Chip alternatives: when another savings app suits you better

Chip alternatives at a glance

This table puts Chip next to the providers we track, using each one’s own published figures, checked on 16 October 2026. Rates are variable unless stated, and every boosted rate is shown with the rate it falls to afterwards.

The rest of this page works by situation, because the right alternative depends on why Chip is not right for you. For a broader ranking, see our best savings apps comparison, linked at the foot of this page.

You have had Chip before and want a sign-up offer

Chip’s £50 bonus is only for people who have never held a Chip account before, so former customers should look elsewhere for an offer. Chase is the clearest alternative right now.

Chase’s referral offer is £50 each when your friend deposits £1,000 within 30 days. Referee must not have applied to Chase before 3 December 2025 and must enter the code within 30 days. Up to 5 codes per referrer; Chase can end the offer at any time. Full terms are on Chase’s refer a friend terms. You need a Chase current account to open the saver.

Other providers run offers that change more often:

• Plum: Referral campaigns run in the app; no fixed public amount. Terms section 3.8: amounts and criteria change by campaign. Referees must be 18+ and new to Plum (see Plum’s terms).
• Monzo: Refer a friend bonus; amount not published. Friend applies within 30 days of the invite and makes a first card payment within 30 days.
• Moneybox: No public referral offer; promotions shown in the app (see its promotional terms).
• Trading 212: its referral offer is for its investment accounts, not cash savings, so it falls outside what this site covers.

We keep a current list on our savings app offers page. If you are not sure whether a past Chip sign-up rules you out, the Chip bonus checker will tell you in five questions.

You want a higher Cash ISA rate

The headline Cash ISA rates are close, so the rate after the bonus and the conditions decide it. Chip’s Smart Cash ISA pays 4.68% AER (variable tracker) for 12 months, then 3.50% AER. It is flexible, with unlimited withdrawals.

• Plum pays 4.73% AER variable for 12 months, then 2.54%. Includes a 2.19% bonus if kept 12 months and other conditions are met. Transfer-in rate 3.75%. Flexible ISA, from £1. Rate from 16 October 2026. Plum’s FAQ adds that the bonus may be lost after your fourth withdrawal or if the balance drops below £100. See Plum’s Cash ISA page.
• Moneybox pays 4.72% AER variable for 12 months, then 3.45%. Includes a 1.27% bonus for 12 months. £500 minimum; fewer than four withdrawals a year. New customer rate as of 16 October 2026. See Moneybox’s Cash ISA page.
• Trading 212 pays 3.6% AER variable, flexible, with no time-limited bonus. Earned daily. £1 minimum deposit and withdrawal; no deposit or withdrawal fees. See its Cash ISA terms.
• Monzo pays Instant Access Cash ISA 2.75% to 3.50% AER variable, by plan on its Instant Access Cash ISA, so the top rate needs a paid plan. See Monzo’s Cash ISA page.

How they compare with Chip: for the first year, Plum’s headline is higher than Chip’s and Moneybox’s is higher than Chip’s, but both come with conditions that Chip does not have. After the bonus, Plum’s rate is lower than Chip’s standard rate and Moneybox’s is lower than it. Trading 212’s flat rate is higher than Chip’s standard rate, with no bonus to lose.

Our best Cash ISA apps page compares these in more depth, and introductory bonus rates explained covers what happens when a boost ends.

You want a better rate once the boost ends

Chip’s headline rates include a new-customer boost for 12 months. Some rivals pay more once that ends, with catches of their own. Chip’s Instant Access falls to 3.00% AER, and the Easy Access Saver to 3.50% AER.

• Trading 212 pays 3.8% AER variable on uninvested GBP cash, higher than Chip’s standard Instant Access rate. The catch, in Trading 212’s own terms: Interest on cash in an investment account, not a savings account. Paid daily, no minimum or maximum, withdraw any time. Money placed in a QMMF is treated as an investment, not a bank deposit, and does not get deposit protection. That is a real difference from a bank savings account. See Trading 212’s interest page.
• Plum pays 3.05% to 3.65% AER variable, by plan. The best Easy Access rate needs Plum Max at £14.99 a month; on small balances the fee outweighs the extra interest. Plum's own pages disagree on the Max price: one FAQ says £11.99, the subscriptions page says £14.99. See Plum’s easy access page.
• Moneybox pays Simple Saver 2.40% AER variable, or 3.40% with reward rate. Reward rate needs a balance in a qualifying Moneybox account (e.g. Cash ISA, S&S ISA, LISA, pension). Up to £120,000. The Simple Saver allows only one withdrawal a calendar month, so it is not true instant access. See the Simple Saver page.

Our Chip vs Trading 212 comparison looks at the protection difference in detail.

You want a bank, not an app

If you would rather your savings sat with the bank you already use, Monzo and Chase are the obvious choices. Your money is held by the bank itself, so there is no partner bank to check.

Monzo pays 2.75% to 3.50% AER variable, by plan on its Instant Access Pot. The best instant access rate needs Monzo Max from £19 a month. A Monzo current account is required to open Savings Pots. It is hard to beat for convenience if Monzo is already your main account: savings and spending sit in one app, and moving money between them is instant. See Monzo’s savings page.

Chase pays 2.25% AER variable; 4.5% for new customers with the boost. The boost: 2.25% AER boost for 12 months; open within your first 31 days. Chase’s pages are not fully clear on who gets it. For new customers joining from 29 December 2025. Offer may be withdrawn at any time. Boost terms say eligible customers are contacted. So check you will receive it before relying on it. Chase does not offer a Cash ISA. See Chase’s boosted saver page.

We compare both in detail: Chip vs Monzo savings and Chip vs Chase Saver.

You want prizes with government backing

Premium Bonds are the alternative to Chip Prize Savings if you want prizes backed by HM Treasury. Not FSCS: 100% backed by HM Treasury. NS&I secures 100% of savings, including above £120,000.

Premium Bonds have a 4.35% prize fund rate, variable; odds 21,000 to 1 per £1 Bond. From the September draw. Monthly tax-free prizes £25 to £1 million. £25 minimum, £50,000 maximum holding. Bonds wait a whole month before their first draw. Premium Bonds pay no interest; most holders win less than the prize fund rate. See NS&I’s Premium Bonds page.

Chip’s Prize Savings Account offers £100,000 a month in prizes and claims 3.5x better odds than Premium Bonds (Chip's own claim), based on odds of winning any prize per £10 held in September 2025. That is about the odds of a prize of any size, not a large one. And on Chip, prizes are added as a bonus and become cash only when you withdraw your whole Prize Savings balance. Our Chip Prize Savings vs Premium Bonds comparison goes through the differences.

You want round-ups

Chip’s pricing lists autosave and recurring deposits rather than round-ups. Its autosave decides amounts from your whole account, and costs 45p per autosave on the free plan. If you prefer saving the spare change from card payments:

• Monzo: Free round-ups into a Savings Pot, for Monzo customers. 1p Saving Challenge pays 5% AER variable on paid plans (0% on free).
• Chase: Free round-ups to the nearest £1 at 5% AER variable. Round-up account takes only debit card round-ups; one per customer. See Chase round-ups.
• Plum: Round-ups, Pay Days, Weekly Depositor and AI Auto Saver. Rainy Days, 52-Week Challenge, 1p Challenge and Naughty Rule need a paid subscription. See Plum’s automations.
• Moneybox: Round-ups and Payday boost. Round-ups save or invest the change from everyday spending.

Our Chip autosave guide explains how Chip’s approach differs and how to keep the fees down.

You want a fixed rate

Chip’s savings accounts are all variable trackers, so their rates move with Bank Rate. For a fixed rate, look elsewhere.

Among the apps we track, Monzo offers a Fixed Rate Cash ISA Pot at 4.70% AER fixed for 1 year. Monzo also has a Select Access ISA paying up to 3.65% with 2 or fewer withdrawals a year and £500 minimum. A fixed rate gives certainty if you expect rates to fall, but you usually cannot get your money out until the term ends, so keep an easy-access pot alongside it. See Monzo’s Cash ISA page for the terms.

When Chip is still the answer

Chip makes most sense if you want a competitive variable rate without paying a subscription, a flexible Cash ISA with no withdrawal conditions, and an app that sits on top of whichever bank you already use. Its main weaknesses are the per-save autosave fee on the free plan, the boost ending after 12 months, and the shared £120,000 limit at ClearBank.

If Chip does fit, the Chip referral code page explains the £50 bonus. You must never have held a Chip account, the Easy Access Saver does not count, and £1,000 must stay in an eligible account for 90 days in a row; if it dips below, the countdown restarts.