What deposit methods are there?

You have several easy ways to add money to your Chip account, so you can choose the one that works best for you.

A connected bank transfer is a quick and secure way to deposit money into your Chip account directly from your linked bank account. It works using Open Banking technology, which allows you to give us permission to securely initiate a transfer on your behalf, without you having to manually enter your sort code, account number, or reference every time.

You'll always be in control and will need to approve the transfer with your bank before it's completed.

A manual bank transfer is a great option if you can't use a connected bank transfer. We'll give you a unique sort code and account number for each of your savings accounts, so you can send money from your linked bank account using your own banking app. This can be particularly useful for larger payments that might have limits with Open Banking.

Money sent this way typically arrives in your Chip account instantly via Faster Payments. For your security, please make sure the money is sent only from the linked bank account you have with Chip. Any deposits from a different account will be automatically rejected and returned.

A card deposit lets you add money to your Chip account directly from your debit card, just like an online purchase.

Please note: You can't use a card to deposit into a Chip Cash ISA.

An internal transfer makes it easy to move money between your own accounts within the Chip app. For example, you can transfer money from a savings account like your Chip Instant Access Account to an investment fund or a different savings account. It's a quick and simple way to manage your money across your different Chip products.

We currently offer the following transfers:

To the Prize Savings Account from:

To the Chip Instant Access Account from:

To the Chip Cash ISA from:

To the Chip Easy Access Account from:

To investment funds from:

To make a transfer, go to the account or fund you want to add money to, tap Transfer, and select the account you want to transfer from.

Please note: To transfer from a savings account to an investment fund, you must have made an initial deposit into the fund first. The initial deposit doesn't need to be processed yet; it can still be pending.

Recurring deposits are a great way to put your savings on autopilot! You can set up a fixed amount to be automatically transferred from your linked bank account into a chosen savings account or investment fund on a regular basis. This helps you build your savings and stay consistent with your financial goals without having to think about it.

You can read more about recurring deposits here.

Autosaves are our smart way of helping you save money without even thinking about it. We look at your spending from your linked bank account to find affordable amounts to put aside for you. For example, if you've been spending a bit more than usual, we'll save a smaller amount for you. If you've been spending less, we can save a little more.

You can read more about autosaves here.

When investing, your capital is at risk.

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.