Chip is an app designed to help you put some money away and also feel good about it. It’s an automated application which does all the effort to make saving cash as easy as spending it.
Let’s face it – costumers often struggle to save money. With materials and workspace to invest in and payments often irregular and minor for the work put in, keeping a nest egg is a wise step to avoid expensive loans when income doesn’t cover expenses. This is one of many many trials of freelance costume, especially if you’re in the early days of starting a business online.
Chip puts cash away for you with a smart method, based upon your investing behaviour. The algorithm calculates just how much you can manage to move into your Chip account, without having an influence on your life. Chip immediately moves tiny quantities of funds from your existing account into your Chip account, every couple of days. Hailed as a fintech – that’s “financial technology” – startup along the lines of Monzo, Revolut and Etoro, Chip is part of a new wave of open banking set to revolutionise how we save and spend.
Get More Interest On Savings With Chip
Your Chip account is a cash savings account held under Barclays. Use code E0IZJZ in the app to get 1% interest right away and you can get an extra 1% on your savings for each friend you welcome up to a limit of 5%.
You can additionally break open the piggy bank anytime, making Chip one of the very best immediate access accounts around. As well as the friendly chatbot interface makes it all a little bit of enjoyable.
Link Chip App To Your Bank Account.
Offer Chip read-only accessibility to your bank account (your information are safeguarded making use of 256-bit bank-grade encryption).
Chip connects well with Barclays, HSBC, Santander, Lloyds, NatWest, Nationwide, RBS, TSB, Halifax, First Direct, Co-operative Bank and Metro Bank accounts.
“We believe we’re building the best savings account – one which makes stashing away money as easy as spending it,” says Chip founder and CEO Simon Rabin.
According to the app, there are already 75,000 Chip account holders, and it has processed £58 million of savings since last year’s crowdfunding round.
Rabin says: “This record-breaking funding round will allow us to accelerate this, on-boarding millions more users and launching new innovative features.”
Alex Latham, Chip’s chief marketing officer, adds: “We are becoming the challenger bank for savings and the enthusiasm of our savers to invest in the company is a fantastic endorsement.”
Chip user Amy, 23, told Chip “Having money going into my account regularly was a shock – as was being in London for the first time. I wasn’t disciplined enough to budget or save so I ended up spending randomly and had nothing to show for it at the end of the month. I’ve built up a decent stash already. I feel like I have more control over how I spend my money, and I’m planning a holiday for the summer.”