Chip referral code CHIP-XUD314: £50 bonus (October 2026)

What is the Chip referral code?

It is CHIP-XUD314. Use our link and the code is applied for you, or type it into the Chip app yourself. Either way, the deal is the same: £50 for you and £50 for the person who referred you, once you have deposited £1,000 or more into an eligible account and kept at least that much there for 90 days in a row.

The bonus is only for people who have never held a Chip account before. The money has to go into the Smart Cash ISA, the Instant Access Account or the Prize Savings Account. The Easy Access Saver does not count, which is the single biggest reason people miss out, so it gets its own section below. And the whole thing, hold period included, has to be done within 120 days of being referred.

If you want a quick yes or no before you start, our five-question Chip bonus checker walks through each condition and flags the ones that usually trip people up.

Chip promo code, invite code or bonus code?

They are the same thing. Whether you search for a Chip promo code, an invite code, a bonus code, a voucher code or a sign-up bonus, the new customer offer Chip publishes is its refer-a-friend scheme, and the code it asks for is a referral code like ours, CHIP-XUD314. Our link opens Chip’s own “get your boost” page with the code already filled in.

We have not found a separate welcome code on Chip’s site to stack on top. Its referral terms describe one bonus, £50 for each side, and they say that if one email address is used for more than one referral, only the most recent one counts. So pick one code, and use it with the same email you sign up with.

This month’s Chip referral offer

Current offer runs 1 October to 31 October 2026. Chip’s refer-a-friend terms are published with fixed start and end dates, and so far Chip has reissued them with new dates as each one ends. That is why you will see the offer described by month on this page and elsewhere. The October 2026 version is the £50 each side deal described here.

The date that matters for you is the day you are referred, which is when you enter your email on the referral page or type the code in the app. If you are referred between 1 October to 31 October 2026, the terms for that period apply to you, and your 120 days clock starts from that day. You do not need to finish within the calendar month.

When Chip reissues the offer, it can change the amount or the conditions, and its terms say plainly that Chip can change or end the offer at any time. We check Chip’s legal page every day and update this page when new dates appear. If the conditions themselves change, we read the new terms before this page says anything about them. If the dates above look out of date, the app shows the current terms when you go to enter a code.

Should you use the link or the code?

Use the link if you can. It applies the code for you, so there is nothing to remember. Use the code if you are reading this on one device and signing up on another.

With the link, you open it on your phone and enter your email on Chip’s referral page. Chip’s terms then give you 30 days to download the app, and you need to sign up with the same email address you entered on that page. That email is what ties your new account to the referral. A different email, even one you also own, will not match.

With the code, you download Chip, sign up as normal and type CHIP-XUD314 into the app. You have 14 days after downloading to do that. It is a reasonable fallback if you have already downloaded the app without a link, as long as you are still inside that 14 days. Chip’s terms also mention needing app version 4.56.0 or later, so update the app first if it has been sitting on your phone for a while.

Our step-by-step guide to signing up to Chip covers both routes screen by screen, including what Chip asks for when it checks your identity.

Which Chip accounts count for the £50?

Three savings accounts count: the Smart Cash ISA, the Instant Access Account or the Prize Savings Account. The Easy Access Saver and the Chip Pension do not. You can split the £1,000 across eligible accounts if you like; Chip counts the combined balance.

Rates are variable. New-customer boosts last 12 months, then the standard rate applies.

Chip’s terms also list its investment accounts as eligible: the General Investment Account and the Stocks and Shares ISA. The Chip Pension is excluded by name. This site covers savings only, so we do not review or recommend Chip’s investment accounts, and everything on this page assumes you are using a savings account. With investments, your capital is at risk.

For more detail on each account’s rate, how the boost works and what happens after it ends, see our page on every Chip interest rate.

Why is Easy Access the trap?

Because it pays more than Instant Access and does not count. That is a combination built to catch people out.

Right now the Easy Access Saver pays 3.81% AER for 12 months, then 3.50% AER. Instant Access pays 3.51% AER for 12 months, then 3.00% AER. If you open the app looking for the best easy-access rate, Easy Access is the one that stands out, and it is perfectly natural to drop your £1,000 there. But Easy Access is simply missing from Chip’s list of eligible accounts. Money in it does not move the 90 days countdown at all, however long it stays.

The other difference is withdrawals. Easy Access gives you 3 penalty-free withdrawals in each 12 months; from the 4th the rate drops by 2.10% AER. Instant Access gives you unlimited withdrawals with no penalty. For a bonus that depends on not touching your balance, that difference matters less than you might think, but it is worth knowing if you plan to keep the money with Chip afterwards.

The simple rule: put the £1,000 in the Smart Cash ISA, Instant Access or Prize Savings first, and only move money into Easy Access after the £50 has landed, if its rate suits you. We go through the trade-off in full in Chip Instant Access vs Easy Access.

How does the 90-day hold work?

You must keep at least £1,000 in eligible accounts for 90 days in a row. In Chip’s words, if your balance drops below £1,000 at any point, the 90-day countdown starts again from zero. It is not an average, and there is no grace period for a short dip.

Here is how that plays out. Say you are referred and deposit £1,000 into Instant Access on day 1. On day 40 something comes up and you withdraw £200, leaving £800. You put the £200 back on day 45.

The 39 days before the withdrawal count for nothing. The countdown restarts on day 45, so the 90 days would not be complete until around day 135. That is past the 120 days limit, so in this example the bonus is lost, not just delayed.

Two ways to avoid this. First, deposit a cushion: put in a bit more than £1,000 so that an accidental withdrawal or a fee does not take you under. Second, if you use autosave or round-ups, remember they only ever add money; the risk is you taking money out. If you think you might need the cash in the next three months, wait until you do not before you start.

What is the 120-day window?

You have 120 days from the day you are referred to meet every condition, and that includes the 90 days hold. Chip’s terms put it as 120 days “from the date of being referred to meet the referral criteria, including the 90 calendar day holding period”.

In practice this means you need to start your 90 days hold by roughly day 30 after being referred. Signing up, passing Chip’s identity check and making your first deposit all eat into that. The safest approach is to deposit the full £1,000 as soon as your account is open, ideally the same day, rather than building up to it with autosave. Autosave is a fine habit, but it is a slow way to reach £1,000 against a deadline.

When and where does the £50 land?

Chip adds the £50 once all the conditions are met, so at the earliest a little over 90 days after your first qualifying deposit. It is paid into your Chip Instant Access Account (or Prize Savings Account if you do not have one).

A few things about the bonus that are easy to miss:

• It does not earn interest. Chip’s terms say the bonus itself does not earn interest, even when it sits in Instant Access alongside money that does.
• Withdrawing it can take longer. Chip says bonus payments can take up to 5 working days to reach your linked bank account when you withdraw, which is slower than an ordinary withdrawal.
• It is not FSCS protected. Chip’s Group Terms say bonuses are not FSCS protected. Your own eligible deposits are protected; the bonus credit is not.
• It is at Chip’s discretion. The Group Terms say “The payment of all Bonuses is at Chip's sole discretion.” Meeting the conditions is what gets it paid, but no bonus is promised.

Once the £50 has landed and your 90 days are up, the money is yours to move. You can keep it with Chip, move it to Easy Access, or withdraw it.

What is the best way to get the Chip £50?

For most people: put £1,000 into the Smart Cash ISA if you have ISA allowance to spare this tax year, or into Instant Access if you do not. Both count, both let you get at your money, and both pay interest while you wait.

If you have ISA allowance left: the Smart Cash ISA

The Smart Cash ISA pays 4.68% AER for 12 months, then 3.50% AER, the highest of Chip’s savings rates, and the interest is tax-free. It is a flexible ISA, so you can withdraw and put money back in the same tax year without using up more of your £20,000 allowance. The catch is that it uses ISA allowance, and transferring out or closing forfeits any unpaid interest. Our Chip Smart Cash ISA guide covers the details.

If your ISA allowance is used: Instant Access

Instant Access pays 3.51% AER for 12 months, then 3.00% AER with unlimited withdrawals with no penalty. The interest is taxable, but most people’s savings interest sits inside their Personal Savings Allowance: £1,000 a year for basic-rate taxpayers and £500 for higher-rate taxpayers, according to GOV.UK. Instant Access is also where the £50 is paid, so having it open keeps things simple.

Prize Savings: counts, but pays no interest

Prize Savings counts for the bonus, but it pays no interest. Your £1,000 would sit there for 90 days earning only prize-draw entries. If you like the idea of prizes, read our page on how Chip Prize Savings works first. For most people chasing the bonus, an interest-paying account is the better home.

What is the Chip referral worth in year one?

On a £1,000 deposit left in place for a year, roughly £96.80 in the Smart Cash ISA or £85.10 in Instant Access, counting the £50 and the boosted interest together.

These figures use the AER, which already allows for interest being added during the year, and assume rates stay where they are. They will not: Chip’s rates are variable trackers below Bank Rate, so they move when the Bank of England moves. The boost also ends after 12 months, which is why the last row shows the standard rate. Our guide to introductory bonus rates explains why it is worth putting a reminder in your calendar for that date.

Put another way, on £1,000 the £50 is worth more than a full year of interest at either rate. That is what makes the referral worthwhile on a modest balance. On a much larger balance, the rate matters more than the bonus, and you should compare Chip with other providers on rate alone.

Who does not qualify, and what to do instead

You will not get the £50 if any of these apply:

• You have held a Chip account before. Any Chip account, at any time, even if it is closed. Neither side is paid.
• You cannot leave £1,000 untouched for 90 days. If you might need the money, a dip resets the count and the 120 days limit will probably run out.
• You only want the Easy Access Saver. It does not count, so you would need to use another account for the first 90 days.
• You missed the window for the code. If you downloaded Chip more than 14 days ago without a referral, it is too late to add one.

If that is you, Chip may still be worth having for its rates, just without the bonus. If you were mainly after a sign-up reward, our roundup of current savings app offers lists what other providers are running this month. And if Chip does not fit the way you save at all, our Chip alternatives page covers when another app suits you better.

What if the £50 does not arrive?

Work through the conditions first, then contact Chip through the in-app chat. Most missing bonuses come down to one condition that was not quite met.

1. Has it been long enough? The £50 comes after 90 days in a row at £1,000 or more. Count from the day your balance last reached £1,000, not from the day you signed up.
2. Did your balance ever dip? Check your transaction history for any withdrawal that took eligible accounts below £1,000, even for a day.
3. Was the money in an eligible account? Money in Easy Access does not count, even if it was there the whole time.
4. Did the referral attach? If you used the link, did you sign up with the same email you entered on the referral page? If you typed the code, was it within 14 days of downloading?
5. Was it all inside 120 days? The hold must finish within 120 days of being referred.
6. Had you ever held a Chip account? If so, the referral will not pay.

If everything checks out, message Chip support in the app with the date you were referred, the code or link you used, the date you deposited and which account the money is in. Be patient: in our experience in-app support can be slow to reply (more on that below), so do not expect an instant answer, and keep your balance where it is while you wait.

From my account

If you join through our link or code and qualify, Chip pays you £50 and pays this site £50. That is the only money this site makes, and it is why the conditions above are spelled out in full: a bonus that does not pay is no good to either of us. For the full picture of what Chip is like to use, read our Chip review.