’ve saved £500 for the first time in your life.

The one you get when you finally have enough to buy a loved one a Christmas present; take your kids on a holiday or pay that bill on time.

For those who historically found it hard to save, the feeling you get when you check your balance and see you can save. Priceless. 

We want you to be a part of our future 

We’re building an app for you, with you. We are constantly looking for ways to improve, and want to involve you in every step along the way. 

To have your say in the future of Chip, we encourage you to become a Chipmunk (it’s free y’all), and join our exclusive community and private Facebook group. 

Also be sure to follow us Facebook, Instagram and Twitter for the latest and greatest at Chip HQ. 

If you would like to submit your #ChipSaverStory, please email

Please send all other questions and tid bits to

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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