Earn £20 Free with a New Chip Savings Account – Just Deposit £1!

Earn £20 for setting up a new Chip Instant Access savings account, and it's really easy!

The savings app Chip is currently offering a brilliant £20 bonus for new users, and all you need to do is deposit £1 into a new Instant Access savings account. It’s quick, easy, and there’s no catch.

Here’s how it works: open a Chip account using our referral link (or by entering the code CHIP-DLY260 in the app), and deposit at least £1 into your new Instant Access savings account. Keep the £1 in there for 30 consecutive days, and once that time’s up, Chip will credit your account with £20. You’re then free to withdraw the £21, or keep saving and take advantage of their current interest rate of 3.24% AER.

You must be a new Chip customer to qualify, and you can claim the bonus only once. But once your account is live, you can refer your friends and family to earn an extra £20 for each person who signs up and completes the same process.

Chip isn’t a bank, but your money is held securely by ClearBank, a fully FCA-regulated UK bank. This means your savings are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000, just like they would be with a high street bank. With over 500,000 users, Chip is a safe and savvy way to build your savings, separate side hustle income, or simply pocket a quick bonus. Chip has a 4.4 positive score on Trustpilot.

To get started, click our Chip referral link or enter the code CHIP-DLY260 in the promo code box on the app's front page after downloading it. For full terms and FAQs, click here.

The Penny Pincher is reader-supported. If you sign up through the links or referral codes in this post, we may earn a commission or referral fee, at no extra cost to you. It helps keep our content free and supports what we do.