Products and features
Chip hits £3 billion in total deposits
A huge milestone for our community. We explore how our user base has grown and what this level of liquidity means for the future features we can build for you.
A huge milestone for our community. We explore how our user base has grown and what this level of liquidity means for the future features we can build for you.
It feels like only yesterday we were celebrating the £1 billion mark. Reaching £3 billion so quickly isn’t just a milestone for us as a company; it’s a sign that the UK’s attitude toward wealth is shifting.
People are no longer content to let their money sit idle in high-street accounts earning next to nothing. You are voting with your feet (and your funds), moving to a place where your money actually works harder.
Why this matters
You might be thinking, "Great number, but what does that mean for me?"
In the world of savings and fintech, volume is leverage. When we negotiate with our partner banks, being able to bring £3 billion worth of deposits to the table allows us to demand better interest rates.
Simply put: The bigger we get, the better the rates we can fight for on your behalf.
"This isn't just a vanity metric. It proves that people are waking up to the fact that they deserve better returns on their hard-earned cash."
A word from our CEO
Simon Rabin, CEO and Founder of Chip, had this to say about the achievement:
"When we started Chip, the goal was simple: to build the best savings account in the world. Hitting £3 billion in deposits proves that we are solving a real problem. The high street banks have been complacent for too long.
"This growth allows us to double down on our product roadmap. We are reinvesting this momentum into building more frictionless ways for you to invest, auto-save, and track your net worth. We are just getting started."
What’s next?
We aren’t slowing down. With this milestone secured, our focus for the next quarter shifts to:
Faster Movements: Improving the speed of deposits and withdrawals.
New Asset Classes: Expanding our investment platform to offer more choice.
More Transparency: Giving you even deeper insights into how your wealth is performing.
Thank you to everyone who has trusted us with their savings so far. Whether you have £10 or £100,000 with us, you are part of this journey.
Onwards to £5 billion. 🚀
For press enquiries hit us up at media@getchip.uk, if you’re looking for a brand press pack download it here.
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