Chip is a UK savings and investing app for adults. Its best-known feature is the autosave: the app moves small amounts into savings for you, so saving happens without a decision each time. It is free to use at the basic level, with a paid plan, ChipX, that removes investing fees and per-autosave charges.
Short verdict
Chip is useful for one specific problem: you know you should save, and you never quite do. Automatic transfers take the decision out of it. As a place to hold savings, compare its rates with the best easy-access accounts before you commit, because rates change often. As an investing platform, the free plan's 0.25% fee is reasonable for small pots, and the paid plan only pays off once you have around £26,000 invested.
Plans and prices
| Feature | Basic | ChipX |
|---|---|---|
| Price | Free | £5.99 every 28 days, or £65.05 a year, with a 28-day free trial |
| Investing platform fee | 0.25% a year, minimum £1 a month per account | None |
| Autosaves | 45p each | Free and unlimited |
| Recurring deposits | Free | Free |
| Funds available | 13 | Full range |
Chip offers several savings accounts, including instant-access savings, a Cash ISA, a Smart Cash ISA and a prize savings account, alongside a Stocks and Shares ISA and a general investment account. Fund managers' own charges apply on top of Chip's fees. Chip's products are for adults aged 18 and over.
Note the billing period: "every 28 days" means 13 payments a year, not 12. Paying monthly, ChipX costs £77.87 a year. The annual plan, at £65.05, is cheaper.
Is ChipX worth paying for?
- Investing fees: at 0.25%, the free plan costs £25 a year on £10,000. ChipX at £65.05 a year only beats that above roughly £26,000 invested.
- Small pots: the £1 monthly minimum per account means the free plan costs at least £12 a year per investing account, even on a tiny balance.
- Autosaves: at 45p each, ten autosaves a month on the free plan cost £4.50, close to ChipX's price. If you rely on frequent autosaves, ChipX may pay for itself that way instead.
The cheapest route for many people is the free plan with one scheduled recurring deposit each month, which costs nothing.
How your money is protected
Chip says eligible savings deposits, including its Smart Cash ISA, are protected by the FSCS. Since 1 December 2025 that deposit protection covers up to £120,000 per person, per bank. Chip places savings with partner banks, so the limit applies per bank: check which bank holds each account if you have other savings with the same bank.
Investments are different. If an authorised investment firm fails, FSCS compensation is up to £85,000 per person, per firm, and it never covers falls in the value of your investments. Capital is at risk on Chip's investing products.
What it does well
- Saving without willpower. Automatic transfers build the habit for you.
- A free way in. The basic plan costs nothing if you use recurring deposits.
- Savings and investing in one app, including ISAs.
- A clear paid plan with no investing platform fee for larger balances.
Where it falls short
- Small charges on the free plan: 45p autosaves and a £1 monthly minimum per investing account.
- 28-day billing makes ChipX dearer than it first looks if you pay monthly.
- Limited funds on the free plan: 13 funds, against the full range on ChipX.
- Savings rates move. Always compare with the best easy-access rates elsewhere.
Who it suits
Good fit: adults who struggle to save consistently and want it automated, and beginners starting small in an ISA. If you are starting from nothing, read how to build a safety net from zero.
Probably look elsewhere: confident savers who will move money themselves, and investors with large balances who would pay less on a flat-fee platform. Chip is not for under-18s. For children's savings, see our kids' savings accounts guide.
Questions people ask about Chip
Is Chip free?
The basic plan is free, with a 0.25% yearly fee on investments (minimum £1 a month per account) and 45p per autosave. ChipX costs £5.99 every 28 days or £65.05 a year. Checked 6 October 2026.
Is my money safe in Chip?
Chip says eligible savings deposits are FSCS-protected, up to £120,000 per person, per bank. Investments are covered only if an authorised firm fails, up to £85,000, and never against market falls.
Can children use Chip?
No. Chip's products are for adults aged 18 and over.
Sources
- Chip, Pricing: plans, platform fees, autosave charges, fund range and FSCS statement. Checked 6 October 2026.
- Chip, The FSCS limit for savings is changing to £120,000. Checked 6 October 2026.
- FSCS, Deposit protection limit. Checked 6 October 2026.
Prices and rates change. Check Chip's own site before you sign up.
About this review
Slow Money Movement™ publishes general information, not personal financial advice. We are not authorised to give regulated advice. If you are unsure whether a product suits you, speak to a qualified adviser.
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