Chime is an online-only financial technology company headquartered in San Francisco, California. Chime is considered a neobank — which means it is not a traditional bank — and operates as a digital banking platform that partners with other banks to provide its checking and savings accounts.
The company was founded around 2013 to provide a fee-free alternative to traditional banking. Prior to founding Chime, its CEO served as Chief Product Officer at another fintech company called Green Dot and as a senior product leader at Visa.
Chime has seen swift growth, boasting over 25 million account holders since it launched in 2014 and raised over $3.15 billion in private funding.
With a minimalist, user-friendly platform, Chime aims to help people get ahead financially by encouraging a mutually beneficial partnership between bank and customer.
Chime Products
Big, traditional financial institutions often come with an overwhelming variety of products — with Chime accounts, things are kept pretty simple.
Checking
The Chime Checking Account is the foundation of its entire platform — a mobile-first, fee-free spending account with no monthly maintenance fees, no minimum balance requirements, and no opening deposit needed.
The account is designed for everyday use, with real-time transaction alerts, instant card freeze and unfreeze, and fraud monitoring built in. Members also get Spending Insights, a tool that helps track and categorize purchases automatically so they can see where their money is going.
It comes with a Chime Visa® Debit Card with access to over 47,000 fee-free ATMs nationwide, which is more than the top three national banks combined.
One of its most popular features is early direct deposit. Users who set up direct deposit can receive their paycheck up to two days before their actual payday. This addresses a longtime frustration with traditional banks, which would hold funds for days before crediting them.
The checking account also serves as the gateway to virtually every other Chime product. Eligibility for SpotMe, MyPay, Chime Card, Chime+, Chime Prime, and Instant Loans all flow through having an active Chime Checking Account with qualifying direct deposits, making it the hub of the Chime ecosystem.
Learn More:
- Best Online Banks
- Instant Account Blocking: If you lose track of your card or suspect unauthorized use, you can take care of it without making a phone call. Just open up the Chime app and temporarily disable your account.
- Real-Time Alerts: You can set up alerts on your phone every time a transaction happens with your card. These alerts can help you keep track of spending and notify you if someone else is using your card.
- FDIC Insured: All Chime accounts are backed by its banking partners, The Bancorp Bank or Stride Bank, N.A. Both banks are insured by the FDIC, meaning your deposits are always protected up to $250,000.
- Visa Zero Liability: Chime debit cards are protected by Visa Zero Liability, which means that if purchases are made with your card before you can disable it, you won’t be responsible for covering them.
- 128-Bit AES Encryption: Strong encryption software is essential for online banking, so you can rest assured that any sensitive information stored within Chime will be unreachable for any potential unauthorized users.
- No monthly maintenance fees
- Excellent online and mobile functionality
- High APY on savings account
- Great for rebuilding credit
- Fee-free access to 47,000+ ATMs
- Ability to make cash deposits
- No physical locations
- Limited account options and services
- Direct Deposit required to earn highest APY
- History of mixed customer reviews
- Potential Fees for cash deposits
Savings
Chime’s High-Yield Savings Account is the platform’s sole option for savings.
High-yield savings accounts are typically a major selling point of online-only banks, and Chime is no different.
In 2026, BankBonus.com ranked Chime as one of our Best High-Yield Savings Accounts, with a competitive annual percentage yield (APY) currently sitting at up to 3.75%. It’s important to note, you’ll need to be a Chime Prime member to unlock the highest APY.
Chime aims to make saving easier with two built-in automation tools which make saving passive rather than intentional. “Round Ups” rounds every debit card purchase to the nearest dollar and sweeps the difference into savings, while “Save When I Get Paid” automatically transfers 10% of any direct deposit of $500 or more directly into the savings account.
Another cool and unique feature is the ability to set savings goals. This can be for anything you would like: emergency fund, vacation fund, birthday gifts, etc. You get an unlimited amount and you can track the progress to help watch them grow.
Lastly, as mentioned earlier, even though Chime is not technically a bank, all of your funds are held in FDIC-insured accounts through Chime’s partner banks, The Bancorp Bank, N.A. and Stride Bank, N.A. This offers protection up to $250,000 per eligible account per ownership category.
Learn More:
Credit Building Chime Visa® Debit Card
The Chime Card is a Visa® debit card specifically designed to help people build or rebuild their credit without the typical barriers.
There is no annual fee, no interest charges, and no minimum security deposit required. Chime doesn’t run credit checks, so don’t worry if your score is low.
During signup, you can select between 3 different colors: black, green, or upgrade to titanium for $50. Once you’re done, move money from your Spending Account, which becomes your available balance.
Each month, your balance gets paid with the money you’ve already moved over, and Chime reports your balance as paid in full, just like a normal credit card — easy, right?
This could be a great option for those looking to build credit without the added risk of running up a balance. Chime boasts users can increase their score up to 70 points with on-time payments!
The Chime Card doesn’t have a point system or intro bonus; however, it does earn cash back on rotating categories when you connect your direct deposit to your Chime Checking Account.
The Chime Visa® Debit Card and The secured Chime Visa® Credit Card are issued by The Bancorp Bank, N.A. or Stride Bank, N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit and credit cards are accepted.
Chime vs. Chime Plus vs. Chime Prime: What’s the Difference?
Chime offers three membership levels that you’re automatically enrolled in depending on your direct deposit activity — Chime, Chime Plus™, and Chime Prime™.
All three memberships share the same foundational banking benefits; however, the difference comes in the form of extra rewards, savings, and perks you gain access to.
Chime
Chime is the basic level of membership. There is no direct deposit required, so it comes with less perks.
You’ll earn no cash back with your Chime Card, you’re ineligible for fee-free overdraft with SpotMe® and early paycheck with MyPay® and you’ll receive the lowest Savings APY at 0.75% APY.
Chime Plus™ (Chime+)
Chime Plus is the next step up and is enabled with monthly direct deposits of $400+.
You’ll earn 2% on your category choice on your Chime Card (up to $30 per month), up to $200 in overdraft protection with SpotMe®, up to $500 in early paycheck with MyPay® and 3.00% APY on Savings.
Chime Prime™
New for 2026, Chime Prime is the highest tier of membership and is enabled with $3,000+ in monthly direct deposits.
You’ll earn 5% on your category choice on your Chime Card (up to $75 per month), up to $200 in overdraft protection with SpotMe® ($50 instantly), up to $500 in early paycheck with MyPay® and up to 3.75% APY on Savings.
It’s worth noting that MyPay instant advance fee is 3% of each advance amount (minimum fee of $2.00, maximum fee of $5.00).
Chime Features
Below are some of the features that set Chime apart:
47,000+ Fee-Free ATMs
Chime partners with the Visa Plus Alliance and MoneyPass so you can access ATMs at stores like Walgreens®, 7-Eleven®, CVS Pharmacy®, Circle K®, Walmart®, Dollar General®, Target, 7-Eleven and other retailers. This gives account holders fee-free access to over 47,000 ATMs throughout the United States.
As Chime continues to evolve, this gives them a unique advantage since consumers can access more than 3x more ATMs than the big national banks.
Online-Only Banking
Chime is a neobank that operates entirely as an online-only bank with no brick-and-mortar bank locations.
This can mean a few things for customers, but the primary factor is that with less overhead for physical spaces and employees, online banks don’t have the same need to nickel and dime you on monthly fees.
Highly-Rated Mobile App
Chime advertises itself as a bank built by a tech company, so it’s no surprise that it’s on top of things when it comes to mobile usability.
The Chime app has many options for automation and notifications and includes everything you need from a bank right from your phone.
You can deposit paper checks, make transfers, and monitor your balance — anywhere you have an internet connection.
Current users on both iOS and Android are happy. The app has a 4.8-star rating (out of 5) in the App Store and 4.7 stars (out of 5) in the Google Play Store.
Early Direct Deposit
Chime has a feature called Get Paid Early, which allows your direct deposit to hit your account up to 2 days early. The timing depends largely on when the funds are submitted to Chime from your employer.
You can enroll in direct deposit from the app, and Chime sends you the required form to give to your employer.
Cash Advance
When you set up direct deposit with Chime, you’re automatically enrolled into a program called MyPay® which activates typically within 1-2 direct deposits. Limits start around $50 – $100 and can increase up to $500 over time.
MyPay is an optional service that acts like a cash advance. There are no fees for scheduled services (within 24 hours); however, if you need the money instantly you’ll be charged $2 – $5 per advance.
Savings Automation
Chime’s goal is to help its customers to hit their financial goals. With this in mind, Chime offers some solid options for automating your savings.
For example, the Roundup feature can automatically round up every purchase made with your Chime Visa Debit Card to the nearest dollar, dropping the remainder into your savings.
The service works similarly to the financial app Acorns; however, you can access funds in your Checking and Savings accounts instantly through Chime.
Chime also makes it easier to build good savings habits through its ‘Save When I Get Paid’ feature, which makes automatic savings deposits. Using this tool, you can automatically send a certain percentage of your paycheck directly into your savings account.
Mobile Payments
Chime has a mobile feature called Pay Anyone, an easy, fee-free option for sending money to other Chime users. The app works similarly to Venmo, Zelle, or Cash App, making it easy to split the check or pay someone back instantly.
Deposit Cash
With most online banks, depositing cash isn’t an option, and you’ll have to deposit into another account and transfer over. Fortunately, with Chime, you won’t have this problem.
Cash deposits are available at over 75,000 retail locations, such as Walmart or Walgreens. You can deposit cash up to three times daily and up to $10,000 per day/month. Some retailers may have lower limits.
This ability to deposit cash makes Chime stand out compared to most online-only banks.
Overdraft Protection
With Chime, you won’t pay a fee if you accidentally spend more than what’s in your account. Overdrafts can be stressful, and that stress can build upon itself with traditional overdraft fees.
Fortunately, Chime’s SpotMe feature is a form of overdraft protection that covers you for overdrafts of up to $200.
To qualify for SpotMe you must have at least $200 in monthly direct deposits. From there, it’s pretty simple.
Chime will cover your negative balance until your next deposit can make up the difference.
Once the negative balance is squared away, you can leave a tip and pay it forward. Tipping is completely optional, and whether or not you feel like leaving one has no impact on your standing with Chime.
Fees
Chime is all about affordable banking, so you won’t encounter any monthly maintenance fees, foreign transaction fees or minimum balance fees.
With that said, you will need to be mindful if you opt to use an out-of-network atm or make cash deposits.
Out of Network ATM Fees
If you have to use an ATM outside of Chime’s network, you could be hit with a fee from the ATM carrier plus $2.50 per transaction from Chime. Unfortunately, Chime doesn’t reimburse for these fees, so be sure to locate free options in your area.
Cash Deposit Fees
If you need to make cash deposits, it’s worth noting that you’ll incur a fee unless you use Walgreens or Duane Reade (8,000+ locations collectively). The fees typically range from $3-$5 and are set by the retailer, not Chime. Unfortunately, Chime doesn’t reimburse for these fees, so be sure to locate free options in your area.
Security
As an online-only fintech, information security is at the top of Chime’s priorities. Here are some of the security features that Chime offers:
Customer Service
Shifting to online-based customer service is typically the biggest transition for those used to traditional banks or credit unions.
Online banks, of course, don’t offer the in-person service of physical branches, but the good news is that you still can get help when needed.
For starters, Chime’s website has a ton of FAQs to help you help yourself. If you need to speak to someone, you can email or call the customer service phone number 24/7.
If you’re one that often requires an in-branch experience, Chime will not be for you!
Customer Reviews
Chime’s customers have mixed feelings about the customer support they’re receiving, as demonstrated by their 3.8-star rating (out of 5) on Trustpilot, though nearly 75% of the reviews are either 4 or 5-star ratings. By comparison, both Bank of America and U.S. Bank have 1.3-star TrustPilot ratings. Ouch!
Here’s what some of Chimes customers have to say.
5-star review:
Ive been using chime for a few years now and they definitely make banking easier.Patty McKenzie Trustpilot
4-star review:
I didn’t know of Chime until my grandson signed me on to it a little over two years ago. It’s the first time I am experiencing trouble-free banking without being nickle-and-dimed to death like my previous bank. And I get tickled pink when my direct deposit is available to me 2 days before the end of the month. Thank you Chime!Tobin P. Trustpilot
3-star review:
Sometimes I have trouble logging in other than that the chime account I have has been just fine.Carl Goldys Trustpilot
Pros and Cons
Chime reviews should cover the good and bad aspects of Chime’s accounts. Here’s a summary.
Pros:
Cons:
Alternatives to Chime
Chime’s main competition comes from other online-only banks, such as:
Many other online banks offer a similar low-fee structure and competitive interest rates. It’s all about finding the provider that serves your specific needs.
If the idea of an online-only banking platform sounds good, but you’re not quite ready to take the full leap, you might consider a hybrid bank like Capital One or a more traditional bank with a strong online presence like Chase.
Learn More:
Frequently Asked Questions
Here’s a look at the answers to some of the most common questions from those considering banking with Chime.
What is Chime?
Chime is an American-owned financial technology company and digital banking platform that partners with FDIC-insured banks to provide deposit-related services.
Is Chime a real bank?
This is a little tricky. Chime accounts are FDIC-insured through partner banks, so your money is just as secure as it would be with a traditional bank. On the other hand, Chime itself is not actually a bank. It’s a tech company that partners with The Bancorp Bank and Stride Bank to manage its deposit accounts and FDIC insurance policy.
Is Chime a good bank?
Chime itself is not actually a bank, it’s a financial tech company that partners with 2 banks to provide its banking services. Chime has a history of an unusual amount of CFPB complaints, including a recent enforcement action in 2024. However, over the last couple of years, Chime has tremendously improved the customer experience and beefed up its services.
Is Chime FDIC insured?
Yes, The Bancorp Bank and Stride Bank, which operate all of the bank accounts for Chime, are both insured by the FDIC for up to $250,000 per account per category.
Is Chime safe?
Yes, Chime is safe. Aside from FDIC insurance, Chime has security measures in place to make customers feel secure with online-only banking.
Is Chime Right For You?
On a scale of 1 to 10, how much do you hate banking fees?
The higher you rank on that scale, the more Chime makes sense for you. We aren’t talking low or rare fees here, but totally nonexistent ones.
Add that to outstanding mobile usability, a high-yield savings option, and customer service when you need it, and you’ve got a modern, online option that should serve your everyday banking needs well.
On the flip side, if you like having a local branch and a robust offering of account types and services, you might benefit from looking into a bigger, more traditional bank.
Overall, Chime is a solid option for anyone, but I would say that it especially stands out for young people, fee-haters, and people who want to avoid minimum balance requirements. It’s also a top choice for people whose credit scores could be higher.
Now that you know what Chime offers, the next step is signing up for an account if their services make sense.
Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A., Inc and may be used everywhere Visa debit cards are accepted.
Comments are closed.
Comments are closed here.