I want to use wood chips as a base for a raised bed. wood chips, compost then soil, is this ok?
Anytime you use woodchips you should apply nitrogen as the wood chips will deplete your soil of nitrogen in order to be broken down. Your plants would become chlorotic and show yellowing of foliage and not thrive.
You might consider mixing your garden soil with the compost 50% to produce a loose and loamy soil. Have you checked your drainage for these intended raised beds? Will you need a gravel base? Wood chips are ideal for paths.