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How to Cancel Chip

Cancellation is done through the Chip app without contacting support. You can downgrade to free Chip or permanently close your account. Withdraw your savings before closing, as this action is irreversible.

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Quick Facts

Monthly cost
£3.00/mo
£36.00/year
Cancel online?
Yes
Pause option?
No
Refund policy
No refunds offered. Cancellation stops future charges but unused time is not refunded.
After cancellation
Downgrading keeps your data indefinitely. Closing your account permanently deletes all data within 30 days.

Cancellation Steps

Go directly to Chip cancellation page

  1. Sign in to the Chip app

    Open Chip on your phone and log in with your email and password.

  2. Go to Settings

    Tap your profile icon and select Settings from the menu.

  3. Find your subscription section

    Look for Subscription, Billing, or ChipX in Settings to view your status.

  4. Cancel ChipX or close account

    Tap 'Cancel Subscription' to downgrade to free Chip, or 'Close Account' to delete permanently. Confirm your choice.

Tips & Things to Know

  • Withdraw all savings to your bank account before closing your account permanently.
  • ChipX charges monthly on your renewal date. Cancel before then to avoid the next charge.
  • Downgrade to free Chip instead of closing if you might return - you keep your savings and history.

Your Consumer Rights

  • Consumer Rights Act 2015 gives you the right to cancel within 14 days of purchase for digital subscriptions.
  • Chip is FCA-regulated, protecting your deposits and allowing complaints to the FCA if service fails.

Frequently Asked Questions

Can I cancel ChipX at any time?
Yes. You can cancel without fees or notice. Cancellation takes effect immediately, and you can use the free Chip account afterwards.
Will I get a refund if I cancel ChipX?
No refunds are issued. You won't be charged after cancellation, but unused time in your current cycle is not refunded.
What happens to my savings when I close my account?
Withdraw all funds to your linked bank account first. Once you close, all Chip data is permanently deleted within 30 days.
What's the difference between downgrading and closing?
Downgrading keeps your account, savings, and data. Closing is permanent and deletes everything. Downgrade unless you're certain you won't return.
Is Chip regulated and what are my rights?
Yes, Chip is FCA-regulated. Your savings are protected, and you can file complaints with the FCA if service issues arise.

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