• Client funds are held in segregated accounts, separate from the company’s operational funds
  • protection for users’ deposits through the Financial Services Compensation Scheme (FSCS)
  • Chip hit its first profitable month in 2023

Potential Concerns

  • Access to all investments funds is only available on the monthly subscription
  • There is a small fee on the saving plan with auto and recurring saves

What is Chip?

Chip is a financial technology company based in the UK, offering a savings app that leverages artificial intelligence to help users save and invest money effortlessly. By analyzing spending patterns, Chip automatically calculates and sets aside small amounts of money into savings accounts or investment portfolios, aiding financial goals.

Chip App Safe – The Details


Chip is regulated by the Financial Conduct Authority (FCA) in the United Kingdom. This regulatory oversight ensures that Wombat Invest complies with strict standards of conduct and consumer protection regulations.


Chip offers protection for its users’ investments through the Financial Services Compensation Scheme (FSCS), safeguarding eligible investments up to £85,000 per person in the event of insolvency. Chip partners with ClearBank, a UK-based clearing bank. Bottom of Form


Investing carries inherent risks, including the potential for loss of capital. While Chip analyzes spending habits to help users save and invest, market fluctuations and investment performance can impact returns.

Chip provides access to a wide range of investment options. These include:

  • Prize Savings Account, a savings account with a monthly prize draw
  • Various themed funds such as Clean Energy, Crypto and Ethical X funds
  • Cash ISA
  • Stocks & Shares ISA


Chip, was founded in the UK in 2016 by Simon Rabin and Nick Ustinov. The company aims to help users automate their savings and investments through its app.

Security and Personal Data

Chip prioritizes the security and privacy of users’ personal data. Employing robust encryption methods and stringent data protection measures, it ensures the confidentiality and integrity of sensitive information. Chip complies with regulatory standards such as GDPR, instilling confidence in users regarding the security of their personal data and financial information.






Chip records first profitable month


Summary – Is Chip Legit?

Chip is a legitimate financial technology company operating in the United Kingdom. It is regulated by the Financial Conduct Authority (FCA), ensuring compliance with strict regulatory standards and providing assurance of its legitimacy as a financial service provider.