'Chip' is an automated saving app that boasts the ability to connect to one's bank account to analyze spending and transfer money from one's saving account gradually over time. Aside from the automated featured offered by Chip, Millennials are drawn to the idea that they can work towards their financial goals and "save automatically without feeling it."
This saving app helps users to overcome overdraft systems, which often help financial institutions prosper at the expense of customers, and offers up to 5% interest.
With the app, users are also able to determine the amount they would like to save, as well as view the amount of money they've spent so far during the month, as well as how that number compares to spending from the previous month.
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