Chime Banking is a no-fee mobile bank account that offers a Spending Account, a Savings Account, and a Visa debit card.
Chime Banking Accounts
Spending (Checking) Account – Chime account has no minimum balance requirement and no monthly fees, transfer fees, or overdraft fees. The spending account has the Visa debit card for your purchases.
Savings Account – Save automatically as you make purchases using your account. Chime rounds your purchases to the nearest dollar and moves that amount into your Savings Account. No fees or minimum balance requirements. Transferring between your Spending and Savings accounts is quick and simple.
Features And Benefits
- Early Direct Deposit – Access to your direct deposited paycheck from your employer or benefits provider up to 2 days earlier. For some, that means payday comes Wednesday, not Friday.
- Roundup Savings Feature – round ups the purchase to the nearest dollar and transfers the difference from your Spending Account into your Savings Account.
- SpotMe: Overdraw fee-free on debit card purchases when you need it.
- Interest rates on savings. Earn money in your savings account.
- Connected Accounts – connect your accounts with external financial institutions so you can view and easily transfer between Chime and other financial institutions.
- Real-time Notifications – get alerts about spending activity and balances to keep you on track.
- Absolutely No Fees – no monthly fees, transaction fees, statement fees, debit card fees, foreign transaction fees, or overdraft fees.
- ATM Access – access to 35,000+ surcharge-free ATMs.
- Instant Cash Rewards – spend with their partners and earn dollars back that’s deposited into your savings account.
- App Security Features – block access to your Visa debit card if you lost or stolen.
- Pay Friends – send money to your friends easily through the app.
- Bill Pay – set up automatic bill payments
- No Checks – Send a paper check using a Checkbook feature.
Chime Banking Account Overview
Chime Bank, founded in 2013, is a mobile-only bank with its banking services provided by The Bancorp Bank or Stride Bank, N.A., Members FDIC.
What Is Chime Spending and Savings Account?
Chime offers a bundled service that includes a Spending Account, Savings Account, and a Visa debit. Chime’s goal is to eliminate the high banking fees and impersonal approaches most people have experienced with existing banking relationships. Chime does not charge any fees making it a highly competitive financial service.
Who is it best for?
Chime is best for everyone who prefers high-tech functionality. For those who are unable to open accounts with traditional financial institutions, Chime does not do credit checks or use Chexsystems as part of the signup process.
Chime Banking Traditional and Digital
- No branches. Speak with customer support through the app.
- Get your routing number and account number in the app.
- Use of the debit card for in-store or online purchases.
- Block your debit card right in the app if you’ve lost or had it stolen.
- Real-time alerts to let you know what’s happening with your account.
- Send a paper check to someone without writing a check.
- Connect your traditional bank with branches to your Chime account and make transfers.
- FDIC insured deposits through Chime’s bank partners.
Safety and Security
Chime requires two-factor authentication and supports fingerprint authentication. Your deposits are insured up to $250,000 through The Bancorp Bank; Member FDIC. With Visa’s Zero-Liability policy, you’re protected from all unauthorized purchases.
Learn more Chime FAQ.