Chip review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Chip's Smart Cash ISA suits UK savers who want a flexible cash ISA with no term to serve and money they can reach. Withdrawals are on demand and arrive the next working day, and the balance is covered by FSCS up to GBP 85,000 under a Financial Conduct Authority licence in the United Kingdom.
Key facts
- Best for
- A flexible cash ISA with no monthly charge and on-demand withdrawals.
- Headline rate
- 4.5%↗
- Rate type
- Variable↗
- Minimum deposit
- £1↗
- Deposit protection
- FSCS up to GBP 85,000↗
- Access terms
- Flexible cash ISA, on-demand withdrawals arriving next working day, interest calculated daily and paid monthly↗
- Monthly fee
- £0↗
- Account kind
- ISA↗
- Legal entity
- Chip Financial Wealth Ltd↗
- Headquarters
- United Kingdom↗
- Support channels
- Email, Chat, Help-centre, Community↗
- Pricing model
- No monthly fee
- Official website
- getchip.uk
Facts checked September 26, 2026, 3 sources
Apps and profiles
- Get the app
- App Store
Pros and cons
Pros
- A headline rate of 4.5%, above the lower quartile rate of 3.97% across the cash ISAs in the comparison.
- Deposits are covered by FSCS up to GBP 85,000, and the account is regulated in the United Kingdom by the Financial Conduct Authority under licence 911255.
- On-demand withdrawals arrive the next working day, so part of the balance can be reached without closing the account.
- The account is flexible, so money can stay in for as long as suits instead of being tied to a notice period or a fixed term.
Cons
- The rate is variable, so the headline rate of 4.5% can move in either direction and no return is locked in.
- Support runs on email, chat and help centre, with no phone channel among the options, so a query has to be written down.
- Interest is worked out each day but paid once a month, so credited interest lags what the balance has accrued.
- Cover runs to FSCS up to GBP 85,000, so a balance above that figure would sit outside the scheme.
Who it suits
- UK savers who want a cash ISA paying a market rate without locking money into a fixed term.
- Anyone who needs part of the balance reachable quickly, with withdrawals landing the next working day.
- Savers who are comfortable with a rate that moves, since the account pays a variable rate on a flexible basis.
Who should look elsewhere
- PayPal Colombia, whose headline rate of 3.3% sits below Chip's 4.5%, so the rate comparison does not favour it.
- AXI Card Tarjeta y Credito, listed at 21.59%, for readers chasing the largest rate figure rather than UK deposit cover.
Deposit protection
The Smart Cash ISA is authorised in GB by the Financial Conduct Authority under licence 911255, so it sits inside the UK regulated perimeter rather than outside it. Deposits are covered by FSCS up to GBP 85,000, which means cash held in the account is inside a UK deposit protection scheme rather than uncovered. A balance above the covered figure would fall outside the scheme, so a larger saver would need to keep the excess elsewhere.
Access to your money
The Smart Cash ISA is flexible, so money can come out whenever a saver wants it and there is no term to serve. Withdrawals are on demand and arrive the next working day, which suits anyone keeping part of the balance reachable. Interest is worked out each day and paid once a month, so the credit lands on a set point in the month rather than straight away. The rate is variable, so the annual figure follows the market and can fall as well as rise. The trade-off is clear: access on demand in exchange for a rate that is never locked in.
The company behind it
The account is run by Chip Financial Wealth Ltd, a company based in the United Kingdom, and it is authorised by the Financial Conduct Authority under licence 911255. Support runs on email, chat and help centre, so help is available by email, in chat, through the help centre and via the community. A question that needs a written record can be sent by email, a quick one can go to the chat team, and the help centre carries the longer answers. Contact is written or in chat rather than by phone.
How Chip compares
9.2 vs 8.6
9.2 vs 9.5
9.2 vs 8.0
9.2 vs 8.9
9.2 vs 8.9
9.2 vs 9.1
9.2 vs 9.1
9.2 vs 8.9
9.2 vs 8.7- 9.2 vs 8.0
9.2 vs 9.0
9.2 vs 8.1
9.2 vs 8.7
9.2 vs 8.0
9.2 vs 9.5
9.2 vs 9.4
9.2 vs 9.3
9.2 vs 9.2
9.2 vs 9.0
9.2 vs 8.7
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.5
9.2 vs 8.4
9.2 vs 8.3
9.2 vs 9.0
Where Chip is available
- Available
- United Kingdom
- Licence in United Kingdom
- Financial Conduct Authority (911255), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What interest rate does the Chip Smart Cash ISA pay?+
The Smart Cash ISA pays a headline rate of 4.5% on a variable basis, so the figure moves with the market rather than being fixed for a term. That sits above the lower quartile rate of 3.97% across the cash ISAs in the comparison.
Is it an ISA and can I get my money out quickly?+
It is a isa, and Chip lists the same product under its savings accounts. Withdrawals are on demand and land the next working day, and interest is worked out on the balance every day. There is no fixed term to run out, so money can move in and out as needed.
Does Chip charge a monthly fee?+
There is no monthly charge, since the account runs on a no-fee model and the monthly fee is £0. The highest monthly fee across the cash ISAs in the comparison is €0, so nothing needs paying to keep the account open.
How much do I need to deposit to open the account?+
The minimum deposit is £1, so the account can be opened with a small transfer rather than a lump sum. The upper quartile of minimum deposits across the cash ISAs in the comparison is €810.82, so the opening hurdle here is light.
Is my money protected, and who regulates Chip?+
Deposits are covered by FSCS up to GBP 85,000, and the account is regulated in the United Kingdom by the Financial Conduct Authority under licence 911255. Cash held above the covered amount would fall outside the scheme, so larger balances would need to be spread.
How do I get help if something goes wrong?+
Support runs on email, chat and help centre, so a question can be sent by email, put to the chat team, looked up in the help centre or posted to the community. There is no phone channel among the options, which means queries are written down rather than spoken.
How often is interest paid?+
Interest is worked out on the balance every day and paid once a month, so the credit lands on a predictable point in the month. The rate is variable, which means the annual figure can rise or fall over the year and nothing is locked in for a set period.
How does the rate compare with the other providers listed?+
Chip pays 4.5%. AXI Card Tarjeta y Credito lists 21.59% and Plazo ES lists 24.19%, both higher, while PayPal Colombia lists 3.3%, which is lower. Chip is the pick here for a cash ISA with deposit protection attached.
Who runs the account and where is it based?+
The account is provided by Chip Financial Wealth Ltd, a company based in the United Kingdom, and it is authorised by the Financial Conduct Authority under licence 911255. That licence number is the register entry to check before opening an account or making a first transfer.
Sources
- getchip.uk/pricing checked September 26, 2026
Backs: Deposit protection, Headquarters, Legal entity, Pricing model, Monthly fee, Licences
“Registered office: Sixth Floor, Fora Montacute Yards, 186 Shoreditch High Street, London, E1 6HU”
- getchip.uk/savings-accounts/smart-cash-isa checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Rate type
“You can withdraw as often as you like, and your funds will be with you next working day”
- help.getchip.uk/help-article/what-is-the-minimum-i-can-de... checked September 26, 2026
Backs: Minimum deposit, Support channels
“You can start saving with as little as £1 in your Smart Cash ISA”
Compiled from 3 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term.