Chime

Chime

 3.7/5 (862 ratings)
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Written by Sarah Barbour
Edited by Jon Bortin

About Chime

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Chime is a financial technology company that aims to provide helpful and easy-to-use online banking services. You can open a checking account, a savings account with a 0.5% annual percentage yield and a secured credit card that helps increase your credit score. Chime charges no monthly fees and no overdraft fees. U.S. citizens and permanent residents who are at least 18 can apply on Chime’s website or using its app.

Overall Satisfaction Rating

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Pros

  • 0.5% APY on savings account
  • No-fee overdraft protection up to $200
  • Secured credit card with no fees
  • Over 60,000 fee-free ATMs

Cons

  • Some services require direct deposit
  • No joint accounts or secondary cards

Bottom Line

Chime is a mobile banking fintech company offering checking and savings accounts, along with a secured credit card. There are almost no fees. Some services are available only to members who use direct deposit.

Top Chime Reviews

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Rated with 5 stars
Verified

Getting a Chime card and account was the best idea I’ve had in years. No overdraft fees, no surprises and the app is amazing!! Big banks scam is but chime is not one of them. I ca...

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Rated with 5 stars
Verified

I have had an active Chime checking account for about 14 months now. All of my deposits, transfers, withdrawals have gone absolutely smooth. The Spot Me feature is amazing if you ...

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What is Chime?

Chime is a fintech company partnering with two banks to offer “member-first” banking services online to members in all 50 states. It offers a checking account with a Visa debit card, a savings account with a 0.5% APY and a secured credit card that helps build credit. Other benefits include fee-free overdraft protection, early direct deposit and over 60,000 no-fee ATMs. There are no monthly fees or minimum balances.

Chime is based in San Francisco and has offices in Chicago and Vancouver, British Columbia. Members can reach customer service by phone seven days a week.

How does Chime work?

Chime is not a bank; it’s a fintech company that partners with two banks: The Bancorp Bank and Stride Bank. It's online only, with no physical banking locations. Members can log in to their accounts on Chime’s website or using the app. There are no fees to set up and maintain a Chime checking account, savings account or secured credit card.

To be eligible to sign up with Chime, you need to be at least 18 and a citizen or permanent resident of the U.S. with a valid Social Security number. Once you open an account, you get a Visa debit card. You also have the option to open a savings account and apply for a Credit Builder secured credit card. Chime also lets you:

  • Set up direct deposit and get access to the funds up to two days early
  • Send (including paper checks) and receive money without fees
  • Withdraw cash without a fee from any MoneyPass ATM
  • Deposit checks with mobile deposit
  • Get fee-free overdrafts up to $200
  • Get balance notifications and instant transaction alerts

Chime accounts

Chime has three types of accounts. When you become a Chime member, you open a checking account and receive your Visa debit card. You then have the option to open a savings account and apply for a secure credit card.

The Chime checking account has no monthly fees and no minimum balance requirement. The debit card attached to your checking account works anywhere Visa is accepted. You can withdraw money without a fee from any MoneyPass ATM, disable your card at any time from the app and get a replacement card free.

Chime offers an overdraft protection program, SpotMe, which gives you protection up to a limit (between $20 and $200) with no fees.

Chime’s savings account comes with a 0.5% variable APY. As with the checking account, there's no minimum balance requirement and no fees. There’s also no minimum deposit required to open an account and no cap on earning interest. You can transfer money directly from your checking account.

Two optional savings features allow customers to automatically transfer money to savings. With Round Ups, all purchases you make with your debit card are rounded up to the nearest dollar; Chime transfers the amount to your savings account. The Save When I Get Paid feature automatically transfers 10% of direct deposits of $500 or more from checking to savings.

The Credit Builder account helps you build credit with a secured Chime Visa credit card. You transfer money from your checking account into the secured account to serve as a security deposit; this money also becomes the credit limit on the card.

You can pay the monthly balance automatically with the Safer Credit Building feature. You can also pay manually. Chime reports to all three major credit bureaus. There is no credit check when you apply for the card, no annual fee and no interest.

Chime fees

Chime has no monthly fees and no overdraft fees. The only fee at Chime is a $2.50 charge for out-of-network ATM withdrawal or a withdrawal at a bank or credit union where you present your debit card.

You can also be charged a fee by an out-of-network ATM operator, third-party money transfer services or retailers other than Walgreens that allow you to make cash deposits to your checking account.

Chime FAQ

What bank is Chime?
Chime’s banking services are provided by The Bancorp Bank and Stride Bank. Both are FDIC-insured; accounts are insured up to $250,000 per depositor.
How does Chime Credit Builder work?
Chime Credit Builder is a secured Visa credit card that is designed to help members build credit. Chime reports to all three major credit bureaus. To apply, you need a Chime checking account and qualifying direct deposits of at least $200; no credit check is necessary.

Once you have the Credit Builder card, you can use it anywhere Visa is accepted and start building credit. Your credit limit is based on the amount of money you move from your checking account to the secured account. There are multiple ways to pay off your card each month, including Safer Credit Building, which automatically pays your balance.

What time does Chime direct deposit hit?
Direct deposit funds are available as soon as Chime receives the payment file from the payer. This can be up to two days earlier than the scheduled payment date. Chime recommends contacting the payer if you have questions about the timing of direct deposit.
How do I add money to Chime?
Members can transfer money electronically from other banks. They can also add money via direct deposit and mobile check deposit and by depositing cash at thousands of retail locations (free at Walgreens).
Is Chime a prepaid card?
No, neither the Chime Visa debit card nor the Credit Builder secured credit card is a prepaid card. The Credit Builder card is secured by the money you move into the secured account.
What are the cons of Chime?
Some of Chime’s services have eligibility requirements. SpotMe, the fee-free overdraft program, requires a qualifying direct deposit of at least $200 over the previous 34 days. Credit Builder, the secured credit card, also requires a $200 qualifying direct deposit.

Other cons of Chime are it doesn’t allow joint accounts or secondary cards, and it doesn’t have a rewards program.

Is Chime legit?

Chime is a legitimate financial technology company working with The Bancorp Bank and Stride Bank, which are both FDIC-insured. Members in all 50 states use its mobile banking services, including Chime’s checking account, savings account and secured credit card, and benefit from overdraft protection, early access to direct deposit funds and easy sending and receiving of money — all with no fees. There are many fintech companies in the mobile banking space; consider comparing Chime with several others before deciding on the right one for you.

Chime Reviews

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How do I know I can trust these reviews about Chime?
  • 3,768,994 reviews on ConsumerAffairs are verified.
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  • We use intelligent software that helps us maintain the integrity of reviews.
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Page 1 Reviews 0 - 5
Rated with 5 stars
Verified Reviewer
Original review: July 17, 2021

I opened this account basically just to get my direct deposits into. However, I have opened up a bank account, savings account, a credit card, and debit card without any chance of overdrawing this account. This was my first actual bank account all by myself at 42 years old. When I say I cannot over draw my bank account, I mean that they front you money until your next paycheck comes in without being penalized for doing so. I also get my paycheck a day early. However, when I was a temporary at my job I did get it 2 days early. So that depends on your HR department at work as well.

When I need help, there is a virtual assistant in my mobile online banking. However, if that doesn't do the job you can call to talk with a customer representative. Every time I needed help my problem was resolved immediately. I have learned a lot using Chime without being criticized for my ignorance to how banking works. I also was able to link my bank account that I share with my husband. I enjoy using CHIME BANKING and recommend it to anyone wanting a new account.

26 people found this review helpful
Rated with 5 stars
Verified Reviewer
Original review: July 17, 2021

Chime has been nothing but great for me. I get my paycheck and other allotments early, they spot me up to a hundred bucks instead of charging me fees and not clearing the transaction. I don’t have to worry about any hidden fees either. Moving to chime was the best decision I ever made. Now the brick and mortar banks are trying to imitate chime while discrediting it at the same time. I am also a veteran so my disability also got to chime and there are times when I get it three or four days early. If you don’t do anything else this year, give chime a try and I bet you will not regret it. You may not want to use regular banks ever again after using chime. Thanks.

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    Rated with 5 stars
    Verified Reviewer
    Original review: July 14, 2021

    I have been with Chime for probably two years if not longer. In the beginning I joined out of convenience and necessity, it was easy to send money back and forth between a few people who already had the card and the lack of fees and extra charges is what made it even more appealing. I quickly fell in love with the card I decided to enroll in direct deposit and shortly after it became my primary financial institution. I have access to free ATMs all over Phoenix Az. I don’t pay any extra fees for cash back or penalties for low balance. Soon after I was eligible for spot me feature and it was great. It covered me on those days where I may have been short. But the time I realized the integrity of the company was during the Covid pandemic. Man let me tell you. They raised the spot me for so many. They gave out prizes and benefits. They gave an option to use the chime credit building card.

    So many different little perks and after you get paid and you pay back the spot me there’s no fees. Just a small request to submit a tip that will allow chime to continue providing these great perks and the tip is optional. It’s not even a pushy request. They make it clear it won’t affect you and it doesn’t. I am very grateful for my account. Spot me saved me. I was going through a rough patch during the peak of COVID and right then I got the email of the increase. It was like a miracle.. So thank you Chime for the services and products you provide and your all around genuine care for your customers

    32 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: July 14, 2021

    I've been with Chime for over a year. Chime is great. I will never leave chime. My pay check is there on every week on time and in tight spots. The spot me is great. It's got me out of a bind many times. And instead of paying a bunch of overdraft fees all they ask for is a tip which I try to tip them a few bucks every week. I hope chime takes over all the banks. Banks are rip offs bb and it got me for almost 800.00 and Wells Fargo had to send me money back that they took off me for no reason. Chime has never took nothing from me. Bottom line Chime is the number one banking system and as long as they are in business I will be a customer. Keep up the great work chime. Ya'lll are the best in the business.

    28 people found this review helpful
    Rated with 5 stars
    Verified Reviewer
    Original review: June 14, 2021

    I have been using Chime for about a year now and I have been very pleased with my experience with the app and I will and do recommend to anyone who is interested in the online banking services. I have lost or had stolen debit cards on a few occasions and with Chime account I can go to the settings and turn off my card and order a new one in seconds and the credit builder card has been very helpful in repairing my credit. I still use Chime today and can not think of a negative thing about it! Oh and they also have spot me where they offer you a certain amount of overdraft and it is fee free, it has been helpful on a few occasions when I needed it most.

    13 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 21, 2022

    My husband and I both have accounts with Chime and we've been with them for more than 6 years. Up until last year, we never had an issue with anything and if we did the customer service was great at resolving it. But, I went to jail 2 years ago and I was there for about 7 months, in which time I can't use my debit card as we all know and surely can't got to Fairfield Inn and rack up 700 dollars of charges in a different location from where I'm from, McDonald's, gas stations, etc.

    I filed a dispute upon seeing that before I went to jail I had about 400 in my account, but when I was released I had negative 788. Filed a dispute, turned in three state sealed documents proving my dates on incarceration and they denied my dispute. They said I never provided them proof so I faxed emailed and mailed them, copied of all three and then they had no recollection of my rebutted, then had no documents saying why my claim was denied they just kept sending the same email to me stating they stand by their Initial decision that "no error occurred". I fought and fought and fought the past year and a half and my account is still negative and they still say no error occurred.

    My husband has had some cash app transactions come out of his account for 4 months now, filed 49 disputes for transactions totaling over 1500 dollars, they said that they blocked the merchant but it still managed to get money out. He filed several rebuttals since end of March and nothing. They denied every single dispute. Can't provide documentation as to why, but we provided statements from cash app and messages from customer service at cash app stating that they would most definitely refund the money but we have to file the dispute with our bank, Chime, and provide them with the documentation they emailed me verifying his card was attached to several other cash app accounts but not his own, and statements showing he has been a member of cash app since June 2021 and used cash app totalling 8 times and all were paid for with a different card.

    In the months they specifically had Over 800 dollars taken from my account into someone else's and the sad part is on the chine app it shows the eat persons account that the money was transferred into, but do they even care to look? Nope. We were told we would get a provisional credit on a specific date and on that date we received 49 emails denying all of our claims and no reason and we wrote back to rebuttle each on and withing a minute we received a reply of "Our decision stands and we have found no error occurred" because they deny every dispute over 50 dollars.

    I'm contacting a lawyer and already filed so many complaints with the CFPB and BBB. I'm taking this as far as it will go and I won't stop until we receive our funds back. The customer service team has been replaced with rude people or rude computers since they all just send the same response to everything "hi I know your upset so I'm here to help blah blah blah". It's a computer programmed to send the same thing back. Just called a chime bot but they address it with a real name to make you think they give 2 isshes about anything you've proven to them. Either they are making money from stealing from their customers i.e VICTIMS or they really just don't give a crap about anything and the whole chime name and associates are scamming everyone they get the information for.

    Needless to say, I will give them negative 100 stars if I could. I have 6 kids to take care of so every penny I get is for something we need not want but need so me missing out of over 2 thousand dollars is only putting them in the biggest hole ever. If I could reverse the entire time I've been a customer of chimes I would so take it back because no amount of time is worth the amount of moneys they've literally stolen from my family. Not to mention you filed police reports both times and provided them with copies and still no error occurred. The biggest error is me trusting them with my family's only means on income. And you can see I'm not the only person this has happened to try 386 more ppl. Stay back as far as you can because it may be 4 years from now but it will end up costing you way more then you bargained for....**

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    Rated with 1 star
    Verified Reviewer
    Original review: May 20, 2022

    Chime advertises that a person's direct deposit will be received 1-2 days before actual paydate when in fact it was not received and then had to jump through hoops to get the deposit. Then when transferring to an external account it takes more time! WILL NOT use this bank again!

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    Rated with 2 stars
    Verified Reviewer
    Original review: May 20, 2022

    Signed up for this 2 days ago. I'm waiting for my card in the mail. I have money in my acct bal but can't do anything with it until I activate card or link. Bank says temp card is active but still can't send money. Some reason bank verification won't go through at the moment so literally spent 2hr trying to figure this out and still can't get to my money. Very frustrated.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 18, 2022

    I have been using Chime for years. I use it so I can get my paycheck early. They have amazing perks such as spot me for up to $200+ dollars and a chime credit builder which I have been using as well. However when I lost my card someone picked it up and made purchases on it. I immediately went to dispute the purchases and the Chime support denied the disputed saying I have no evidence. Someone even purchased something at a place I have never purchased anything before for $2 I assume to test the card before purchasing more and then bought an expensive app subscription as well.

    No matter how much I tried they wouldn’t give me the money that is rightfully mine. Now I don’t feel safe using this bank and I don’t feel supported by them and will not recommend it as much as I have been. I am currently looking at other banks that offer similar perks because I don’t want a bank like this to be the place I put my money anymore. Hopefully someone at Chime sees this and learns a lesson.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 11, 2022

    Absolutely horrible customer service. My father's card was stolen the day he was hospitalized over a month ago. We called to have a replacement card sent. Because we couldn't verify the last handful of transactions they refused to help us. I explained we had no idea what the last transactions were because the card was stolen and the best I could do is verify the last deposit we knew about which was in March. Was told that wouldn't work. Even though we could verify every other bit of account info they would not help us. Got fed up and told them to just close the account so we could open a new one and was told we couldn't even do that because we can't verify transaction history. It's ridiculous that they don't have a better system in place when it comes to stolen cards. I'd rather pay a monthly service fee on another card than to ever have to deal with these people again.

    2 people found this review helpful
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    Chime Company Information

    Company Name:
    Chime
    Website:
    www.chime.com