Earn a bonus of up to £50 on your savings with Chip
How to earn a £50 deposit bonus with Chip?
- You must be a new user and sign up using a referral link or promotional code
- You must make a minimum deposit of £5 into your Chip account after signing up
- The bonus is usually applied after your deposit is completed and verified, usually within 30 days
- Your account must be fully verified, including linking your bank account
How to get a free 0.26% AER boost with Chip?
- Invite your friends from the ‘promos and referrals tab’ in your app.
- Share your unique referral code with your friends.
- Your friend must deposit at least £5,000 into an eligible account.
- Your friend must hold at least £5,000 in their account for 30 days.
- You will then earn an additional 0.26% AER boost for 90 days on up to £250,000 in your eligible account.
There’s no limit to the number of friends you can refer to and the more you invite, the longer Chip will boost your rate. For example, if you refer four people, you’ll get your boosted rate for the best part of a year.
About Chip
Chip is an automatic savings and investing app that uses AI to calculate an affordable amount that can be saved automatically without impacting your day-to-day life. Chip offers 3 savings accounts, including a Cash ISA, an Instant Access account or a Prize Savings account. Chip analyses spending through AI, accessing historical spending through Open Banking. Chip is compatible with most UK bank accounts and is regulated by the FCA. Whilst Chip is not a bank, it is FSCS protected as Chip’s savings accounts are provided by UK-authorised ClearBank Ltd. Chip is free to download but the autosave feature will cost 45p per autosave as well as 25p per recurring save.
Pros and cons of Chip
Pros
- Access to your money anytime.
- FCA regulated.
- FSCS protected.
- Free to download.
- Multiple account options.
Cons
- No branches.
- Not compatible with all banks (e.g. Chase).
- Recurring saves and autosaves come with a fee.
- Limited FSCS protection through the regulated banks Chip partners with.
- Only able to currently connect one bank account to Chip.
Alternative offers
We also have other similar cash sign-up bonus deals, refer-a-friend offers, and more. We also keep a regularly updated bank switch offers guide if you’re looking to switch banks.
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