Chip Review
Comprehensive review and analysis of Chip's digital banking services
Quick Facts
- Founded
- 2017
- Head Office
- United Kingdom
- Active Customers
- 400,000+
- Total Funding
- £40 million
- Employees
- 100+
- App Store Rating
- 4.5/5
Pros & Cons
Pros
- AI-powered savings
- Investment platform
- Automatic saving rules
- High-interest accounts
- Easy to use interface
- No minimum deposits
Cons
- Some features require premium
- Limited banking features
- No physical cards
- UK-only availability
Supported Countries
- United Kingdom
Fees
- Basic Account Free
- ChipX Account £3/month
- Investment Platform 0.5% annual fee
- Withdrawals Free
- Auto-save Free
Overview
Chip has transformed savings and investing since 2017 with its AI-powered platform. Focusing on automated savings and investment opportunities, it helps users build wealth through smart technology and behavioral science.
Key Features
Savings Features
- AI-powered auto-saving
- Custom saving rules
- Interest accounts
- Savings goals
- Round-up savings
- Payday saving
Investment Platform
- Diversified funds
- ISA accounts
- Ethical investing
- Investment tracking
- Portfolio management
- Market insights
Smart Technology
- AI analysis
- Spending patterns
- Save predictions
- Goal tracking
- Performance analytics
- Risk assessment
Premium Features
- Higher interest rates
- Investment options
- Custom rules
- Priority support
- Advanced analytics
- Wealth reports
Security Features
- Bank-level encryption
- Two-factor authentication
- Biometric login
- Transaction monitoring
- FCA regulated
- FSCS protection
Customer Support
- In-app chat
- Email support
- Help center
- Community forum
- Investment guidance
- Educational content
Verdict
Chip stands out for its innovative approach to automated savings and investments. The AI-powered platform makes it easy for users to save money without thinking about it, while the investment options provide opportunities for long-term wealth building.
While some premium features require a subscription, the basic free tier offers solid functionality for most users. The main limitations are the lack of traditional banking features and physical cards, but for those looking to optimize their savings and start investing, Chip provides an excellent technological solution.