What do the different autosave settings mean?

You have total control over your autosaves. Here is a simple guide to what each setting does.

This setting lets you decide if you're happy for us to take an autosave even if you're in your overdraft. We turn this off by default. If you switch it on, you'll need to set a limit in the Max overdrawn section. As a safety measure, we'll never take an autosave if you're in your overdraft and haven't set this limit.

You can set a minimum amount for your linked bank account here. If your balance is already below this amount, we will pause your autosaves.

Important: This setting won’t prevent an autosave from taking you below the amount you've set. We recommend setting this figure slightly higher than you need.

This is where you choose which savings account or investment fund your autosaves will go into. You can only autosave into one account at a time. If you want to split your savings across multiple accounts, setting up recurring deposits might be a better option for you.

This tells Chip how conservative or aggressive to be with your autosaves. A level 1 means we'll be very cautious, putting aside smaller amounts. At level 5, we'll be more confident and save a larger amount for you. Since your autosaves are personalised to you, these levels are not linked to specific amounts.

If you have any further questions, get in touch with our support team using the in-app chat (this can be found in the Contact us section on the Profile tab) or by email at hello@getchip.uk for further help.