Chip vs Piggo

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.

Piggo is a family pocket money app for managing allowances, chores, savings goals and children's stock portfolios. Parents can schedule recurring weekly or monthly transfers for each child, in or out. Families can set recurring chores, one-off tasks and first-come open tasks; a parent approves completed chores before rewards reach the child's account. Children can request deposits or withdrawals with a note and receipt photo for a parent to approve or decline. Parents can set savings goals and pay interest on a child's savings account. Each child can have a small portfolio showing real prices updated daily, for information and education; it does not trade securities or provide investment advice. Piggo is free while the app is in beta, listed at free, and runs on Android, iOS and web. It supports Danish, English, Spanish, German, Italian, French, Swedish and Norwegian. Piggo says it does not hold, move or pay out real money; it is intended for family bookkeeping, with an adult creating and managing the family.