If you’re saving up for something, you can set a goal in your Chip app - you tell Chip how much you want to save, and Chip tells you how long it’s going to take based on your current saving habits.

Your goal and your Chip balance are one and the same - so, for instance, if your Chip savings are £450 and your goal contribution is set at 75%, your goal balance will show as £337.50.

Goals are not separate pots of money, and all funds are withdrawn from your main balance.

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