Meet the Chip Account 👋
It’s time to take Chip to the next level. We’re making Chip into the best savings account in the world, with market leading rates alongside our clever savings tech.
Right now, Chip connects to your bank, calculates what you can afford to save and saves that money for you automatically. Chip tracks your goals, and uses AI to make you hit them. It’s built to make saving as easy as spending.
We’ve nailed effortless saving, now we’re looking at how to bring returns back to savings accounts.
So, we’re working hard to introduce FSCS protected saving accounts, and building some groundbreaking tech that’ll give you the best returns on those savings.
A market leading rate 📈
We’re planning to offer Chip savers the market leading interest rate for savings on all the money held in their Chip account.
We’re going to lift the £10,000 account limit, so Chip can help people sitting on nest eggs, as well as people saving up.
And of course, these market beating rates will be for all Chip savers, whether they have £20 or £20,000 in their account. Chip is for everyone.
There’ll be even higher returns available through ChipX, our returns marketplace, where you’ll be able to smoothly move your money between bonds, investments and Chip’s very own CommunityLending.
How we’ll do it 💪
We’re looking at partnering with innovative banks to create a marketplace of interest rates, these banks will pay the bulk of your interest, but we’ll top up the rates to guarantee you’ll always be beating the market.
This means you’ll be able to effortlessly make sure you’re getting the most out of your money.
Working with these banks will enable us to make sure your money is held in FSCS protected accounts, with government-backed protection up to £85,000..
What is FSCS protection? 🙋♂️
The Financial Services Compensation Scheme (FSCS) is the government’s pledge to guarantee up to £85,000 of the money people have in their bank or savings account.
It means your money is absolutely safe, whatever happens. Don’t take our word for it, read all about it on the FSCS website.