Please see the full terms and conditions for this promotion here.
The basics
What is the Spring Draw?
The Spring Draw is a prize draw operated by Chip Financial (Investments) Limited on behalf of itself and Chip Financial Limited, giving members the chance to win a Grand Prize and one of 10 prizes of £10,000 Flight Vouchers. You are eligible if you are a qualifying Chip member with a total balance of at least £1,000 in:
Your Prize Savings Account or
Any other ‘Eligible Account’ or
A combination of multiple ‘Eligible Accounts’ (Smart Cash ISA, Chip Cash ISA, Chip Instant Access Account, Easy Access Saver Account, Stocks & Shares ISA, General Investment Account).
What are the prizes in the Spring Draw?
There is one Grand Prize where the winner chooses one of the following:
A 7-night Mediterranean trip on a super yacht for the winner and 11 guests.
£10,000 a month for 12 months.
Up to £200,000 to pay down an existing mortgage or towards a new property or mortgage.
There are also 10 prizes of £10,000 flight vouchers.
When does the prize draw take place for the Spring Draw?
The Prize Draw will take place on 3 June 2026. The draw period for accruing entries runs from 00:00 on 1 April 2026 to 23:59 on 31 May 2026.
Is the Spring Draw part of the Prize Savings Account draw?
No. This Prize Draw is distinct and separate from the monthly Prize Savings Account draws, which continue to run as usual.
Eligibility and entries
Am I eligible to enter the Spring Draw?
You are eligible if you are a qualifying Chip member and you hold a total balance of at least £1,000 in one of the two following ways:
Specifically in your Prize Savings Account: You must hold the full £1,000 within this account.
Across your other ‘Eligible Accounts’: You can hold £1,000 in a single account or split across multiple accounts, such as your Smart Cash ISA, Chip Cash ISA, Instant Access Account, or GIA.
Important: You cannot combine a partial balance from your Prize Savings Account with your other accounts to reach the £1,000 total. Your Prize Savings Account balance is treated separately for the entry requirement.
You are excluded if:
You opt out and do not opt back in before the draw.
You close your overall Chip account before or on 3 June 2026.
You work for Chip or its connected parties, are an immediate family member of an employee, or live in the same household as an employee.
You are in breach of any Chip terms and conditions.
How do I enter the Spring Draw?
Entry is automatic if you meet either of the following balance requirements:
Option 1: You hold at least £1,000 in your Prize Savings Account.
Option 2: You hold a total of at least £1,000 across your other ‘Eligible Accounts’ (excluding the Prize Savings Account).
Please note: You cannot combine a partial balance from your Prize Savings Account with balances from other accounts to reach the £1,000 threshold.
Existing members with £1,000+: You are entered automatically at the start of the draw period if you meet one of the criteria above.
Existing members with less than £1,000: You must make net deposits to bring your balance in your Prize Savings Account or across other 'Eligible Accounts' to at least £1,000 before 23:59 on 31 May 2026.
New members: You must download the app, open an Eligible Account, and make a settled net deposit of at least £1,000 before 23:59 on 31 May 2026.
Which accounts count towards my entries in the Spring Draw?
The following "Eligible Accounts" count:
Prize Savings Account
Smart Cash ISA
Chip Cash ISA
Chip Instant Access Account
Easy Access Saver Account
Stocks & Shares ISA
General Investment Account
How are entries calculated in the Spring Draw?
Entries are calculated daily based on your "Eligible Balance" (Opening Balance + settled net deposits - withdrawals).
Prize Savings Account: 2 entries for every full £1,000 held daily in the Prize Savings Account only.
All other accounts: 1 entry for every full £1,000 held daily across eligible accounts.
Total entries are the sum of these "Daily Accrued Entries" across the draw period.
I have multiple Chip accounts; how are my entries calculated in the Spring Draw?
Your entries are calculated based on your total balance across all Eligible Accounts. For example, if you have £1,000 in your Prize Savings Account (2 entries) and £1,000 in your Chip Cash ISA (1 entry), you would accrue 3 entries per day.
How are my entries calculated each day in the Spring Draw?
Every 24 hours during the draw period, we determine your "Eligible Balance". This is the sum of your Opening Balance (as of the end of the day 31 March 2026) plus any settled net deposits, minus any withdrawals made during the draw period up to (but not including) that day.
We round this balance down to the nearest £1,000 to calculate your "Daily Accrued Entries". Your total entries for the draw will be the sum of these daily entries added together for every calendar day the draw runs.
Please note:
Your Eligible Balance does not include any bonuses, prizes or market gains/losses experienced during the draw period.
Interest paid on savings is included in both the opening balance and the net deposit calculations.
Dividends paid on investments are included in the opening balance, but not the net deposits.
If you withdraw money, you don't lose any previously accumulated entries, but your "Daily Accrued Entries" will accrue based on the lower balance from that day onwards.
You can view your accrued entries at any time via the Chip app, and we can provide details on how your balance was determined upon request.
Do I still get Spring Draw entries if my £1,000 balance is spread across multiple Chip accounts?
This will depend on which accounts you hold a balance in. Your entries are calculated based on your total balance in the Prize Savings Account or across all other Eligible Accounts (your Smart Cash ISA, Chip Cash ISA, Chip Instant Access Account, Easy Access Saver Account, Stocks & Shares ISA and General Investment Account).
Please note that to earn 2 entries for every £1,000 held, this amount must be in the Prize Savings Account.
Example 1
If you hold £500 in your Chip Instant Access Account and £500 in your Stocks & Shares ISA, your total Eligible Balance is £1,000. This would earn you 1 entry for every day that balance is maintained during the draw period.
Example 2
If you hold £500 in your Prize Savings Account and £500 in your Stocks & Shares ISA, your total Eligible Balance would not be £1,000 and would not earn entries.
To earn entries, you could:
Bring the Prize Savings Account balance to £1,000 (earning 2 entries) or,
Bring the Stocks & Shares ISA balance to £1,000 (earning 1 entry) or,
Keep your Stocks & Shares ISA balance at £500 and add £500 to any other Eligible Account (Chip Cash ISA, Chip Instant Access Account, Easy Access Saver Account, Stocks & Shares ISA and General Investment Account), bringing your total Eligible Balance to £1,000 (earning 1 entry)..
Where can I see my entries in the Spring Draw?
You can view your accrued entries in the Spring Draw at any time via the Chip app. Just head to your Portfolio tab and look for “How many entries do I have in the Spring Draw?”
What happens to my entries in the Spring Draw if I withdraw money?
You do not lose previously accumulated entries. However, your Daily Accrued Entries will be calculated based on the lower Eligible Balance from the day of the withdrawal onwards.
Do my investments count towards entries in the Spring Draw if the market goes down?
Yes. Your Eligible Balance does not include gains or losses due to market volatility. If you sell an investment, Chip uses the original price and compares this to how your investment's unit price has changed to ensure that original capital is accounted for proportionately towards the “net deposits” in your entries.
Do ISA transfers count towards entries in the Spring Draw?
Only completed ISA transfers count towards entries. The transfer must be fully settled by 23:59 on 31 May 2026.
Can I opt out of the Spring Draw?
Yes. You can opt out by contacting Customer Support via the in-app live chat. Once the team confirms they are opting you out, it may take up to 24 hours for this to take effect.
What happens if I don't respond to the Spring Draw winning notification?
If you are the Grand Prize Winner, Chip will contact you within 10 working days from the Spring Draw Date (3 June 2026).
We will make every reasonable effort to contact you via the email and phone number connected to your Chip account as well as by Push Notification in the Chip app:
If we are unable to contact you and no response is received within 20 working days of the initial communication being sent, we reserve the right to run an additional Draw to select another winner from among the eligible customers.
Can I remain anonymous if I win a prize in the Spring Draw?
As per the terms of the promotion, your name and location will be used in any promotional activities reasonably required by Chip.
If you are a Winner, you can tell us at the time of confirmation of your Win if you object to or want to limit the amount of information that will be made available about you or your Win. If you wish to object at a later time, please contact us via the in-app live chat.
If you object, Chip will only refer to you and your Win by reference to the first initial of your surname and your location in any promotional activities.
Due to regulatory obligations, we are required to maintain your personal data internally (which will be retained in accordance with https://www.getchip.uk/legal/privacy ) and may have to provide that personal data to the Advertising Standards Authority, the Information Commissioner’s Office or the Financial Conduct Authority on request.
How are Spring Draw winners selected?
Winners are selected at random from all eligible entries across participating Chip members. This is done using a randomisation process carried out by Chip on the Prize Draw Date (3 June 2026).
Questions about prizes
How will I know if I’ve won a prize in the Spring Draw?
Chip will contact winners within 10 working days of 3 June 2026 via email and phone number connected to the overall Chip account, as well as via a push notification in your Chip app.
Do I have to pay tax on my Spring Draw prize?
Any Prizes won as part of the Prize Draw are paid without being taxed.
Winners will be responsible for any individual tax liabilities.
Chip is not able to provide tax advice. If you have questions about your tax status, please seek independent tax advice.
How long do I have to choose my Grand Prize if I’m the winner?
Once we have successfully contacted you, you have 30 calendar days to decide which of the Grand Prize options you would like to take.
Where does the money used to pay for the prizes in the Spring Draw come from?
The prizes are funded by Chip from its own resources. Customer funds are not used to fund prizes.
“7-night Mediterranean trip on a super yacht for 12 guests” prize questions
Who organises the yacht trip, and how does it work?
Chip will put the winner in contact with Fraser Yachts Spain to arrange the details of the trip.
The winner must satisfy any checks required by the broker and the yacht owner.
After completing KYC checks, the winner will agree on a suitable and available one-week period for the charter to take place during the months of May, June, September, or October 2027.
Where does the Spring Draw yacht trip start and end?
The trip takes place in Greece, with embarkation and disembarkation from Marina Athinon SEF, Athens.
Does Chip cover the cost of travel to and from the Spring Draw yacht trip?
No. The winner is responsible for transport for themselves and their guests to and from the start and end locations.
Is there a minimum age for the 12 guests on the Spring Draw yacht trip?
There is no minimum age requirement for the 12 guests joining the yacht trip. Please bear in mind that any children have to be under the supervision of adults for the whole trip.
What costs does Chip cover on the Spring Draw yacht trip?
Chip covers the cost of yacht hire, crew, fuel, consumption, and tips. Chip is not responsible for any additional costs incurred during the trip.
When can I take the Spring Draw yacht trip?
The trip must take place over a one-week period in May, June, September, or October 2027. Dates must be confirmed by 30 January 2027.
“Pay down your mortgage” prize questions
How does the “Pay down your mortgage” prize work in the Spring Draw?
To be eligible for the mortgage prize, you must either have a UK residential mortgage in your name or intend to take out a UK residential mortgage in your name.
If you choose this option:
We will make one single payment of up to £200,000 towards your mortgage.
This amount will cover the principal balance, as well as any early repayment charges, valuation, conveyancing, and interest applied by your provider.
You must provide evidence of your mortgage and authorise your provider to disclose account information and accept payment from Chip.
If you do not yet have a mortgage, you must provide a copy of a mortgage offer within 120 days of choosing this prize.
Can I still win the “Pay down your mortgage” grand prize in the Spring Draw if I don’t have a mortgage right now?
Yes. If you intend to purchase a UK residential property, you must provide us with a copy of your mortgage offer or sale memorandum offer within 120 days of choosing this prize option.
Will the “Pay down your mortgage” Spring Draw prize cover my early repayment charges?
Yes. The £200,000 payment contributes toward the principal balance, early repayment charges, valuations, conveyancing, and interest applied by the provider. Any early repayment charges would be paid from the £200,000 total and not in addition to it.
Does the “Pay down your mortgage” Spring Draw prize apply to buy-to-let properties?
No. To be eligible, you must intend to purchase a residential property in your name in the UK or to take out a UK residential mortgage in your name.
When will the “Pay down your mortgage” Spring Draw prize be paid?
We will aim to complete the payment as soon as reasonably possible. However, the exact timing is subject to legal processes and other reasonable considerations.
“10k A month for 12 months” prize questions
How is the “10k a month for 12 months” paid out in the Spring Draw?
If the "£10k a month" prize is chosen, payments are made into the winner's Prize Savings Account or Chip Instant Access Account (or a linked bank account if these are unavailable) on or before the 5th working day of each month.
Can I get the “£10k a month for 12 months” Spring Draw prize as one upfront payment?
No. If you choose the “£10k a month for 12 months” Spring Draw prize, the payments are made in monthly instalments.
The first £10,000 payment will be made on or before the 5th working day of the month following the Prize Draw Date (June 2026). Each subsequent £10,000 payment will then be paid on or before the 5th working day of each month for the following 11 months, so your total payments will amount to £120,000.
“£10,000 flight vouchers” prize questions
Which airlines can I use the £10,000 flight vouchers with?
The vouchers are provided via Flightgift, which can be used with over 400 airlines.
How long do I have to spend the £10,000 flight vouchers?
The vouchers are valid for up to 2 years.
Can the £10,000 flight voucher be split across multiple bookings over the 2 years, or does it have to be used in one go?
Yes, the £10,000 flight voucher from Flightgift can be used to pay for multiple bookings.
According to Flightgift, if your booking costs less than the value of your voucher, the remaining balance stays valid for future bookings within the two-year period.
Need further help?
If you have any further questions, please 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.