-1741291165.png)
Chime® review 2025: more features, same low fees
rafapress / Shutterstock
4.3
4.3
Fees4.5
Features4.5
Customer service4
Ease of use4.5
Account types4
Interest rates4
Chime® features
How Chime® works
Chime® was designed to work as a user's primary financial management platform. So customers are encouraged to allow direct deposit. However, there's no harm in using Chime as a secondary financial platform and using other methods of deposit.
To get the most out of Chime, you must have a smartphone that is capable of downloading the app (available for Android and iPhone).
Getting started is easy. It takes only five minutes. You'll need to provide your Social Security number, birth date, address, and a secure password and have your smartphone handy to complete the signup process.
Once you're logged in, if you want to use direct deposit, you can print out or download the information your employer needs to direct your paychecks to Chime®.
If you decide to forego the direct deposit option, you can send money to your spending account using the following methods:
- Direct bank linking by logging into your external account using the Chime app.
- External bank link using your Chime routing and account numbers at your current banking platform.
- Depositing through Green Dot retailers.
- Using an external debit card.
After signing up, any interactions with your account can be done through the mobile app. These include activating your new debit card, transferring money between accounts, opening a savings account, or getting help.
Chime Visa® Debit Card
After your spending account is approved, you automatically get a free Chime Visa® Debit Card that is mailed within ten business days.
The Chime Visa® Debit Card is linked to your spending account. Use your debit card anywhere in the U.S. that accepts Visa.
If you need cash, there are more than 50,000+ free ATMs through Chime's partner MoneyPass, at any Allpoint or Visa Plus Alliance ATM. You can find the nearest in-network ATM using the Chime app.
You can also get cash during checkout at participating merchants like Walmart, CVS, Target, Whole Foods, and Safeway, to name a few.
Chime's checking account
Chime's offers a basic checking account that has no minimum balance requirements. It offers Early Direct Deposit, which will deposit your paycheck up to two days earlier than you'd likely receive it from a traditional bank.
If you need to send someone a paper check, use Chime Checkbook. Through the app, go to your account to pay a bill and fill out the on-screen information, and Chime will process it for you by sending a physical check to your recipient by mail within three to nine business days. This service is free.
Manage your funds, analyze your spending, transfer money between internal and external accounts and view all your transactions from the mobile app. Your Chime Visa® Debit Card is linked to your checking account. It makes buying whatever you need and paying for bills online super-easy.
Learn more about ChimeChime savings
The Chime savings account Annual Percentage Yield (APY) is 2.00%, which is higher than the national average.
And Chime offers two unique features, Round Ups and Save When I Get Paid, that can help you set money aside automatically. Here's how they work:
- Round Ups: Every time you make a purchase using your Chime debit card, the Automatic Savings Program (ASP) rounds up the purchase amount to the nearest dollar and saves that money into your savings account. You get unlimited round ups each month.
- Save When I Get Paid: If you have a direct deposit going into your spending account, you can activate your savings account to transfer 10% of your paycheck into savings automatically.
Chime Credit Builder Secured Visa® Credit Card
If you are looking for a new way to build credit, then Chime Credit Builder may be able to help. These accounts allow you to build credit with everyday purchases and by making on-time payments. Chime Credit Builder reports to all three credit bureaus to help you build credit over time.
Chime Credit Builder is one of the most attractive credit builder accounts on the market today thanks to the fact that it has:
- No annual fees
- No interest
- No large security deposit requirements
- No credit check to apply
To use Credit Builder, you move money from your Spending Account into your Credit Builder account. This is the amount of money that you can spend on your secured card.
You can use your Chime® Credit Builder Secured Visa® Credit Card anywhere that accepts Visa cards. And the money you move into your Credit Builder account automatically pays your monthly balance on time when you have the “Safer Credit Building” feature turned on.
Chime SpotMe®
Chime SpotMe® is a program that gives overdrafts free of charge, up to $200. This allows eligible Chime members to make purchases with their debit card without worrying about the overdraft fee that would otherwise be attached. The overdraft amount is deducted from your next deposit.
You can make debit card purchases with your Chime SpotMe® account and make cash withdrawals. Note that it does not cover any Pay Friends transfers, ACH transfers, or Venmo or Square Cash services.
Chime SpotMe® is a free service for eligible Chime members. To qualify, you need to have a Chime bank account and receive direct deposits of at least $200 a month. You'll be eligible each month if you continue to meet this $200 minimum deposit requirement.
Eligible members can also send Boosts to family and friends to increase their Chime SpotMe® limits. They can also Boost you back to raise your limit.
Learn more about Chime®Customer service support
You can contact Chime 24/7 via phone or email. They also have an online help center that answers many popular questions.
Chime has a an A+ rating on the Better Business Bureau website and 3.1 stars out of 5 stars from customers. Many of the complaints on the website are from 2020 regarding closed accounts and not receiving funds.
Chime fees
Chime is dedicated to “empowering people to lead healthier financial lives.” One of the ways they seek to fulfill this mission is by not relying on customer fees. Instead, Chime makes money from Visa every time customers use their Visa debit card for purchases.
Chime doesn't believe in hidden fees and is very transparent. There is:
- No minimum balance
- No monthly fee
- No membership fees
The only fee you will come across is a $2.50 out-of-network ATM fee. The ATM fee amount is charged to your Chime Spending Account.
Chime alternatives
| Highlights | Capital One 360 | Ally Bank | CIT Bank |
|---|---|---|---|
| Rating | 3.75/5 | 4/5 | 4.25/5 |
| Accounts | Savings, Checking, CDs | Savings, Checking, Money Market, CDs | Savings, Checking, Money Market, CDs |
| Online deposits | ✅ | ✅ | ✅ |
| Physical branches | ✅ | ❌ | ❌ |
| FDIC insurance | ✅ | ✅ | ✅ |
| ATM reimbursement | ✅ | ✅ | ✅ |
| Read reviews | Capital One 360 review | Ally Bank review | CIT Bank review |
| Open account | Get started | Get started | Get started |
CIT Bank. Member FDIC.
Chime pros and cons
Pros
-
Virtually zero fees: The only fee you'll ever pay is for out-of-network ATM withdrawals.
-
Visa debit card: You'll receive a Visa debit card that can be used wherever Visa debit cards are accepted.
-
Automatic savings: Allow Chime to automatically “round up” money to deposit in your savings account. You can also have 10% of every paycheck automatically deposited into your savings account.
-
ATM network: Although Chime has no physical branch locations, you can make withdrawals fee-free at more than 50,000 ATM locations.
Cons
-
Limited account types: Chime allows only one checking and one savings account.
-
No debit card rewards: Chime doesn't offer any cash back rewards on debit card transactions.
Is Chime safe?
Chime's spending and savings accounts and free Visa debit card are supported by The Bancorp Bank, a finance industry leader that's insured by the Federal Deposit Insurance Corporation (FDIC). So, yes, it's a safe place to keep your money.
It uses advanced encryption to secure its website. And it offers customers multiple ways to further protect their accounts such as two-factor authentication (2FA) and fingerprint authentication.
Is Chime legit?
Yes, with 20 million customers and counting, Chime is far and away the largest online-only financial technology company in the United States. It gives you access to a large ATM network, allows you to use your card overseas with no foreign transaction fee, and you can deposit checks electronically through your mobile phone.
Chime also makes it easy to start an account. All you have to do is head over to Chime and download the mobile app. Once you enter some basic information, you can set up your online account. You must be 18 or older to have an account, and you must be a U.S. citizen or permanent resident to have a Chime account.
Summary
If you're looking for a fee-free, mobile-friendly financial technology company with features that can help you save and earn extra money, then Chime is worth a try.
If you need access to legacy banking options like brick-and-mortar branches or paper checks, then Chime won't be for you. Also, if you're specifically looking for a high-yield savings account, you may want to compare your options here or check out our post on the best Chime alternatives.
Learn more about ChimeChime Disclosure - Chime® is a financial technology company, not an FDIC-insured bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply. The Chime Visa® Debit Card and the secured Chime Credit Builder Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank, N.A., pursuant to licenses from Visa U.S.A. Inc. and may be used everywhere Visa debit or credit cards are accepted. Please see back of your Card for its issuing bank.
Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank, N.A. and Stride Bank, N.A. (“Banks”). Banks are not responsible for the accuracy of any content provided by author(s) or contributor(s). Third-party trademarks referenced for informational purposes only; no endorsements implied.
Chime Checkbook - While Chime doesn’t issue personal checkbooks to write checks, Chime Checkbook gives you the freedom to send checks to anyone, anytime, from anywhere. See your issuing bank’s Deposit Account Agreement for full Chime Checkbook details.
Chime SpotMe® Disclosure - SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.
Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined 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 SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit Builder and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe Terms and Conditions.
SpotMe® Boost: Boosts are available to eligible Chime members enrolled in SpotMe® and are subject to monthly limits.
MyPay® Disclosure - To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
No Interest Disclosure - Option to get funds instantly for $2 per advance or get funds for free within 24 hours. See Bancorp MyPay Agreement or Stride MyPay Agreement for details.
Chime Credit Building - To apply for Credit Builder, you must have an active Chime® Checking Account. Based on a representative study conducted by Experian® in January 2024, members who made their first purchase with Credit Builder between June 2022 and October 2022 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.
No Minimum Security Deposit Disclosure - Money added to Credit Builder will be held in a secured deposit account as collateral for your Credit Builder Visa card, and you can spend up to this amount. You can use money deposited in your Secured Deposit Account to pay off your charges at the end of every month.
Deposit Account Agreement Disclosure - Sometimes instant transfers can be delayed. The recipient must use a valid debit card to claim funds. See your issuing bank’s Deposit Account Agreement for full Pay Anyone Transfers details. See Terms and Conditions.
Chime APY Disclosure - The Annual Percentage Yield ("APY") for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of March 6, 2025. No minimum balance required. Must have $0.01 in savings to earn interest.
Chime ATM Disclosure - Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.
Cash Deposit Disclosure - Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
Early Access Disclosure - 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.
Chime is not FDIC-insured. The Bancorp Bank, N.A. and Stride Bank, N.A. are the FDIC-insured members. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through deposit insurance coverage to apply.
Christine is a freelance money blogger who is passionate about helping fellow solopreneurs do better with their time and money. Her love for freelance blogging shows in her work where her clients get results!
Latest Articles
Disclaimer
The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter. Advertisers are not responsible for the content of this site, including any editorials or reviews that may appear on this site. For complete and current information on any advertiser product, please visit their website.
†Terms and Conditions apply.