Chime

Chime

 3.7/5 (825 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.

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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
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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.

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How do I know I can trust these reviews about Chime?
How do I know I can trust these reviews about Chime?
  • 4,008,098 reviews on ConsumerAffairs are verified.
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  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
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Verified Reviewer
Original review: Sept. 23, 2022

Chime allowed $1399.99 to be stolen from my checking account, denied my dispute, and refuses to return my money in spite of complaints filed with CFPB, BBB, and my local police department. Chime allows fraud to happen on its watch, and does nothing to protect its customers. Their reps just parrot the same canned responses over and over again. I continue to be asked to prove negatives when I did not make or authorize the transaction in question, and they need to return my money. Or, how about I get all the other people they stole from together and we file a class action suit to shut Chime down?

2 people found this review helpful
Rated with 2 stars
Verified Reviewer
Original review: Sept. 20, 2022

Why is Chime canceled orders, have a seven pending. Before I'm able to get my funds back in my checking account, my nearly $200 purchase that was canceled September 13 is still pending and tomorrow is the 20th. I have direct deposit and been banking with Chime for years. Had large deposits and they making me wait 7 days not counting weekends of course to make my money available for me. Really, are you serious? I think it's time to look for another bank. Chime is not the good bank I once thought they was.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 17, 2022

    Just opened my Chime account, got my card. Went to finishing activating my card, for some reason my account was locked out, everybody I speak to gives me the go around, now they have my money. Won't refund it. I've decided to get an attorney and report them to the BBB.

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    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 13, 2022

    In trying to build my credit I chose to use the Chime credit builder card. I uploaded several hundred dollars in cash and used the card to pay bills and for items I needed. Even after I used my own money on the card, I had a few hundred dollars left on the card. I thought the use of the card in paying my bills using my own money that I uploaded on the card was how it actually improved my credit.

    After the first month, I received a notice stating that I needed to upload an outrageous amount of $800! I didn't even use but $300 of my own money! I figured out that the initial amount of money you upload, you have to consistently place on the card. The card does absolutely nothing to help anyone's credit. You are not given any line of credit from the card, only the money you upload.

    When I realized that it was a complete scam and they were charging me for not putting the same amount on, I took all my money off my card. Just recently I got a notice that I owed $1800!!! What in the hell!! I made an initial deposit of $700, I used $300 to pay a phone bill and they are now trying to scam me out of my own money?!? Something needs to be done to stop these lying bags of shit. They are scammers who ruin your credit over nothing at all. I'm reporting them to every agency I can to stop this. Do not get involved with Chime whatsoever, they will absolutely ruin you!!

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 12, 2022

    I had unauthorized transactions that were over 1000.00 on my account. I filed the disputes, cancelled my cards, reported identity fraud, and they still denied me. Worst customer service people ever!

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 10, 2022

    Went to pay our electric bill to find out our account was drained by unauthorized purchases we never made & they will not cancel the transaction "due to policy". So now we have no money and have to wait around for them to actually process these unauthorized pending charges which could take up to 90 days so we have to struggle till God knows when, till we receive our hard earned money we worked for! So much for safe. That's a bunch of lies! So disgusted it's unreal right now.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Sept. 5, 2022

    Do not deposit a check for a high dollar amount. Never again will I do that. Even after my attorney held it for 10 days they had to do the same after receiving the funds from the other bank. I even went to the other bank to verify.....

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 31, 2022

    I believe with all my heart that it was not an outside crook but Chime itself that stole money out of my account. My wife and I within 6 months had money taken out of both our accounts. 150 out of my wife's and she had to get a new card. $1,200 out of mine and I kept calling to tell them someone was changing my phone number cause I kept getting emails saying, "If you did not change your phone number, please contact us" and then my account information got changed and I couldn't even recover it cause they changed my email and everything.

    I called Chime and they said that if I couldn't give them the login information they couldn't look at my account or give me information, that I need to contact Chime support via email. I have emailed Chime support about 37 times with zero responses begging, literally begging them. I got time to help my credit. It hurt my credit. I had to take out a high-interest payday loan just keep a roof over my head. I was working 60 hours a week and had two weeks paycheck taken out of my account with no recourse and no one seems to care. No one will help me fix it and then when I went to register a complaint through the Better Business Bureau turns out this happens all the time.

    If you Google Chime there is a huge amount of people who just have money taken out of their accounts who have people changing their account information having their information sold. I mean Chime is a bunch of crooks, you can use them if you want but please learn from my mistake. Do your research, don't take my word for it. There's plenty of research out there to support what I'm telling you right now. They are swindlers and they do not give a crap and this is going to come to light in the next couple of years. I know it is cause they can't keep this up for too much longer. You're going to hear all over the news about how Chime was doing some very very dirty business.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 24, 2022

    A friend of mine referred me to Chime to get the $100 referral bonus for each of us that they offer. Before I did that I just emailed support at Chime.com and asked since I created a login ID and password in the past will I still be eligible for the bonus. Their reply in the email was they were able to locate that I created the account in September of 2021 but it was not yet activated so I could go ahead and do a direct deposit of at least $500 within 60 days and both my friend and I would still each get the $100 bonus. Within 25 days I had a qualifying direct deposit but neither of us received the bonus. I emailed back to Chime support. They suggested I contact support through the chat feature in the app.

    I got a reply pretty quick from someone who claimed to be an expedite specialist and said she could assist me with it and ask for the name and phone number of the person who referred me. When I replied I waited about a day and I didn't get a response, so I replied asking when they were going to respond. Still nothing. I waited one more day. Asked again, "Am I going to get a response?" Still nothing. So I called Chime customer service and I was told they have no way of seeing that or helping me with that. The only people who can help me with that is Chime support via email and told me to email them back. So I emailed them back. I included the screenshot of the conversation where they assured me I would still get the bonus but I still never heard back from anyone. Stay away!

    6 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 19, 2022

    Chime stole $250 from me. I had received a few hundred dollars on my chime card. I was trying to send $250 to a friend, I accidentally spelled his name wrong by one letter. I knew immediately I made a mistake so I contacted customer service. I made a dispute. When I went to check on it a few days later they said they had no record of anything.. I made a second dispute which they denied me. Pretty much saying they couldn't give me my money back that it was just in limbo. $250 is a lot of money to me.

    6 people found this review helpful
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    Chime Company Information

    Company Name:
    Chime
    Website:
    www.chime.com