Chip
Chip · London, England, UK · founded 2017
What it is
Chip is an Android and iOS app combining savings accounts and investment products for customers building long-term wealth. Options include a Smart Cash ISA, Stocks & Shares ISA, General Investment Account, and personal pension. Users can set goals with target amounts and dates, then assign existing savings to them. Chip can analyze income and spending patterns to estimate an amount to save and transfer it automatically; each autosave costs 45p on Basic. The free Basic plan has a 0.25% annual investment platform fee, access to thirteen funds, and a £1 monthly minimum per product. ChipX costs £5.99 every 28 days and includes unlimited autosaves, no platform fees, and access to all investment funds; the listed plan offers a 28-day free trial. Current accounts connect through TrueLayer and Open Banking, with permissions re-authenticated every 90 days, according to Chip. Eligible deposits in savings accounts powered by ClearBank may qualify for FSCS protection up to £120,000 across ClearBank accounts, subject to eligibility. Eligible investment claims may qualify up to £85,000, but this does not cover investment performance. Chip says it is not a bank and does not provide branches, debit cards, ATM access, or financial advice.
For and against
For
- Available on Android and iOS
- Offers savings goals with target amounts and dates
- Includes savings accounts and several investment products
- ChipX includes unlimited autosaves
- Support is listed seven days a week
Against
- Basic autosaves cost 45p per save
- Basic has a 0.25% annual investment platform fee
- No branches, debit cards, or ATM access
- Does not provide financial advice
The verdict
Chip brings savings goals, automatic transfers, and investment products together in a mobile app. Its fees, lack of bank services, and the eligibility conditions on protection are important to weigh.
Who it suits
Chip may suit people who want savings goals, automatic saving, and savings or investment products in one mobile app. Consider its autosave and investment fees when choosing between Basic and ChipX.
Plans and prices
Basic
Access to savings accounts · Autosaves available for 45p per save · Recurring deposits · 0.25% investment platform fee
Read 20 Sep 2026 · getchip.uk
ChipX
Unlimited autosaves · Unlimited recurring deposits · 0% investment platform fees · Access to all investment funds
Read 20 Sep 2026 · getchip.uk
Basic plan
Autosaves: 45p per save · investment platform limited to thirteen funds · 0.25% annual platform fee; £1 monthly minimum per product
Read 28 Sep 2026 · getchip.uk
ChipX plan
28 day free trial · unlimited free autosaves · no platform fees · access to all investment funds
Read 28 Sep 2026 · getchip.uk
On the record
- Accounts
- The app offers savings accounts, a Smart Cash ISA, a Stocks & Shares ISA, a General Investment Account and a personal pension.getchip.uk · read 28 Sep 2026
- Automatic saving
- Chip analyses income and spending habits to calculate what a customer can afford to save and move money automatically; each autosave costs 45p unless the customer has ChipX.getchip.uk · read 28 Sep 2026
- Bank connection
- Chip uses TrueLayer to connect a customer's current account through an Open Banking API.getchip.uk · read 28 Sep 2026
- Company history
- Chip says it was founded in late 2017 and began with automatic savings.getchip.uk · read 28 Sep 2026
- Company regulation
- Chip Financial Group Ltd is FCA-authorised for payment services and Chip Financial Wealth Ltd is FCA-authorised as a MiFID investment firm.getchip.uk · read 28 Sep 2026
- Investment protection limit
- Eligible claims for Chip Stocks & Shares ISA and General Investment Account assets may qualify for FSCS compensation up to £85,000, which does not cover investment performance.getchip.uk · read 28 Sep 2026
- Savings goals
- Customers can create savings goals, set a target amount and date, and allocate existing savings to a goal.getchip.uk · read 28 Sep 2026
- Savings protection
- Eligible deposits in Chip savings accounts powered by ClearBank are covered by the FSCS up to £120,000 across ClearBank accounts, subject to eligibility.getchip.uk · read 28 Sep 2026
- Security
- Chip says Open Banking is regulated by the FCA and permissions are re-authenticated every 90 days.getchip.uk · read 28 Sep 2026
- Service limit
- Chip says it is not a bank, has no physical branches or debit cards, does not provide ATM access or financial advice, and is available only through its app.getchip.uk · read 28 Sep 2026
- Support
- Chip says its support team is available from 8am to 8pm on weekdays and 9am to 6pm on weekends.getchip.uk · read 28 Sep 2026
- What it does
- Chip offers savings accounts and investment funds in one app to help customers build long-term wealth.getchip.uk · read 28 Sep 2026
