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ClearBank is also responsible for the provision of the Chip Instant Access Account. ClearBank is responsible for only the provision of the account and holding your funds which are FSCS protected (subject to eligibility). The PSA and prize draws are offered and managed by Chip. You acknowledge that if you opt out, you will no longer be eligible for entry into prize draws. You can opt out of any or all prize draws at any time by contacting our Customer Success team via our in-app chat, or emailing support on If you have opted out, you can opt back in at any time via the same channels.

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For current prize values, entry and eligibility criteria and how to opt-out see: getchip.uk/legal/prize-savings-account-terms. Prizes are not eligible for FSCS protection. Prizes become cash once you withdraw your entire PSA balance into your linked bank account. Prizes are not cash and are applied to your PSA as a bonus. FSCS limits of £85,000 apply to eligible deposits. T&Cs, eligibility criteria and minimum average balance of £100 applies. Further information is available from the FSCS website (). It’s important to understand that the FSCS doesn’t cover you in the event that your investments go down and you get back less than what you put in.

This means that in the event P1 Investment Services Limited is declared to be in default and cannot meet their obligations, you may be able to claim compensation. Your money may be protected up to £85,000 by the Financial Services Compensation Scheme (“FSCS”) under their Investment Scheme. Chip does not provide investment advice, and you as an individual investor should make your own decisions or seek professional independent advice. Past performance is not a reliable indicator of future performance. When investing your capital is at risk, and the value of your investments can go up as well as down and you may receive less than your original investment. For our Investment Platform business only Chip is an Appointed Representative of P1 Investment Services Limited, which is authorised and regulated by the Financial Conduct Authority, under Firm Reference Number 752005.