Chime® Review

Chime® is a financial technology company offering modern banking tools through its partner banks^, The Bancorp Bank, N.A. and Stride Bank, N.A. Established in 2013 and headquartered in San Francisco, Chime® provides members with nationwide access to over 47,000 fee-free ATMs through MoneyPass, Allpoint, and Visa Plus Alliance networks. Out-of-network ATM withdrawal and over-the-counter advance fees may apply.

Members can benefit from features like Early Pay, Chime+™ perks, SpotMe®, MyPay®, Chime Deals®, and the Chime Card™, which helps build credit responsibly with no interest charges or annual fees.

How it Works:

Opening a Chime® Checking Account is simple:

1. Download the Chime® app (iOS or Android).
2. Provide your personal details (name, SSN, contact info).
   
3. Add funds via direct deposit or transfer from another bank.

All deposits are FDIC insured up to standard limits through partner banks^^. 

Banking Services

Chime® provides two main types of accounts to help you manage your finances, but you must first open a checking account before you’re eligible to add a savings account. Below is a breakdown of what each account offers, including key features and costs.

Checking Account

The Chime® Checking Account comes with:

• No monthly maintenance fees
• No minimum balance requirements
• Fee-free access to 47,000+ ATMs
• Early direct deposit, up to 2 days early with direct deposit ²

SpotMe®:
Qualifying members can access fee-free overdraft coverage of up to $200 on debit or Chime Card™ transactions.

• Disclosure: SpotMe® eligibility requirements and limits apply. Overdraft only applies to debit and/or credit card transactions and cash withdrawals. Limits range from $20–$200. Chime® Checking Account required.

Savings Account

The Chime® Savings Account offers:

• 0.75% Annual Percentage Yield (APY) for standard members
• 3.00% APY with Chime+™ status
• No monthly fees or balance minimums

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 August 13, 2025. No minimum balance required. Must have $0.01 in savings to earn interest. The Chime+ APY is available only while you maintain eligibility requirements for Chime+™; otherwise, the APY for non-Chime+ members will apply. See Chime+ Terms and Conditions for details.

Automatic Savings Tools:

• Round Ups: Purchases are rounded up to the nearest dollar, and the difference goes into savings. ³
• Automatic Savings: 10% of direct deposit paychecks ($1 or more) automatically moves to savings.

Chime Card™ (Replaces Credit Builder)

The Chime Card™ is a secured credit card that helps members build credit responsibly.

• No interest charges
• No annual fees
• No minimum balance requirements

Credit-Building Disclosure:
On-time payment history may positively impact credit scores. Late payment may negatively impact credit scores. Results may vary. A Chime® Checking Account is required to apply.

MyPay® 

MyPay® allows members in eligible states to access up to $500 ⁴ of their pay before payday with no interest and no mandatory fees.

Pay Anyone® 

Chime’s Pay Anyone® feature allows instant transfers to both Chime® and non-Chime users without fees .

• Disclosure: Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.

Mobile Check Deposit

Eligibility for mobile check deposit is determined by Chime® based on direct deposit history and account activity

Disclosure: Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.

Fees

Chime® has no monthly fees, no minimum balance fees, and no overdraft fees through SpotMe® .
Out-of-network ATM fees and third-party cash deposit fees may apply 

Bottom line

Chime® provides a streamlined, low-cost alternative to traditional banks with features like Chime+™, SpotMe®, MyPay®, Chime Deals®, and Chime Card™. While it lacks in-person branches, its fee-free structure, early pay, and credit-building opportunities make it ideal for people seeking a digital-first banking solution.