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Smart Cash ISA
1Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
The Smart Cash ISA is Chip’s brand new flexible ISA
Designed to give you clarity, confidence, and easy access to your money. Save up to £20,000 this tax year, with interest earned completely tax-free1.
Life changes, and your ISA should support that. That’s why the Smart Cash ISA gives you full flexibility, unlimited access, with the same tax-free benefits you expect.
Behind the scenes, your money is held with licensed UK banks like Barclays, Lloyds, and HSBC (see all here), which allows us to bring you a great rate. Clear protection. Clear terms. No surprises.
1Chip does not provide tax advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
To be eligible for the Boosted Cash ISA Promotional Rate you must be a new Chip customer. A new customer is defined as someone who has never previously transacted in a Chip account and has no other promotional rates applied on any Chip products.
Built for the future you’re planning
No tricks, no gimmicks, no unexpected rate drops; just one simple rate you can trust for the long-term, while you get on with more important things.
Chip is designed to grow your wealth
Earn rewards for building your balance
We’re here for you, seven days a week
What is a Cash ISA?
A Cash ISA is a UK savings account that lets you earn interest without paying tax on it. You can save up to £20,000 this tax year.
Tax-free interest
Any interest you earn is completely free from UK income tax. This means more of your money stays yours, helping your savings grow more efficiently over time.
Safe and Secure
Your money isn’t invested, making it a low-risk way to grow your savings steadily without worrying about tax. Eligible deposits in a Cash ISA are also FSCS protected up to £120,000 per person, per institution.
Better rates, same protection
Trusted by over 400,000 people.
FSCS protected up to £120,000
Money deposited into the Smart Cash ISA is held across established UK licensed banks, such as Barclays, Lloyds and HSBC and is eligible for cover by the Financial Services Compensation Scheme (FSCS), subject to FSCS conditions.
FSCS limits of £120,000 per person, per bank apply, subject to eligibility. As funds may be held across multiple UK licensed banks, protection applies separately to deposits held with each bank.
Protect yourself with biometrics
Protection for your mobile device with biometric login. As an additional security layer all Chip users need to create a 6-digit PIN to access their app.
Bank-level encryption
Every connection to Chip is secured with bank-grade encryption and built on Open Banking technology – the regulated standard for seamlessly linking accounts.
We’ve got your back
Our systems continuously monitor for suspicious activity, helping keep your account protected from fraudsters.
Help when you need it
Our UK-based customer support team is just a message away, ready to help whenever you need it.
Saving terms explained
Make sure you understand all the key saving terms when it comes to comparing and understanding how each of our savings accounts works.
AER (Annual Equivalent Rate)
The AER is the true rate of interest you'll earn on your savings over a year, taking into account how often the interest is paid and added to your balance (compounded).
It gives you a standardized way to compare different accounts, regardless of their specific interest payment schedule. A higher AER means your money will grow faster over the year.
Gross p.a (Gross per annum)
The Gross p.a rate is the headline interest rate paid on your savings before any income tax has been deducted from the earnings.
It represents the simple, stated rate of return on your money. The term 'per annum' (p.a.) confirms the rate is calculated annually, or over a period of one year.
Tax-free
A tax‑free savings account allows you to earn interest without paying UK income tax on it.
This means all the interest generated within the account is yours to keep, regardless of your Personal Savings Allowance. Tax‑free status applies to specific products such as ISAs, helping your savings grow more efficiently.
ISA (Individual Savings Account)
An ISA is a UK savings and investment wrapper that protects the interest, profits, and dividends you earn from income tax. You don’t pay tax on any returns generated within an ISA.
There is a maximum limit, or allowance, on the total amount you can contribute to all your ISAs each tax year.
FAQs
See our Smart Cash ISA frequently asked questions below. Find all our up to date terms here.
The Smart Cash ISA is Chip’s own flexible Cash ISA. It allows you to save up to £20,000 per tax year and earn interest completely tax-free, subject to ISA rules1.
Please note: Cash ISA limits are changing from April 2027 for under 65's.
It’s designed to be simple: one variable tracker rate, easy access, and full flexibility.
1Chip does not provide tax advice or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
The rate tracks the Bank of England base rate and may change over time. If the Bank of England base rate changes, your rate may also change. Your interest rate will always be clearly displayed in the app.
Yes. The Smart Cash ISA is fully flexible. This means you can withdraw money and redeposit it within the same tax year without affecting your £20,000 annual ISA allowance, subject to ISA rules1.
1Chip does not provide tax advice or financial advice. Tax treatment depends on individual circumstances and may be subject to change in the future.
Yes. You can make unlimited withdrawals whenever you need to. Funds are with you next working day.
Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS).
FSCS limits of £120,000 per person, per bank apply, subject to eligibility. As funds may be held across multiple UK licensed banks, protection applies separately to deposits held with each bank.
Your savings are held across a range of UK licensed banks, These include Barclays, Lloyds, Virgin Money, HSBC, Santander, National Bank of Kuwait (International) and Qatar National Bank (Q.P.S.C). These are subject to change.
All banks we work with are fully licensed to operate in the UK, and enjoy full FSCS protection up to £120,000.
Interest accrues daily and is paid monthly on the 10th working day of each month.
Please note: If you transfer out or close the Smart Cash ISA you will forfeit any unpaid interest owed per the terms of the account.
You can open and manage your Smart Cash ISA directly in the Chip app. Everything is handled digitally, with in-app support if you need help.
Still have questions?
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