Chime vs Chip
Chime
chime.com
Chip
getchip.ukSide by side
| Figure | Chime | Chip |
|---|---|---|
| Price from | — | £5.99/mo |
| Free plan | — | Yes |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | — |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 0 | 4 |
| Spec score · Automated Savings Apps | 7.0 (#18) | 8.3 (#6) |
| Savings goals | Up to 10 named Savings Goals with progress tracking. | Customers can create savings goals, set a target amount and date, and allocate existing savings to a goal. |
| What it does | A mobile banking app with automatic savings tools and a high-yield savings account; conditions apply (Chime footnote, could not read). | Chip offers savings accounts and investment funds in one app to help customers build long-term wealth. |
Plans
In their own words
Chip
Chip is a savings and investment app for Android and iOS, bringing savings accounts and investment funds together for people building long-term wealth. Customers can create goals with target amounts and dates, then assign existing savings to them. The app can analyse income and spending to estimate what a customer can save and move money automatically. Each autosave costs 45p unless the customer has ChipX. Available products include savings accounts, a Smart Cash ISA, a Stocks & Shares ISA, a General Investment Account and a personal pension. Chip connects current accounts through TrueLayer and an Open Banking API; Chip says permissions are re-authenticated every 90 days. Basic is free, with autosaves at 45p each and a 0.25% annual investment platform fee. ChipX costs £5.99 every 28 days and includes unlimited autosaves and no platform fees. Eligible ClearBank savings deposits may receive FSCS protection up to £120,000 across ClearBank accounts, subject to eligibility. Eligible investment claims may qualify for up to £85,000, excluding investment performance.