How to Redeem:

If you are referring someone:
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1. Go into the Chip app, click on ‘Profile’ and then on ‘Promos and Referrals’.

‍2. From there, click on ‘Invite a friend to Chip’, and then on ‘Invite friends’ to share your referral link with whoever you want to refer.

‍3. There is no limit on how many people you can successfully refer to Chip.  

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‍If you are being referred:

1. Follow the link you receive to our referral webpage.

‍2. Enter your email address and click ‘Download Chip’.

‍3. Download Chip within 30 days of entering your email address and set up your new account using the same email address. We will apply your referral code for you at this stage.

4. Deposit at least £1,000 into the Chip Instant Access account and then maintain that balance at least 14 consecutive days in the Chip Instant Access account.

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Alternatively, you may:

1. Download Chip and set up your new account.

‍2. Enter the referral code given to you by your friend. You have 14 days to enter the code after downloading the app.

3. Deposit at least £1,000 into the Chip Instant Access account and then maintain that balance at least 14 consecutive days in the Chip Instant Access account.

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Once the referral code has been applied to your account by either of the method above:
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1. Deposit at least £1,000 into the Chip Instant Access account and then maintain that balance for at least 14 consecutive days in the Chip Instant Access account.

‍2. You have 60 days from the date of being referred to meet the referral criteria, including the 14 day holding period of a minimum balance of £1,000, before the referral offer expires.

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If you are referring someone to Chip:

To be eligible for your 90 days of 1% annual equivalent rate (‘AER’) boost on top of your existing Chip Instant Access Account rate reward, the person who has redeemed your code has to have:
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- Successfully signed up to Chip (minimum app version 4.56.0) as a new user;

**A new customer is defined as someone who has never previously held a Chip account**
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- Redeemed the referral code they were given (using the link you shared and signing up using the same email address entered within 30 days, or by entering your referral code in app within 14 days)

- Deposit £1,000 balance (at least) in the Chip Instant Access account and hold this for at least 14 consecutive days.

- They have 60 days from being referred to meet the referral criteria before the referral offer expires.

- They must not already be on a new user promotion.

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If you are being referred:

If you are being referred to Chip, you will be eligible for 1% AER boost on top of the base Chip Instant Access account rate for 90 days. To be eligible for the reward you will have to fulfil these criteria:
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- You must be a new Chip customer.

**A new customer is defined as someone who has never previously held a Chip account**
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- You must not already be on a new user promotion.
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- Redeemed the referral you were given (using the link shared with you and signing up using the same email address entered within 30 days, or by entering referral code shared with you in app within 14 days).
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‍‍- You must hold a Chip Instant Access account balance of at least £1,000 for at least 14 consecutive days.
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‍‍- You have 60 days from being referred to meet the referral criteria before the referral offer expires.
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- You must be on at least version 4.56.0 of the Chip app.

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How will the promotion be applied?

‍‍- The 1% AER boost will be applied on top of the base Chip Instant Access account AER interest rate for 90 days, once the person being referred has met all the above requirements. In the event that the underlying Chip Instant Access account AER interest rate changes, your total rate will also change accordingly.
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- You will start accruing interest at your boosted rate within 1 working day of all criteria being met. The boosted rate will be applied on the balance you hold in the Chip Instant Access account each day.
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- The interest earned from your boosted rate is paid monthly as part of your regular monthly interest payment (4th business day).
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- When your boosted rate expires it will return to the existing Chip Instant Access Account interest rate. 
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- If you refer more than one person successfully, you will be eligible for boosted rates on multiple occasions, depending on how many referrals are successful. You will receive a 1% AER boosted rate across a 90-day period for each customer successfully referred. For example, if you successfully refer 2 people, you will receive a boosted AER rate across 2 separate 90 day periods.
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- If you do not have a Chip Instant Access account open at the time the referral criteria are met, we will not be able to apply the 1% AER boost to your account. The 1% AER boost will be applied once your Chip Instant Access account is open and for 90 days after that.

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General

- Chip reserves the right to modify or terminate the Boosted Rate Promotion at any time. For any user whom the boosted rate promotion has been applied, Chip will provide 14 calendar days notice to modify or terminate the promotion.

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- When we refer to timeframes in the context of promotions or eligibility requirements, “3 months” will always correspond to a period of 90 calendar days. Additionally, “6 months” refers to 180 calendar days, “9 months” refers to 270 calendar days, and “12 months” refers to 365 calendar days. This clarification ensures consistency and accuracy when interpreting the duration of any promotion or boosted rate applied to your account.
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- Once as a new user, you have entered the referral code shared with you, you have 60 days to meet the referral criteria before the referral offer expires. To meet the referral criteria you need to deposit at least £1,000 into the Chip Instant Access account and you must hold a balance of at least £1,000 for at least 14 consecutive days.
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- If your Chip Instant Access account balance falls below the minimum balance at any point during the holding period, then your holding period countdown will start again from 0 once you meet the minimum balance again.
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- Each referral code generated for a Chip user is unique for that Chip user but can be used in relation to different Chip promotions. When you enter the referral Code, you will be eligible for the Chip promotion currently available as use of the referral code is governed by time of activation rather than the reason the code was shared.
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- As a referee, in order for the referral to be applied to your account, you will need to onboard using the same email address you entered on the referral web landing page shared by your referrer and during onboarding.
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- We will redeem your referral code for you if you sign-up to Chip within 60 days of entering your email address on our referrals webpage. If more than 60 days have passed, you must re-enter it prior to downloading Chip or alternatively manually enter your referral code after the sign-up process.

- By participating in our referral program, you acknowledge and agree that we will store your email address prior to sign-up for the purpose of redeeming your referral. If you prefer not to have your email address stored prior to sign-up, please use the alternative method of manually entering the referral code after the sign-up process.

- In the event that one email address is entered to redeem multiple referrals, we will only redeem the most recent referral linked to that email address.

- With all Chip promotion campaigns, you must be over 18 years old and be a resident of the United Kingdom, in order to participate.

- If you were previously given a higher rate due to a referral or promotion, your new boosted rate will start once your previous boosted rate period ends’

- Any Chip promotion is also subject to the eligibility requirements of a Chip account, which can be found in Section 4 of our Terms of Use.

- If Chip has grounds to suspect any entrant or third party of gaming, deception or fraudulent or unreasonable conduct of any kind (including, without limitation, manipulating referral codes) or if Chip believes the promotion is being abused in any way, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.

- If a referral code is shared online on a website or on social media, Chip reserves the right (in its sole discretion) to disqualify any referral code or person it reasonably believes to be responsible for, or associated with, such activity and/or refuse to apply any promotion.

Who are Chip?

Chip is a trading name of Chip Financial Ltd and is authorised by the Financial Conduct Authority under the Payment Services Regulation 2017 for the provision of payment services. Firm Reference Number 911255.

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