Chip Prize Savings Account: a chance to win £10,000 each month + promo code for extra entries

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Ad with special customer offer in collaboration with Chip.

Popular savings app Chip has recently launched a brand new Prize Savings Account to disrupt the savings market.  Offering prizes of over £10,000 per month to those with at least £100 saved, and almost instant withdrawals, they’ve launched a prize-based saving account that acts as an alternative to traditional premium bonds*.

Read on as we explore exactly how the new Chip Prize Savings Account works and how you can win more than £10,000 each month!

Oh, and we have a Chip promo code LYLIA50 for new users to get 50 extra entries when you deposit £500 in the first prize draw!**

Find out more and how to get your extra entries at https://www.getchip.uk/prize-savings-account/lylia-rose

 

*T&Cs, eligibility criteria and minimum balances apply. For current prize values, entry and eligibility criteria and how to opt-out see the Prize Saving Account’s full terms.

**T&Cs apply. For terms that apply specifically to the promo codes, please read more here.

 

Chip Prize Savings Account a chance to win £10,000 each month + promo code

What is the Chip Prize Savings Account?

With the new Chip Prize Savings Account, you can save up to £85,000. Those who hold a balance of at least £100 in their accounts at the end of the month will be entered into ongoing monthly prize draws for a chance to win over £10,000 in cash prizes!

There will be one Grand Prize of £10,000 every month, as well as 250 smaller prizes of £10.

You can win more than one prize, so you could win even more than £10,000 in a single month.  Amazing!

Every £10 you have saved equals one entry, up to 8500 entries in total. You must hold at least a £100 balance in the Chip prize account to be eligible, giving you at least 10 entries every month.

Chip Prize Savings Account Promo Code

Chip Prize Savings Account Promo Code 50 Extra Entries!

If you are new to Chip then we have a great offer for you.  We have collaborated with Chip to give an extra 50 entries in the first prize draw. 

Simply enter Chip Promo Code LYLIA50 when signing up for the Chip Prize Savings Account and deposit £500 or more.

Find out more at https://www.getchip.uk/prize-savings-account/lylia-rose

Chip Prize Savings Account New Customer Offer

Win cash prizes instead of interest

You won’t earn interest on your savings balance.  Instead, you have a chance of winning a cash prize each month. 

It works in a similar way to traditional premium bond accounts if you’re familiar with those but better!  How?   Deposits in a few taps, an easy-to-use app to track prizes and savings.  Plus, with traditional premium bonds, you sometimes have to wait up to 6 days to withdraw your money, but the Chip Prize Savings Account offers (almost) instant withdrawals.

In Chip’s own words: 

“We’ll run a monthly prize draw and, provided you have at least £100 in your account, you’ll get entries in the draw simply by holding money in the account at the end of the month. The more you deposit, the more entries you have, up to a maximum of 8,500 entries per customer.

It’s free to deposit your money in your account and there are no charges for holding this account with us, or for entering the prize draw, and you can withdraw your money at any time, with your money arriving back in your current account usually almost instantaneously.

Under the bonnet, it’s a non-interest-bearing savings account provided by our partner bank, ClearBank. Eligible funds held in this account are protected by the Financial Services Compensation Scheme (FSCS) subject to the Scheme’s conditions.

For the avoidance of doubt, ClearBank is solely responsible for the provision of the account and has no liability in relation to the prize draw. The prize draw is the sole responsibility of Chip.”

Find out more and how to get extra entries at https://www.getchip.uk/prize-savings-account/lylia-rose

Prize Savings Account

Is the Chip Prize Savings Account worth it?

According to Chip, NS&I’s Premium Bonds are the UK’s biggest savings product and 21 million of us have £118billion in them!

It’s always worth diversifying your savings portfolio, so why not invest some of your savings into this new Chip product for a chance to win even more money each month?

While you can’t earn interest on the new Chip Prize Savings Account, you could win more than £10,000 each month, so absolutely,  it’s worth a shot!

The more you save, the more entries you have, so the Chip account provides a great incentive to save more money.

Even if you don’t have much to save, it’s a great idea to save £100 as this is the amount needed to gain entries into the prize draw each month.  Once you have £100 saved, you will have 10 entries into the prize draw.  You don’t have to save any extra, but every extra £10 you save above the initial £100 will equal one extra entry.  So £200 = 20 entries, £250 = 25 entries and so on.

Your savings will be FSCS protected (up to £85,000) and you can withdraw whenever you like.  If your balance goes below £100 then you won’t be entered into the prize draw, so bear this in mind.

Find out more and how to get extra entries at https://www.getchip.uk/prize-savings-account/lylia-rose

chip prize savings account extra entries promo code

Chip Promo Code: get 50 extra entries for a chance to win £10,000

If you are new to Chip then we have a great offer for you.  We have collaborated with Chip to give an extra 50 entries in the first prize draw. 

Simply enter Chip Promo Code LYLIA50 when signing up for the Chip Prize Savings Account and deposit £500 or more.

Find out more and how to get extra entries at https://www.getchip.uk/prize-savings-account/lylia-rose

chip promo code

A roundup of how the Chip Prize Savings Account works

  • Non-traditional savings account with a monthly prize draw instead of interest

  • Over £10,000 of prizes are awarded every month until further notice

  • One Grand Prize of £10,000 every month, plus 250 smaller prizes of £10

  • You can win more than once per prize draw

  • Free to enter, you just need to hold a balance of at least £100 to be in the draw every month.

  • Once you have £100 in your account, you will have 10 entries and every extra £10 = 1 entry. 

  • The more you deposit over £100, the more entries you have. However, if you withdraw funds from the account before the end of a Qualifying Period for a Competition, the number of your entries will be adjusted accordingly.

  • FSCS protected up to £85,000 subject to the Scheme’s conditions.

  • Deposit up to a maximum of £85,000

  • Deposit from £1 (but you need to hold a balance of at least £100 to be in the draw)

  • Easy access (withdraw anytime) with near instant withdrawals.

  • You can save into this account using the Chip savings tools

  • When Prizes are awarded they will be visible in the Chip app but Prizes do not count towards entries in future Competitions Prizes are not covered by FSCS.  Prizes are only accessible as cash once all your other cash is withdrawn from the Prize Savings Account

  • Entries will be counted and included in the draw at the end of a calendar month, and the draw will take place in the first week of the following month (no later than 5 working days after the end of a calendar month). For example, if you have a £1,000 balance in the Prize Savings Account on 30 September 2022, you will have 100 entries in the prize draw that takes place between 3-7 October 2022.

  • The winners are picked using randomisation functionality through open-source software based on the number of entries that month.

  • New users can enter Chip promo code LYLIA50 for 50 extra entries in the first prize draw if depositing £500 or more.

  • Find out more and how to get extra entries at https://www.getchip.uk/prize-savings-account/lylia-rose

 Chip Prize Savings Account a chance to win £10,000 each month + promo code