What is Chime?
Chime is a US based branchless fintech company, founded in 2013. It is one of the fastest growing branchless banks in the US with more than 8 million customers as of now.
It does not have its own banking license, but provides its app-based services via FDIC-insured bank partners.
Chime is a good option if you live in the US and looking for a platform to make your transactions easier and simpler.
Chime Bank Fees
Account opening and maintenance fees
Opening a bank account with Chime is free and it also does not require any monthly charges. Also they do not charge any maintenance fees.
Chime does not charge any fee for card delivery and replacement (in case of lost/stolen).
Withdrawing money at over 38,000 ATMs in the US in the MoneyPass and Visa Plus Alliance networks is free. However, there is a $2.50 fee for every withdrawal transaction outside these networks in the US and globally.
There is a limit of $500 for ATM withdrawal.
Transferring money from one Chime account to another chime account within the US is free. Automated Clearing House transfer is also free. But on the other hand, you can not make international transactions through a chime account.
Account opening at Chime is easy and hassle free. It is a fully digital process & one can open the account by sitting at home only. This bank is available only for permanent US residents.
You can open a current account or savings account with Chime. The account can be opened only in one currency and i.e; USD.
Chime Bank Top-Up Methods
At Chime Bank, you can use the following methods to top up, i.e. deposit money to your account:
- Direct deposit from employer
- Bank transfer: either directly from your home bank, or from within the Bank app after linking it to your bank account (not all banks supported). In the latter case, there is a $200 daily and $1,000 monthly limit on transfers.
- Mobile check deposit (only if direct deposit has been enabled)
- Cash (at over 90,000 GreenDot locations in the US): You can deposit a maximum of $1,000 per 24 hours or $10,000 per month in cash.
- You can see your transactions and classify it in different categories.
- You can send money to other Chime holders free & instantly.
- Smart savings are also available, where Chime Bank will round up the amounts you actually spend and store the difference in your Savings Account.
- Easy account overview and management.
- You can earn interest on your savings.
- Setting up or canceling direct debits is possible with Chime Bank.
- Overdrafts are possible. If you receive at least $500 per month in direct deposits, the Spot Me feature allows you to overdraw your account $20 to $100 without a fee.
- You can set up Apple Pay, Google Pay or Samsung Pay.
|Low fees, no minimum balance required||Only available to US residents|
|Great savings options, pays interest||Cannot use bank card to top up, deposit money to card|
|Get paid early via direct deposit||Customer service is not always too helpful|
You can connect Chime through :
How do I make direct deposits?
The easiest way to deposit funds to your Spending Account is by direct deposit from your employer.
To make direct deposits through your employer or payroll provider, provide them with your Chime routing number and Spending Account number. Chime takes care of the rest.
Your funds will automatically post to your Chime Spending Account as soon as we receive them.
What if my Chime Visa Debit Card is lost or stolen?
If your debit Card is lost or stolen, you can disable transactions on your card.
To disable transactions in the Chime mobile app or at www.chime.com:
- Under Settings, go to the Security section.
- Turn off Chime Card Transactions.
This step immediately prevents your card from being used for any more transactions.
Does Chime offer joint accounts?
They don’t currently offer joint accounts or secondary cards. We understand the importance of sharing a bank account with a spouse or a dependent so we’re actively working on this feature. Stay tuned for more information!
Can I use my Chime Visa Debit Card outside of the United States of America?
You can use your Chime Visa Debit Card anywhere Visa is accepted as long as you have International Transactions turned on in your Settings.
They does not charge a fee for international transactions.
Be aware that our fee-free ATM network only covers ATMs within the United States. Your card is charged an ATM fee when you use an international ATM.