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Chime® Checking Accounts Review

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Chime® is a financial technology company. Banking services are provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC. Chime offers mobile and online financial services with an award-winning app and debit card that allows its members to manage their money on the go. The app allows consumers to upload and deposit checks, manage their spending and savings accounts, and send money.

 
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How is Chime® rated?

Breakdown

4.6/5
Account Features
4.5/5
Fees and Restrictions
4.1/5
Support, Reputation, and Financials

Overall Rating: 4.4 / 5 (Excellent)

Chime® is an innovative financial service for the new millennium, forgoing old-fashioned checking features for a fully digital experience. With the Chime app, customers can handle everything from depositing checks to paying bills to sending money to friends and family.

Chime offers early access to money deposited through direct deposit: up to 2 days earlier^ than you probably had access to your paycheck previously. In addition, Chime checking accounts aren't subject to many of the traditional restrictions and fees that other banks charge for checking services. There is no minimum deposit required to open a Chime checking account and you won't pay any monthly service fees or per-transaction charges˜. In fact, the only fee ˜Chime charges is an out-of-network ATM fee of $2.50. That being said, Chime's ATM network is 60,000+ locations wide, so the chances of having to use an out-of-network ATM are narrow.

If you're one of many consumers who don't keep perfect track of their balances and occasionally overdraw your checking account, you'll enjoy Chime's SpotMe® feature. Eligible members can overdraw your account up to $200* without incurring an overdraft penalty fee.

Chime is backed by strong financial ratings. Additionally, customers are overwhelmingly satisfied with their service. All of this makes Chime a great alternative for tech-savvy people who want financial peace of mind.

Chime® Account Features

Account Features - 4.6 / 5

Chime offers its customers a fully digital checking account, which works like a traditional checking account, with one exception: you can't write physical checks from your account on your own. Ten years ago, that might have been unthinkable, but these days it's more common to pay and be paid through mobile apps and direct deposit or direct debit. Customers who need to send a check somewhere can ask Chime to write and send it for them. You can apply online for a Chime account in about two minutes without affecting your credit score.

Chime provides a Visa®-branded Debit card with EVM chip capability and gives its customers access to a 60,000+ location network of fee-free˜ ATMs. You can instantly deactivate your card from the Chime app in the event it's lost or stolen.

In order to deposit money into a Chime account, customers can use the Chime app to deposit checks by taking a photo and uploading it, by making wire or ACH transfers, or by transferring money from external accounts. Members can pay friends and family, Chime members or not. No extra apps needed. The app is compatible with both Apple Pay and Google Pay.

Chime also offers early direct deposit, which makes directly deposited funds available up to 2 days earlier^ than they'd otherwise be. Additionally, customers can open a separate savings account with Chime through the app and easily set up automatic deposits from the spending account. That's an easy, effective way to reach your savings goals more quickly.

The Chime app allows account holders to set up real-time transaction notifications, such as notifications after every purchase or purchases over a certain amount. Customers can also opt to receive daily balance alerts.

Chime accounts also come with an optional service that provides fee-free overdraft. With SpotMe®, you can overdraw your checking account up to $200* for eligible members without incurring an overdraft fee.
Types of Checking Accounts
Fee-Free Checking Accounts
Second Chance Checking Accounts
Online Deposit Account
Methods of Deposits
Mobile Check Deposit
Wire Transfer
Online Transfer
Direct Deposit
Integration with Other Online Accounts
Savings
External Banks
Scheduled Withdrawals to Savings
No-Fee ATM
No-Fee˜ at 60k+ Network ATMs
ATM Locations
Access Chime’s 60k+ fee-free˜ AMTs at stores like: Walgreens®, 7-Eleven®, CVS Pharmacy®. Withdrawing from out-of-network ATMs will incur a $2.50 fee˜. A map on Chime's website lets customers find nearby in-network ATMs and cash-back locations.
Branch Offices
Since Chime a fully-digital financial technology company, the company has no branch locations.

Overdraft Protection

Chime's SpotMe® feature provides up to $200* worth of fee-free overdraft protection for eligible members.
Integration with Mobile Payment Services
Apple Pay
Google Pay
Card Blocking
Yes
Pay Bills Online
Yes
EMV Chip Technology
Yes
Bank Checks
No
Mobile App
Yes

Chime® Fees and Restrictions

Fees and Restrictions - 4.5 / 5

Chime prides itself on not charging any hidden fees˜. Customers will not pay overdraft, maintenance, ACH transfer, card replacement, foreign transaction, or in-network ATM fees˜. Customers who use out-of-network ATMs will pay $2.50 per transaction. Some limits apply for amount withdrawn per day or monthly transfers, among other restrictions.
Maintenance Fee
$0
Minimum Balance
$0
Minimum Monthly Deposit
$0
Minimum Number of Transactions
0
Other Fees
Collection Item Fees

Chime® Support, Reputation, and Financials

Support, Reputation, and Financials - 4.1 / 5

Chime’s banking services are provided by the Bancorp Bank or Stride Bank N.A.; Members FDIC. They both hold great financial ratings from the major credit agencies. This means the company's long-term outlook looks steady and is not seen as being in immediate risk of failure. As for the services provided by Chime, it holds an 4.0 out of 5-star rating on Trustpilot.com. There, past and present customers appear to be satisfied with the service, praising the ease of use of the account and the convenience of its early direct deposit feature. Chime doesn't fare as well with the Better Business Bureau: that organization gives the company a B rating.
BBB Rating
B
BBB Total Complaints
BBB Resolved Complaints
Trust Pilot Rating
4.0 out of 5
Date Collected
2022-09-22
Year Founded
2013
Standard & Poor's Financial Rating
A+
Moody's Financial Rating
A1

Contact Methods

  • Phone
  • Email
  • Social Media

Company Profile

Full Name
Chime® Checking Accounts
Company Website
https://www.chime.com/
Headquarters
P.O. Box 417, San Francisco, CA, 94104

Disclaimers

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. ^ Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. ~ Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM. * Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each month. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member's Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime's discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe won't cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.
To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

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Customer Comments & Reviews

Loading Reviews ...
Jorge J
3/29/2023
You can only do mobile deposits if you have direct deposit for a paycheck. Asking to close the account will incur a penalty of $200, even if no services were rendered by the company. Calling you for help puts you in contact with some call center in India where you have to deal with someone whose English is barely comprehensible. This is nothing but a scam

mikeespinoza21
5/6/2022
No protection when money was stolen from account called but no help

Top Rated
Our Partner

Get paid up to 2 days early with direct deposit1

  • No minimum balance, no monthly fees and no overdraft fees

  • Over 60,000 fee-free ATM locations2

  • Receive access to Chime Credit Builder Secured Visa® Credit Card3

  • Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC

1. Depends on the timing of the submission of the payment file from the payer

2. Terms Apply

3. See website for details

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