Chime® Summary
Chime® Pros & Cons
Pros
Cons
Chime® at a glance
Fees
Security
Customer Service
Online and Mobile Experience
Features and Benefits
Advantages Over Regular Bank
Chime® is one of a new generation of fintech companies offering access to financial services in sleeker and more user-friendly ways than traditional banks. Instead of pushing an endless number of products and services that require lots of red tape and fees, Chime focuses on the essentials.
Chime is completely digital, but with over 47,000 fee-free ATM locations˜ , it is easy to access your funds when needed.
Now, get your federal tax refund up to 6 days early when you direct deposit it with Chime.
Here are some more winning points for Chime:
- No Monthly Fees: That means no monthly fees, no minimum balance fees, and no overdraft fees whatsoever.
- Faster Pay: Get your hard-earned money faster with a direct deposit.
Cutting-Edge Banking Services
You aren’t going to find a lot of variety when it comes to Chime’s product offerings, but the products they do offer really shine.
Here are the top Chime banking features:
- Optional automatic savings feature: Every purchase you make with your checking account can be automatically rounded up and placed into your Savings Account to earn interest. For example, your $3.55 latte automatically banks you $0.45 into your Saving Account. Additionally, Chime users can have a percentage of every paycheck automatically deposited into their Savings Account.¹
- Bad credit friendly: Your poor credit will not keep you from getting a Chime account. That's right: no credit checks or ChexSystems.
- SpotMe®*: You won’t be penalized for spending a little more than you should have with SpotMe® fee-free overdraft protection of up to $200* for eligible members. You do have to repay your SpotMe® negative balance and you have the option of leaving a voluntary tip to pay the next overdraft forward. This kind of thinking keeps Chime from piling on the fees for all of its members.
Traditional Banking Services
Even though Chime is recognized for innovative financial services, you can still expect a few traditional banking perks, such as:
- ATM accessibility: You don’t have to worry about going out of your way to find an in-network ATM. Your account comes with unlimited cash withdrawals at over 47,000 fee-free ATMs˜, and you can get cash back at many other locations, such as some grocery stores.
- Chime Visa® Debit Card: Your Chime card is accepted anywhere Visa is accepted
- Checking account: The account acts almost identically to the checking account you are used to—minus the checks.
Interest Rates and Fees
Chime offers a Checking Account and an optional High-Yield Savings Account. The Chime® Checking account works like a traditional checking account. The Chime High-Yield Savings account has a standard Annual Percentage Yield (APY) of 0.75% as well as a more competitive APY of up to 3.00%⁺ with Chime+™. Chime does not offer other traditional investment products such as CDs or money market accounts.
Both the Checking and High-Yield Savings accounts are free to open, require no minimum deposits or balances, and have no monthly fees.
Chime's High-Yield Savings Account offers:
- Standard APY: 0.75% (as of latest update)
- APY with Chime+™: Up to 3.00% APY with qualifying direct deposit via Chime+ membership
- Fees: No monthly maintenance, overdraft, or minimum balance fees
| Feature | Value |
| Monthly Fee | $0 |
| Minimum Balance | $0 |
| APY (Standard) | 0.75% |
| APY with Chime+™ | Up to 3.00%⁺ (varies) |
Customer Service
While you can reach the Chime team via the mobile app 24/7, this customer support tab is only available for newer versions of iPhone and Android.
Chime’s live support service is available 24/7/365 and can be reached through their customer service number at (844-244-6363) or online and through their mobile app.
Mobile App
Chime makes mobile banking a breeze with its modern and sleek app. With over 350,000 five star reviews in app stores, it is clear that Chime users love the app for tracking their expenses and paying friends quickly.
The Chime app allows you to:
- Always know your account balance
- Receive instant transaction alerts
- Instantly disable (and re-enable) your debit card
- Turn international transactions on and off
- Deposit checks on the go
- Transfer money between accounts
Security
Chime keeps your money and information safe with 128-bit AES encryption, access control, and secure processes. Funds are also held at FDIC insured banks,². Chime allows users to keep their money safe with the ability to instantly turn off a debit card if it's lost or stolen. You can receive real-time purchase alerts to make sure the only one spending your money is you.
Conclusion
Chime is an excellent financial app choice for individuals who want to enjoy excellent mobile capabilities and streamlined financial services. Those wishing for a more traditional bank feel with all of the perks of online banking should look into one of these hybrid banks instead.
Disclosure
Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. Chime Visa® Debit Card and The secured Chime Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted.
†APY: The Annual Percentage Yields ("APYs") for the Chime Savings Account are variable and may change at any time. The disclosed APY rates are effective as of 01/29/2026. No minimum balance required. Must have $0.01 in savings to earn interest. The following APY rates apply based upon your status: 3.75% APY for Chime Prime, 3.00% APY for Chime Plus, and 0.75% APY for standard. See Chime Membership Tiers Terms and Conditions for more details.
*Chime Prime: To be eligible for Chime Prime status, receive $3,000+ in qualifying direct deposits to your Chime Checking Account in the past 34 days. To be eligible for Chime Plus status, receive either 1) a single $200+ qualifying direct deposit; or 2) $400+ in cumulative qualifying direct deposits to your Chime Checking Account in the preceding 34 days. Certain products marketed as perks have additional eligibility requirements. While some perks may have associated fees, none of these fees are mandatory to access the perks or to maintain the applicable status. See the Chime Membership Tiers Terms and Conditions for details on all listed Prime and Plus perks.
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.
+SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account available to qualifying members with an active Chime Card Account. To qualify for the SpotMe on Chime Card service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your physical secured Chime Visa® Credit Card or Chime Visa® Debit Card.
Qualifying members will be allowed to overdraw their Secured Deposit Account up to $20, but may later be eligible for a higher limit of up to $200 or more based on Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Chime Card Limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime's or its banking partners' discretion. Although Chime does not charge any overdraft fees for SpotMe on Chime Card, there may be out-of-network or third-party fees associated with ATM transactions and fees associated with OTC cash withdrawals. SpotMe on Chime Card won't cover non-card transactions. Spot Me on Chime Card Terms and Conditions.
^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 and over the counter advance fees may apply except at FCTI® ATMs in a 7-Eleven® or Speedway, or any Allpoint® or Visa® Plus Alliance ATM participating in the Allpoint network.
1. You can automatically transfer part of your direct deposits of $1 or more from your Checking Account into your selected Chime account(s).
2. Optional services and products may have fees or charges, such as outbound instant transfers, out-of-network transactions, and credit products. Learn more here.
3. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.
The BestMoney editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.
