TrueLayer is our trusted payment provider. Their services allow us to use Open Banking to securely connect to your bank account and help you manage your money. TrueLayer itself is an award-winning finance platform that’s already being used by some of the biggest names in the industry. We’ve been working alongside TrueLayer for several years and hope to build on our successful partnership.

By partnering with TrueLayer, Chip can offer deposits via Faster Payments Scheme: a direct transfer from your bank account into Chip without using your debit card.

To transfer funds into a savings account, head to the account in the Savings tab, click Add money then Connected bank transfer. Input the amount you would like to save and you’ll automatically be taken to your mobile banking app to securely initiate and approve the payment. You’ll then be returned to Chip, where your deposit will be confirmed.

Not only are deposits via bank transfer more secure, but customers also benefit from faster processing times, meaning your money can arrive in your Chip account sooner. Please note that deposits via bank transfer are currently available for our investment products, as well as the Chip Cash ISA, Chip Instant Access Account and Prize Savings account.

Your bank may have a maximum payment limit in place which will be dependent upon the specific bank account type and conditions such as the current balance or how many payments have been made recently. Please follow the bank-specific instructions below if you are experiencing issues depositing.

More information on bank-specific payment limits can be found here.

If you have any questions, please get in touch with us either using the Contact Us section on the Profile tab in-app or by emailing hello@getchip.uk.