Manual Bank Deposit FAQ
Ryan avatar
Written by Ryan
Updated over a week ago

You can pay into your Chip Instant Access Account, Chip Cash ISA and Prize Savings Account by manually transferring to your own sort code and account number via another bank.

At Chip, we want to make your payments journey as easy as possible, while continuing to provide an excellent service that’s safe and secure.

In 2022, we launched Faster Payments via Open Banking for our Chip products, and while it’s been a huge success, Open Banking across financial services still has some way to go to be completely seamless for everyone. Particularly in relation to larger payments and restrictive payment limits that vary from bank to bank.

By giving the option to manually transfer from your own bank using a sort code and account number, we're providing a quick and simple solution if you're struggling to make a deposit via open banking.

How does it work?

If you have an active bank connection in Chip (the bank account displayed as connected on your profile tab), you will now be able to see a new payment option available in the deposit flow called ‘Manual Deposit’.

This option is available for the Chip Cash ISA, Chip Instant Access Account and the Prize Savings Account. Upon selecting this option, you can view the account name, sort code, account number and unique reference.

Important: You must then confirm that you will only send funds via the bank account you have linked to Chip. We can only accept funds from the linked bank account we have on record. Payments made from another source will be rejected and we’ll need to return your funds.

Copy your details and set up a payee to perform a manual bank transfer from your own banking app (or via web or branch) to send money into your Chip account.

After you have sent the funds they will arrive with Chip, usually instantly via Faster Payments, although in some cases can take up to 2 hours.

Please be aware that your bank might hold the funds for additional checks, particularly if the value of the payment is high.

Chip will then check the payment to make sure:

  • It has come from the bank account linked to your Chip account

  • It doesn’t take you over your account limits (£1 million in the CIA or £85k in the PSA)

  • Your account is currently accepting deposits

Once the above is confirmed, we will immediately accept the payment and you’ll see it reflected in your Chip app.

* If your deposit is sent using CHAPS, this might not show in your account instantly. The payment will take no longer than two working days to process.

What happens if the payment is rejected?

If for any reason your payment does not match up to one or more of the above scenarios, the funds will be returned to you by the end of the next working day. We’ll endeavour to email you wherever possible if this happens.

What happens if the connection drops from my linked account?

We will continue to accept payments from your linked account even if your Open Banking connection expires, just reconnect your account via the profile tab in-app to continue getting the best experience from Chip.

I want to switch the account I have linked to Chip, does this affect the process?

If you connect a new bank account to Chip at any time, please use that new account to manually deposit funds into Chip. You can only ever have one linked bank account with Chip, if you’re unsure about which account this is, it’s displayed in your profile tab.

Why doesn’t my bank recognise the payee for my Chip savings accounts?

In the UK, a scheme called ‘Confirmation of Payee’ was launched to help decrease what’s known as APP fraud (Authorised Push Payment). You may recognise this when you send a friend or family member funds, and it lets you know if the name matches, to try and protect you from scammers.

The savings account you hold with Chip (through our banking partner ClearBank) does not currently fall under the Confirmation of Payee scheme and this is why you're seeing this notification. When creating a payee in your bank account, your banking app will notify you that they couldn’t confirm the payee details. This messaging can potentially be off-putting but please rest assured that Chip has many security measures and checks in place to protect you from fraud, and you are safe to transfer funds into your account via direct bank transfer.

Is this service available for all my Chip savings accounts?

We can only offer this service for the Prize Savings Account, Chip Cash ISA and Chip Instant Access Account. All three products are powered by our partner bank ClearBank who support this method of receiving deposits.

Can I use my Chip sort codes and account numbers for other services?

No, per the terms and conditions of the accounts, you cannot use your Chip Cash ISA, Chip Instant Access Account or Prize Savings Account for anything other than receiving payments from your linked bank account only. You will not be able to have your salary paid into this account, create direct debits, nor any other types of payments sent or received.

I can’t see the option to view my account details for a manual transfer?

You first have to make a deposit of at least £1 to open a Prize Savings Account or Chip Instant Access account for a sort code and account number to be generated for you. Please make a deposit via one of the available in-app methods. Please also ensure you are running the latest version of the app.

I have another question

If you have further questions about manual bank transfers or anything else, please speak with our customer service team either via the in-app chat (found on the profile tab ‘contact us’) or by emailing

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