For savings accounts
We can only close a Chip Instant Access Account, Chip Easy Access Account, or Prize Savings Account by closing your overall Chip account. If you'd prefer to stop using one of these accounts, you're welcome to withdraw your funds at any time and simply leave the account dormant.
We can, however, close your Chip Cash ISA for you. Just get in touch with our member support team and they’ll guide you through the process.
A quick note: Once your Chip Cash ISA is closed, you won’t be able to open another one with us until the next tax year.
For investment accounts
Stocks & Shares ISA
If you're still within the 30-day "cooling-off" period after opening your Stocks & Shares ISA, you can cancel it and still use your ISA allowance for the current tax year.
If it's been longer than 30 days, we can only close your Stocks & Shares ISA by closing your overall Chip account.
The good news is that you can withdraw all the funds from your account and leave it dormant. This ensures no funds are being actively used, but keeps the account open for you in the future if you change your mind.
General Investment Account
We can only close your General Investment Account by closing your overall Chip account.
If you'd like to stop using this account, you can withdraw all of your funds and simply leave it dormant. This keeps your investment account open for the future while ensuring no funds are actively being used.
Withdrawing from investments
The withdrawal process involves two simple steps:
Selling your units in the fund into uninvested cash. This can take up to 3 working days.
Withdrawing from uninvested cash to your linked bank account. This can take up to 5 working days.
Need further help?
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.