Chip are currently running a straightforward £50 cash bonus offer for new customers. Deposit £5,000, hold it for 90 days, and they’ll hand you a guaranteed £50. Simple as that.
Chip is an intelligent savings app that uses AI to analyse your spending habits and automatically sets aside small, affordable amounts, helping you grow your savings effortlessly. Alongside their automated tools, they offer a range of accounts including Instant Access, Cash ISA, and Prize Savings.
Chip Promo Code: CHIP-LVD016
Above is the current Chip promo code for anyone ready to jump in and claim their promo code right away.
Or, keep reading below for simple step-by-step instructions.
How to Claim Your £50 Bonus:
- Sign up to Chip using this link or enter the code ‘CHIP-LVD016’ when registering
- Deposit at least £5,000 into your Chip account — this can be split across multiple Chip savings or investment accounts (for example, their Cash ISA currently paying 3.81% AER)
- Maintain a minimum balance of £5,000 for 90 consecutive days
- Your £50 bonus will be paid into your Chip Instant Access Account or Prize Savings Account within 5 working days of meeting the criteria
Qualifying Accounts for your £5000 deposit:
- Easy Acces
- Chip Instant Access
- Smart Cash Isa
- Prize Savings Account
- Cash Isa
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What is Chip?
Chip is a UK-based savings and investment app designed to make growing your money as effortless as possible. Their AI-powered technology analyses your income and spending, then automatically moves small amounts into savings on your behalf — so you’re building a pot without even thinking about it. Beyond the automated savings, they offer a range of accounts to suit different goals, from easy access savings and Cash ISAs to Prize Savings and investment options
Is the £50 Bonus Worth It?
If you’ve got £5,000 sitting in a current account doing very little, this is a no-brainer. You’re getting a guaranteed £50 bonus on top of whatever interest your chosen Chip account earns over those 90 days. The only real consideration is making sure you won’t need access to that money for the full 90 consecutive days — if you can commit to that, it’s a very easy win.
Good luck!
What Accounts Does Chip Offer?
One of the nice things about this offer is that your £5,000 doesn’t have to sit in a single account — it can be spread across any combination of the following:
- Instant Access Account — A flexible savings account where you can deposit and withdraw freely. Great if you want to keep things simple while still earning interest.
- Cash ISA — Currently paying 3.81% AER, this is a tax-efficient way to save. Any interest earned is completely free from UK income tax, making it a smart home for your £5,000 if you haven’t used your ISA allowance this year.
- Prize Savings Account — Think of this like Premium Bonds. Rather than earning traditional interest, your balance earns you entries into a monthly prize draw, with the chance to win cash prizes. You earn one entry per £10 held in the account each month.
- Investment Accounts — For those happy to take on a little more risk for potentially higher returns, Chip also offers investment options. These can count towards your £5,000 balance for the bonus, though it’s worth bearing in mind that investment values can go down as well as up.
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