Is the Chip referral code worth it in 2026? Promo codes, the £1,000 deposit and the £50 bonus
Yes, for anyone with £1,000 they are happy to leave in a savings or investment account for three months. Chip pays £50 for it, the same to both sides, on top of the interest or returns the £1,000 earns, and the money can sit in a tax-free Smart Cash ISA paying 4.56% AER for new customers. It suits UK savers aged 18+ who have never had a Chip account: sign up with code CHIP-TCE575 or through https://honestcodes.co.uk/go/chip.
Key takeaways
- Chip's referral pays the new customer £50, and the friend who referred them £50, after a £1,000 deposit held for 90 consecutive days.
- The code is CHIP-TCE575: applied automatically through https://honestcodes.co.uk/go/chip within 30 days of entering your email, or typed in the app within 14 days of downloading.
- Eligible accounts are the Smart Cash ISA, Instant Access, Prize Savings, General Investment Account and Stocks and Shares ISA; the pension and Easy Access accounts do not count.
- The whole process must finish within 120 days of being referred, and a dip below £1,000 restarts the 90-day count.
- Held in the Smart Cash ISA at 4.56% AER, £1,000 earns about £11 of tax-free interest over 90 days on top of the £50.
| Chip | |
|---|---|
| New customer reward | £50 bonus |
| Referrer reward | £50 bonus, unlimited referrals |
| Code | CHIP-TCE575 |
| Deposit and hold | £1,000 for 90 consecutive days |
| Deadline | 120 days from being referred |
| Paid into | Instant Access or Prize Savings Account |
| Who qualifies | UK residents 18+ who have never held a Chip account |
| Suits | Savers with £1,000 to park for three months |
What the £50 is really worth
Judged as a return, Chip's bonus is generous: £50 on £1,000 over 90 days is 5% in three months, before the deposit earns anything of its own. Few savings accounts pay that in a year. The condition is patience rather than spending: nothing has to be bought, no subscription has to be taken and no card has to be used; the money has to stay put.
Where the £1,000 waits matters too. In the Smart Cash ISA, new customers earn a 4.56% AER variable tracker for the first year (a 3.50% base plus a 1.06% boost), which adds roughly £11 of tax-free interest over the 90 days. In the Prize Savings Account the balance buys monthly prize-draw entries instead. In the two investment accounts the return follows the market, and capital is at risk.
Timing the 90 days so nothing restarts
Chip counts the hold strictly. The balance across eligible accounts has to stay at £1,000 or more for 90 consecutive days, and any dip resets the count to zero once the balance is restored. The window for the whole process is 120 days from the day you are referred, which leaves about a month of margin for a slow start.
The cleanest approach is a single deposit of slightly more than £1,000 in the first week, into the Smart Cash ISA or Instant Access Account, left alone for 13 weeks. Keep an Instant Access or Prize Savings Account open, because that is where the bonus lands.
How Chip compares with other sign-up rewards
Against two other apps HonestCodes verifies, Chip asks for more commitment and pays the biggest fixed cash sum. Monzo pays £10 to a new personal customer for a single card purchase within 30 days; Trading 212 pays free fractional shares worth between £8 and £100 for a £1 deposit within 10 days, with capital at risk. Chip's £50 suits a saver who already has the £1,000; the others suit someone looking for a quicker, smaller reward.
| New customer gets | What it takes | |
|---|---|---|
| Chip | £50 cash | £1,000 held for 90 days |
| Trading 212 | Free shares worth £8 to £100 | £1 deposit within 10 days |
| Monzo | £10 cash (personal) | One card purchase within 30 days |
Chip from its own terms, 1 October 2026; Trading 212 and Monzo from HonestCodes' verified entries.
Frequently asked questions
Is the Chip referral worth it in 2026?
Yes, if you can leave £1,000 in Chip for 90 days: you receive £50 on top of whatever the £1,000 earns. Sign up with code CHIP-TCE575 or through https://honestcodes.co.uk/go/chip.
What is the Chip promo code?
Chip's new-customer reward is claimed with a referral code. The HonestCodes code is CHIP-TCE575, worth £50 after a £1,000 deposit held for 90 days. Chip's new-customer rate boosts, such as 4.56% AER on the Smart Cash ISA, apply automatically.
Which Chip accounts count towards the £1,000?
The Smart Cash ISA, Instant Access Account, Prize Savings Account, General Investment Account and Stocks and Shares ISA, in any combination. The Chip Pension and the Easy Access Account are not on Chip's eligible list.
When is the Chip £50 bonus paid?
After the 90-day hold is complete, into your Instant Access Account, or into your Prize Savings Account if that is the one you hold. Everything must be done within 120 days of being referred.
Can I withdraw the Chip bonus?
Yes. The £50 is paid as cash into a Chip savings account and can be withdrawn to your linked bank account; Chip says withdrawals can take up to five working days to arrive.
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Verified against each brand's own terms · 1 October 2026 · Checked by Behzad Hosseini, Editor-in-Chief