Chip Intelligent Savings Account £10 Referral Bonuses and 5% APY (UK Only)

The Chip app for iOS and Android (UK only) helps you save money intelligently with automated savings deposits based on your spending habits and what you can afford to save.

Chip’s algorithm calculates how much you can afford to save based on your spending habits, and then every few days, it automatically transfers that amount of money from your current bank account to your Chip savings account.

Plus, you can get a £10 bonus for opening a new Chip account, and you can earn up to 5% interest on your account balance through the Chip Refer-A-Friend Program.

Chip is free to use and available to UK residents only, and Chip works with NatWest, Halifax, Lloyds, Nationwide, Barclays, HSBC, First Direct, Santander, TSB, RBS, Metro Bank, and Co-operative Bank.

If you live in America, check out similar services like Qapital ($5 Bonus) and Dobot ($5 Bonus) for more savings options.

Chip App £10 Sign-Up Bonus or 1% APY Increase

You can earn a £10 bonus or a 1% APY increase on your savings balance when you open your new Chip account through a current customer’s referral.

1. Download the Chip App for iOS or Android (UK only).

2. Use the Referral Code K7HYVG (it will ask for the referral code once your account has been created). Referral code provided by Specalios

3. Create your new account and complete all of the necessary steps, which includes having to deposit at least £5 for the £10 cash bonus to be credited.

4. Once your account has been created, you have the option to either receive a £10 cash bonus or a 1% interest rate increase on your savings balance.

5. The £10 cash bonus will be available after approximately 1 week, which is about the time it takes Chip to create a Barclays Bank savings account for your deposit funds.

Please note that if you get the £10 bonus and decide that you don’t want to use the app anymore, you should “Delete Your Account” via the Chip app and then uninstall the app.

Chip Referrals £10 Cash or 1% APY Increase

Once you create your Chip account, you can participate in the Chip Refer-A-Friend Program to either receive a £10 cash bonus or 1% APY increase on your savings account for up to a 5% APY (starts at 0%).

Just access your unique Chip referral code within the app and share it with your friends and family however you like.

When a new user enters your referral code upon creating their account, you will both receive a £10 bonus or 1% APY increase on your accounts.

You can receive as many £10 bonuses as you like or up to a 5% APY in total on your savings account (Chip savings account APY starts at a 0% interest rate).

Please feel free to exchange your Chip referral codes within the comments section below this article, so that everybody can earn some extra bonus cash rewards or interest rate increases.

About Chip Financial App

Chip is an iOS and Android app that saves your money in an intelligent way.

Every couple of days, Chip calculates what you can afford to save based on your everyday spending habits.

Chip then automatically transfers that money from your current bank account to your Chip savings account.

The money that Chip saves for you is deposited into your Chip instant access savings account that you open when you join, which is held at Barclays Bank PLC.

Creating a New Chip Account

To create a Chip savings account, you need to enter your full name, date of birth, and the address at which your current bank account is registered.

Chip is currently available only in the UK and works with NatWest, Halifax, Lloyds, Nationwide, Barclays, HSBC, First Direct, Santander, TSB, RBS, Metro Bank, and Co-operative Bank.

Managing Chip Savings Deposits

Chip will automatically transfer small amounts of money every few days based on what you can afford to save.

You can cancel any save before it goes ahead, and you can pause automatic saving any time – just tap “Pause” to stop Chip saving for you and tap “Resume” to make it start again.

You can also ask Chip to increase or decrease the amount it saves by tapping “Save More” or “Save Less.”

Additionally, you can move up to £100 per day from your current bank account to your Chip savings account, but you can only move a total of £100 every 24 hours.

Earn Interest on Chip Funds

When you first sign up for Chip, you start with a 0% interest rate, but you can boost your interest rate to 5% by inviting friends – you get an extra 1% for each person that signs up with your code.

Interest is calculated weekly and paid into your account quarterly, which is every 13 weeks from the week you signed up for your Chip account.

Chip Overdraft Guarantee

Chip promises that they won’t do it, but if Chip makes an automatic saving that causes you to go into your overdraft, they’ll replace the money immediately, pay your bank’s charges, and deposit a £10 savings bonus into your account to say sorry.

Please note that if you enable overdraft saving, the Chip Overdraft Guarantee no longer applies and you are responsible for any charges or fees for using your overdraft.

If you live in the UK, check out the Chip app to set up automatic savings with a £10 referral bonus and up to 5% APY.

You may also be interested in these additional Automated Savings Services for more easy ways to save money.