Chip Promo Code: CHIP-BGK748
24th June 2025 Latest Update: Sign up for a Chip savings account with Chip promo code: CHIP-BGK-748 and get £20 free cash when you deposit at least £1 in the Chip Instant Savings Account and hold this balance for at least 30 days.
Comprehensive Guide to the Chip Savings App
Introduction to Chip
Chip is a leading UK-based financial technology app launched in 2017 with the mission to simplify and streamline saving and investing. Combining powerful artificial intelligence (AI) and Open Banking, Chip offers automated savings, convenient investment opportunities, and practical tools designed to meet the diverse needs of beginners and seasoned savers alike. With over half a million active users, Chip has become a trusted name in personal finance.
Key Features and Functionalities
At the heart of Chip’s appeal is the innovative Autosave feature. Utilizing advanced AI, Chip analyzes your spending patterns and calculates precisely how much you can comfortably afford to save. It then automatically transfers small, manageable amounts into your Chip account, effectively growing your savings effortlessly.
Beyond automated savings, Chip enables users to establish recurring deposits tailored to their personal schedules, allowing routine contributions towards savings goals. Users can easily set up multiple financial goals within the app, such as holidays, home deposits, education funds, or emergency reserves, complete with visual tracking tools that clearly indicate progress.
Variety of Savings and Investment Accounts
Chip caters to different savings objectives by offering a range of distinct account types. Below is a breakdown of the savings and investment options:
| Account Type | Description | Interest Rates/Features | Withdrawal Access |
|---|---|---|---|
| Instant Access | High-interest savings with immediate access to funds. | Frequently boosted promotional interest rates. | Unrestricted |
| Easy Access Saver | Competitive interest rates, especially appealing to new users. | Attractive introductory rates, steady standard rates. | Flexible and easy |
| Cash ISA | Tax-free savings account with attractive introductory rates. | Competitive ongoing rates, tax-free advantages. | Easy access |
| Prize Savings | Savings account with prize draws instead of traditional interest. | Monthly prize draws with substantial cash prizes. | Unrestricted |
| Stocks & Shares ISA | Tax-efficient investments in diversified portfolios. | Tax-free up to £20,000 annually, wide range of investment options. | Limited liquidity, designed for longer-term investment |
| General Investment Account (GIA) | Flexible investment account for amounts exceeding ISA limits. | Diverse investment options, flexible contributions. | Variable liquidity based on investments |
Chip simplifies access to Stocks & Shares ISAs, allowing users to invest tax-free up to an annual limit of £20,000. The General Investment Account (GIA) accommodates investments exceeding ISA limits, offering users flexibility and variety. Investment choices within Chip range broadly from index trackers and actively managed funds to thematic investments, bonds, and commodities from trusted institutions like Vanguard and BlackRock.
Platform Security and Customer Support
Security and trustworthiness are core principles at Chip. All user funds are protected by the Financial Services Compensation Scheme (FSCS) for amounts up to £85,000 per user. Chip employs industry-leading Open Banking technology and robust encryption to ensure secure data handling and transaction safety. Fully regulated by the Financial Conduct Authority (FCA), Chip meets rigorous standards and compliance requirements.
Customer support is another area where Chip excels. The app provides prompt and reliable customer assistance through an accessible in-app chat function, available seven days a week, ensuring user concerns are addressed efficiently and satisfactorily.
Fees and Subscription Plans
Chip’s services are structured around a flexible pricing model. The basic version of Chip is free, offering essential saving and investment functionalities with nominal fees for specific automated transactions and investment platform usage. Alternatively, ChipX, the premium subscription service available for a modest monthly fee, offers extensive benefits, including unlimited autosaves, zero investment platform fees, and a broader selection of advanced investment funds.
How to Sign Up for Chip
Registering with Chip is effortless and user-friendly. Begin by downloading the Chip app from either the Apple App Store or Google Play Store. After installation, users quickly register by entering personal information and completing a straightforward identity verification process that typically involves submitting a photo of their identification and a selfie.
Next, securely link your bank account through Chip’s Open Banking integration. This secure connection enables the app to analyze spending patterns and execute automated savings transfers seamlessly. Once connected, users select their preferred savings or investment account, instantly beginning their financial journey with Chip.
Using the Chip Promo Code (CHIP-BGK748) for £20 Free
New Chip users have an excellent opportunity to boost their initial savings using the promo code CHIP-BGK748. This referral incentive rewards new users with a £20 bonus, creating a motivating head start to their financial goals.
To benefit from this offer, simply enter the referral code CHIP-BGK748 during the signup process. Following registration, users must deposit a minimum of £1 into their Chip account within seven days. The £20 reward is then credited to the user’s Chip account within 30 days after the qualifying deposit.
Terms & Conditions of the Referral Offer
The promotional bonus is exclusively available to first-time Chip users who are UK residents aged 18 or older. To receive the bonus, users must deposit the required minimum amount within seven days of account opening. While users can withdraw their bonus immediately after it is credited, the initial deposit must remain in the account until the bonus is paid.
Each user is limited to one referral code usage, and this promotion cannot be combined with other offers. Chip reserves the right to modify or discontinue the promotion at any time and may withhold bonuses in cases of suspected misuse or fraudulent activity.
Final Thoughts
Chip stands out as an innovative and highly efficient solution for anyone looking to simplify their approach to savings and investments. Its sophisticated AI-driven features, competitive interest rates, comprehensive security measures, intuitive user experience, and responsive customer service make it an excellent choice for savers and investors in the UK.
Leveraging the chip promo code CHIP-BGK748 allows new users to immediately capitalise on a generous £20 bonus, enhancing their initial savings experience and making Chip an even more attractive option for improving their financial health.
