Chip launches premium plan

By Daniel Lanyon on Tuesday 29 June 2021

Savings and Investment

ChipX is the firm's second paid-for plan.

Chip launches premium plan
Image source: Chip/Simon Rabin

AI-powered savings app Chip has launched a premium plan featuring a larger range of investment funds provided by asset management giant BlackRock.

The premium plan, which costs £3 every four weeks alongside a 0.25 per cent platform fee, is called ChipX. 

Two years in the making, it offers access to 10 different funds provided by BlackRock, including actively managed, ethical and thematic funds, as well as a Stocks & Shares ISA. 

It’s the third membership layer after the firm's basic free account and entry level paid-for-plan which costs £1.5 every four weeks. 

Simon Rabin, CEO of Chip, said: “Cash savings are dead, interest rates are down, and who actually knows what is going on with bitcoin. Which is why we’re bringing our users a range of investment funds from BlackRock, so that they can put their money to work without the hassle of checking the stock market every day. We set out to build the simplest-to-use investment platform in the world in order to get everyone investing, and I think it’s safe to say we’ve already done a lot to make this a reality.”

"We have set ourselves a hefty goal of democratising savings and investments, and while there’s still a long way to go, I believe that milestone launches like ChipX are what propels us along the right trajectory and gets us ever closer to that goal.”

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